Title: Space: The Next Business Frontier
Author: Lou Dobbs with H.P. Newquist
Publisher: iBooks, Inc Copyright 2001 279 pages,
Hardcover, ISBN
0-7434-2389-5
Price: US$24.95

"397 different people, representing 29 different nations have flown in space at the beginning of 2001"

"If asked to define the hottest technology on the planet, any man-on-the-street would undoubtedly say "the internet." Of course, the odds are high that the same man on the street had no idea that the Internet even existed just five years ago."

Why talk about space? Why talk about space and the next business frontier? The above introduction from the first chapter answers these questions, (keep in mind that the text was published in 2001). The private sector is investing large sums of money in space and related technologies. Dobbs examines

·
which new technologies have the edge;
·
which corporations are players in the space game and which are destined to be;
·
what start-up companies have to do to become players; and
·
how to judge for yourself which ones will have the best chances for success.

This last aspect is facilitated in Chapter 8, which profiles 100 of the top players in the space business. There are some incredibly interesting technologies being developed by some exceptionally innovative companies. Readers generally interested in adapting technology to improve standards of living and the progression of the human race would be more than satisfied with the information communicated in the book.

Quite commonly book reviews concentrate on the content and purpose of the material presented. The background experience of the author in the subject matter has a strong influence on the credibility and content of the work. Lou Dobbs writes with a free flowing hand, and his knowledge and experience in the subject matter are relayed to the reader by the manner in which he delivers his points of view. The jacket of the book describes him as a founding member of CNN's financial news division, back in 1980. After 19 years at CNN he left to launch SPACE.com. He oversaw the launch of CNNfn and CNNfn.com and managed the network as the president of CNNfn and executive vice president of CNN.

From a personal standpoint, I found the many facts about space most interesting. Obviously, I had learned many of these details during my undergraduate years, but had promptly 'archived' them in some back corner of my mind. For instance, there are currently more than 5000 satellites orbiting the planet. Also, placing objects in space is considered proven technology, but where is space and how do we get there economically? Basically, the point at which aerodynamic principles cease to apply begins at 62 miles (approx 100 km) above the earth's surface and extends all the way to the end of the exosphere at 240 miles (approx 386 km), which is the scientifically defined starting point of space. From an operational standpoint, the minimum altitude at which a satellite can be kept in orbit is at 103 miles (approx 166 km). Objects orbiting at this height, (including satellites and the space shuttle) - known as low-earth orbit - have to be travelling at 17,500 miles per hour (approx 28,163 km/h). The Russian space station Mir orbits at 235 miles (approx 378 km) above the earth. The majority of satellites are placed in geo-stationary orbit which is possible because the satellite is travelling at the same speed at which the earth rotates. From there, usually at a point along the equator, and at an altitude 22,300 miles (approx 35,888 km) above the earth, a line of sight for transmission is possible to most latitudes, except those near the poles.

Chapter 7 gives an excellent description of the investment possibilities when space commercialisation becomes a possibility. This assumes easy access to space will soon become a reality. Dobbs describes space as a US$100 billion dollar worldwide industry. Most people think that this industry is dominated by NASA space shuttles but private sector revenues now surpass those of government. Dobbs describes this as a phenomenal size for an industry that as yet doesn't sell directly to the retail consumer. Much of the discussion in the book is related to industries whose markets will be opening up directly to consumers - ensuring that the space industry is all but primed to 'take-off'. We are poised at the beginning of the next generation of space projects: Commercial ventures encompassing tourism, micro-gravity research and manufacturing, proteins and pharmaceuticals, fluid dynamics, satellite repair, materials processing, medicine, combustion, space based solar power, mining, technology applications (Micro Electrical Mechanical Systems - MEMS), nano-technology, propulsion and colonisation are but some of the new industries that should see an increase in investment over the coming years. Exploration, communication and military projects define our limited historical relationship with space. Dobbs describes how informed individuals and companies stand to benefit immensely from an appreciation and understanding of the different way in which s-commerce will affect life on earth.

Improvements in material processing are definitely an area of interest for the computing industry. Earth bound manufacturing is subject to two naturally occurring constraints on material processing: convection and sedimentation. Micro-gravity will eliminate these two effects making it possible to develop smaller processors, stronger more lightweight steels, and stronger plastics. Fluid dynamics (like mixing, separation, handling and movement) would also benefit from micro-gravity. This has enormous potential for the pharmaceutical industry in the development of medicines for the treatment of disease. However, fluid dynamics also has bearing on the way in which the human body absorbs and processes medicines. The diagnosis and treatment of cancers will most definitely benefit from micro-gravity.

Energy consumption, as opposed to energy conservation, is a topic of great importance today,. From my own experiences after four years in the USA, the latter seemed to be non-existent. The strongest economy on earth believes it has access to an unlimited supply of energy - anytime it needs it. Not so for the last few summers, where rolling blackouts in California disrupted nearly every aspect of daily life. When there is 'enough energy to go around, it doesn't really matter that it becomes more expensive. At least it's there'. Now, people in developed modern economies like the US are described as being scared, because the energy (fuel) isn't always there, regardless of the price. No amount of money is going to get the power turned back on when the energy grid in your area is down. Companies investing in space based solar power are well positioned for the future. Research into energy transmission back to earth via microwaves is also discussed in the book. Once these technologies are developed and begin to take market share, what of the oil and gas industry? How long before this happens? Are we adaptable enough to apply our expertise to other industries? We should not be dismissing these signs, but taking note of them. We can see the dramatic changes our industry has undergone in the last 100 years as new methods of exploration, distribution and transportation were introduced, methods that many chose to ignore until it was too late.

But how will these benefits be realised? We still need to get-to-space, and the economic cost of breaking free from the earth's gravitational field has always been the most limiting factor. Dobbs gives a thorough review of the current economic policies of government space agencies and the exorbitant costs of getting payloads into orbit. This discussion highlights areas of research, currently underway, which utilise new propulsion technologies that should see a dramatic reduction in the unit cost of launching into space.

I hope by this point you are excited about space and its future role in our society. Incredible Adventures (incredible-adventures.com) based in Sarasota, Florida is a privately held company that is currently pre-booking flights aboard sub-orbital vehicles. Until the technology becomes commercially available, current offerings for eager travellers include a flight in a Russian MIG-25 fighter jet and a near-weightless flight aboard a specially equipped plane flying in parabolic arcs.

Space Adventures (spaceadventures.com) in Arlington, Virginia, a joint venture between several travel organisations, offers to fly people into space as soon as the first flight is available, which it predicts to occur before the end of 2005. This will set you back a mere USD$98,000. The company helped Dennis Tito get aboard the ISS. Trips on Russian MIG-25s, and near-weightless parabolic flights have been offered for several years by Space Adventures. Several astronauts, including Buzz Aldrin, sit on its board of directors.

Still skeptical about the space industry? Check out Sirius Satellite Radio (siriusradio.com) in New York, New York. This company is targeting the automotive industry by offering 100 uninterrupted channels of digital radio across the USA, for about USD$10 a month in subscription fees. This will require dedicated radio hardware, however, this is not a stumbling block. The company has formed partnerships with Ford, DaimlerChrysler, BMW, Mercedes, Mazda, Jaguar and Volvo. C-Span, Fox News Network, Bloomberg, CNBC and national public radio will provide radio content. Its major competitor is XM Satellite Radio (xmradio.com) based in Washington, D.C. XM has two dedicated satellites (named 'Rock' and 'Roll') which will supply CD-quality radio across North America. General Motors, which holds 22% of the company, intends to install the requisite receivers in its cars. BBC, USA Today, CNN, C-Span, The Weather Channel, BET and NASCAR are lined up to provide the planned 100 channels of content. XM has agreements with Alpine, Pioneer, Clarion, Blaupunkt, Delphi-Delco, Visteon, Panasonic and Sanyo to build radio receivers. These are some of the largest automotive, audio and broadcast companies in the world - and they are investing in space technologies today. More to the point, they have been investing in space technologies for the past few years. This market is here and there are some big rewards to be had.

As examples, Analytical Graphics Inc, with 150 employees, generates USD$18.5 million in revenues. Arianspace, with 350 employees, generates USD$774 million in revenues. Intelsat Ltd, with 900 employees, generates USD$1.1 billion in revenues. New Skies Satellites NV, with 103 employees, generates USD$198 million in revenues. PanAmSat Corp, with 800 employees, generates USD$1 billion in revenues. SpaceDev, with 25 employees, generates USD$3.9 million in revenues.

I was astounded at some of those figures, and these companies provide services from TV broadcasting, software, launch facilities, communications, internet access, data and voice transmission, entertainment content providers, micro-launch vehicles, hybrid rocket propulsion systems and small manoeuvrable craft for satellite inspection and repair. None of these companies are government controlled. They are all publicly listed and currently doing business to serve the next investment frontier.

Quite a thought provoking, chilling and, at times, intimidating, yet fascinating read.