Visualized: The Race to Invest in the Space Economy
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Visualized: The Race to Invest in the Space Economy

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The Race to Invest in the Space Economy

Visualized: The Race to Invest in the Space Economy

Humans have long viewed outer space as the final frontier.

Our thirst for exploration has brought whole nations together to create more advanced technologies─all in the pursuit of discovering the outer reaches of the universe.

Today’s infographic from ProcureAM highlights the exciting journey humans have taken into outer space, and the economic boom across industries as a result of this quest for discovery.

With an ever-expanding universe, how far have we gone?

Our Connection with Outer Space

Humans have been fascinated with space for millennia, using the planets and stars to navigate, keep time, and discover scientific facts about the universe.

Since the 1960s, humans have also been traveling into space and pushing the limits of our technological and physical boundaries with each excursion.

A Brief History: Humans in Space

  • 1957 ─ First satellite launched: Sputnik1
  • 1961 ─ First human in space: Yuri Gagarin
  • 1965 ─ First human spacewalk: Aleksei Leonov
  • 1969 ─ First human on the Moon: Neil Armstrong
  • 1984 ─ First untethered spacewalk: Bruce McCandless
  • 1998 ─ First modules launch to begin construction of the International Space Station

Nations around the world have used these trips and technological milestones to drastically improve life.

Reusable rockets and advanced satellite technology enable greater innovation on Earth through higher-quality broadband internet, 5G cellular networks, and the Internet of Things (IoT) connected devices.

The Space Economy is Ready for Lift-off

Three major sectors are dominating the global space economy today:

  • Products and Services
    This sector drives the majority of commercial activity in the space industry. These products and services meet specific needs in telecommunications, location-based services, and monitoring and observation.
  • Infrastructure
    Production of space vehicles such as rockets and rovers, ground and space stations, and receivers such as satellites, receivers, and terminals for internet and TV are also booming. As the global population grows, our need to stay connected to each other evolves.
  • Government
    Most modern government space agencies are actively monitoring and tracking space to offer better resources and services for their citizens, including geopolitical monitoring and missile tracking.

Can lower costs, new technology, and increased commercial activity make space the next trillion-dollar industry?

The Next Frontier: Investing in Space

Investments in space-related industries have shot up in recent years, rising from US$1.1 billion in 2000-2005 up to $10.2 billion between 2012-2018.

This meteoric growth is due to fewer barriers in the space industry, which was previously restricted to governments or the ultra-wealthy. Private sector companies are responsible for much of the growth. Since 2000, Goldman Sachs estimates that $13.3 billion has been invested into newly launched space startups.

These companies, backed by titans such as Jeff Bezos and Elon Musk, are pledging to support innovations from the practical to the fantastical, to boldly go where none have gone before:

  • SpaceX ─ powerful satellite Internet service
  • Deep Space Industries and Planetary Resources ─ first commercial mines in space
  • DoubleTree Hilton ─ first company to bake cookies in space
  • Blue Origin ─ deep-space exploration

And with recent technological advancements, these goals are edging closer to reality.

For example, take space tourism. While costs are still astronomical, Blue Origin and Virgin Atlantic are banking on the idea of the first space vacations taking place as early as 2020─and growing in popularity from there.

  • Dennis Tito paid $20 million to become the first space tourist in 2001
  • Prepaid tickets for 90-min suborbital flights in 2020 with Virgin Galactic are going for $250,000

The Future of the Space Economy

Advances in satellite and rocket technology mean that costs are declining across the entire commercial space economy.

Because of this, the global space industry may jump light years ahead in the next few decades.

For the first time since our journey to the stars began, the final frontier is well within our grasp.

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Science

Nature Timespiral: The Evolution of Earth from the Big Bang

This spiral timeline shows the events that led us to our modern world, from the Big Bang to the present.

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Nature Timespiral: The Evolution of Earth from the Big Bang

Since the dawn of humanity, we have looked questioningly to the heavens with great interest and awe. We’ve called on the stars to guide us, and have made some of humanity’s most interesting discoveries based on those observations. This also led us to question our existence and how we came to be in this moment in time.

That journey began some 14 billion years ago, when the Big Bang led to the universe emerging from a hot, dense sea of matter and energy. As the cosmos expanded and cooled, they spawned galaxies, stars, planets, and eventually, life.

In the above visualization, Pablo Carlos Buddassi illustrates this journey of epic proportions in the intricately designed Nature Timespiral, depicting the various eras that the Earth has gone through since the inception of the universe itself.

Evolutionary Timeline of the World

Not much is known about what came before the Big Bang, but we do know that it launched a sequence of events that gave rise to the universal laws of physics and the chemical elements that make up matter. How the Earth came about, and life subsequently followed, is a wondrous story of time and change.

Let’s look at what transpired after the Big Bang to trace our journey through the cosmos.

The Big Bang and Hadean Eon

The Big Bang formed the entire universe that we know, including the elements, forces, stars, and planets. Hydrogen and massive dissipation of heat dominated the initial stages of the universe.

During a time span known as the Hadean eon, our Solar System formed within a large cloud of gas and dust. The Sun’s gravitational pull brought together spatial particles to create the Earth and other planets, but they would take a long time to reach their modern forms.

Archean Eon (4 – 2.5 billion years ago)

After its initial formation, the surface of the Earth was extremely hot and entirely liquid. This subsequent eon saw the planet cool down massively, solidifying some of the liquid surface and giving rise to oceans and continents, as well as the first recorded history of rocks.

Early in this time frame, known as the Archean eon, life appeared on Earth. The oldest discovered fossils, consisting of tiny, preserved microorganisms, date to this eon roughly 3.5 billion years ago.

Paleoproterozoic Era (2.5 – 1.6 billion years ago)

The first era of the Proterozoic Eon, the Paleoproterozoic, was the longest in Earth’s geological history. Tectonic plates arose and landmasses shifted across the globe—it was the beginning of the formation of the Earth we know today.

Cyanobacteria, the first organisms using photosynthesis, also appeared during this period. Their photosynthetic activity brought about a rapid upsurge in atmospheric oxygen, resulting in the Great Oxidation Event. This killed off many primordial anaerobic bacterial groups but paved the way for multicellular life to grow and flourish.

Mesoproterozoic Era (1.6 – 1 billion years ago)

The Mesoproterozoic occurred during what is known as the “boring billion” stage of Earth’s history. That is due to a lack of widespread geochemical activity and the relative stability of the ocean carbon reservoirs.

But this era did see the break-up of the supercontinents and the formation of new continents. This period also saw the first noted case of sexual reproduction among organisms and the probable appearance of multicellular organisms and green plants.

Neoproterozoic Era (1 billion – 542.0 million years ago)

In some respects, the Neoproterozoic era is one of the most profound time periods in Earth’s history. It bookends two major moments in the planet’s evolutionary timeline, with predominantly microbial life on one side, and the introduction of diverse, multicellular organisms on the other.

At the same time, Earth also experienced severe glaciations known as the Cryogenian Period and its first ice age, also known as Snowball Earth.

The era saw the formation of the ozone layer and the earliest evidence of multicellular life, including the emergence of the first hard-shelled animals, such as trilobites and archaeocyathids.

Paleozoic Era (541 million – 252 million years ago)

The Paleozoic is best known for ushering in an explosion of life on Earth, with two of the most critical events in the history of animal life. At its beginning, multicellular animals underwent a dramatic Cambrian explosion in aquatic diversity, and almost all living animals appeared within a few millions of years.

At the other end of the Paleozoic, the largest mass extinction in history resulted in 96% of marine life and 70% of terrestrial life dying out. Halfway between these events, animals, fungi, and plants colonized the land, and the insects took to the air.

Mesozoic Era (252 million – 66 million years ago)

The Mesozoic was the Age of Reptiles. Dinosaurs, crocodiles, and pterosaurs ruled the land and air. This era can be subdivided into three periods of time:

  • Triassic (252 to 201.3 million years ago)
  • Jurassic (201.3 to 145 million years ago)
  • Cretaceous (145 to 66 million years ago)

The rise of the dinosaurs began at the end of the Triassic Period. A fossil of one of the earliest-known dinosaurs, a two-legged omnivore roughly three feet long-named Eoraptor, is dated all the way back to this time.

Scientists believe the Eoraptor (and a few other early dinosaurs still being discovered today) evolved into the many species of well-known dinosaurs that would dominate the planet during the Jurassic period. They would continue to flourish well into the Cretaceous period, when it is widely accepted that the Chicxulub impactor, the plummeting asteroid that crashed into Earth off the coast of Mexico, brought about the end of the Age of Reptiles.

Cenozoic Era (66 million – Present Day)

After the end of the Age of Dinosaurs, this era saw massive adaptations by natural flora and fauna to survive. The plants and animals that formed during this era look most like those on Earth today.

The earliest forms of modern mammals, amphibians, birds, and reptiles can be traced back to the Cenozoic. Human history is entirely contained within this period, as apes developed through evolutionary pressure and gave rise to the present-day human being or Homo sapiens.

Compared to the evolutionary timeline of the world, human history has risen quite rapidly and dramatically. Going from our first stone tools and the Age of the Kings to concrete jungles with modern technology may seem like a long journey, but compared to everything that came before it, is but a brief blink of an eye.

*Editor’s note: An earlier version of this article contained errors in the header graphic and an incorrect citation, and has since been updated.

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Space

Comparing Objects in Our Solar System by Rotation, Size, and More

This video offers a new perspective on objects in our solar system, comparing them by their size, rotational speed, and tilt.

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Comparison of Select Objects in our Solar System

Comparison of Selected Objects in our Solar System

Our solar system is home to various celestial objects, including planets, moons, asteroids, and even dwarf planets.

All of these objects differ in many ways, yet work in perfect unison. A comparative study of the various features of these celestial bodies gives us some fascinating results.

The above animation from planetary scientist Dr. James O’Donoghue helps put in perspective the different objects in the solar system in terms of size, rotational speed, and the axial tilt at which they rotate.

Selected Solar System Objects to Scale

With such a diverse solar system of planets and other celestial objects, there is no shortage of questions to think about. Like what is the exact diameter of Jupiter, or how fast does Pluto rotate?

To answer them, here is a comparison of some select celestial bodies in our solar system, going from the biggest to smallest objects:

Celestial BodyDiameter (km)Rotational Period (Hours)Axial Tilt
Sun1.4M6487.2°
Jupiter140,9829.93.1°
Saturn120,53610.726.7°
Uranus51,118-17.297.8°
Neptune49,52816.128.3°
Earth12,75623.923.5°
Venus12,104-5832177.4°
Mars6,79224.625.2°
Mercury4,8791407.60.03°
Moon3,475655.76.7°
Pluto2,376-153.3122.5°
Ceres9469

Planets like Venus or Pluto rotate in the opposite direction to Earth, or in retrograde, and thus are denoted with a negative symbol before their values.

Another interesting observation is that the Sun rotates on its axis only once in about 27 days and has an axial tilt of about 7.25 degrees from the axis of Earth’s orbit. Hence, we see more of the Sun’s north pole in September of each year and the south pole in March.

How do the Various Objects Compare Against Earth?

The Earth we live on is a unique planet within our solar system containing water and air, and is where living things thrive. But, aside from those surface level differences, is our home really different from other planets and celestial objects?

In the table below, we compare other nearby celestial bodies with Earth, using ratios—this time, from smallest to largest:

Celestial BodyDiameter (ratio to Earth)Rotational Period (ratio to Earth)
Ceres0.070.37
Pluto0.186.41
Moon0.2727.4
Mercury0.3858.8
Mars0.531.03
Venus0.94-244
Earth11
Neptune3.880.67
Uranus4.01-0.72
Saturn9.450.44
Jupiter11.310.41
Sun10927

Though Jupiter is around 11 times wider than Earth, its rotational period is only 0.4 times as long as our planet’s—meaning it rotates at a much faster speed.

On the other hand, Venus uses a slow and steady approach, taking 244 times longer to make one rotation (in comparison to background stars) when contrasted to Earth.

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