COVER STORY
NEW SPACE NEW BUSINESS MODELS Improvements in launch systems and innovations such as the use of commercial-off-the-shelf technology for space applications are driving down costs, while a diverse range of sensors are bringing in greater spatial resolution, higher temporal cadence and richer spectral coverage. This combination of decreased cost and increased capabilities is unleashing a plethora of opportunities for the earth observation industry, opening the doors for new-age startups and innovations. By Anusuya Datta January 1999: Two professors from California Polytechnic State University and Stanford University developed the concept of a very small spacecraft to enable students and researchers worldwide perform space exploration. June 2003: World’s first six cubesats were placed in orbit by Germany’s Eurockot vehicle from Russia’s Plesetsk launch site. January 2014: Planet Labs, a California-based company founded by three former NASA engineers, launched 33 cubesats in orbit from the International Space Station. February 2017: The Indian Space Research Organisation launched a record 104 satellites on a single rocket. The combined payload of about 1,380 kg consisted of 101 nanosatellites from five different countries, including 88 from US-based Planet.
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he Planet satellites, each weighing as much as a bread loaf — as against the traditional school bus-sized satellites that took years to build and millions of dollars of investment — opened up a new era in earth observation. Since 2014, hundreds of small satellites have been launched. What was once niche has today become a booming business, with estimates putting the number of small satellites to be launched between 2018 and 2027 in the range of 6,500-7,000. Such advancements not only promote innovation and democratize access to space, but also mean easy availability of a lot of data. At the same time, improvements in launch systems and innovations such as the use of commercial-off-the-shelf technology for space applications are driving down costs, while a diverse range of sensors are bringing in greater spatial resolution, higher temporal cadence and richer spectral coverage. This combination of decreased cost and increased capabilities is unleashing a plethora of opportunities in earth observation — from monitoring pollution and agriculture to tracking commercial shipping and pre-empting/managing disasters. In addition to heavy government push, the surge in investments 12
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by billionaires such as Elon Musk, Jeff Bezos and Richard Branson, and more recently venture capitalists, has provided the muchneeded fillip to the industry. Nearly $3 billion in equity capital was invested in space companies globally in the first two quarters of 2019, according to a report by Space Angels, a leading source of capital for early-stage space ventures. This brings the cumulative total invested in 476 space companies since 2009 to $22.3 billion. With 200+ satellites in orbit and the ability to monitor all of Earth once a day, Planet is a veteran of the game, a game that compelled industry heavyweight Maxar (formerly DigitalGlobe) to get into the small satellite business. Maxar is currently
building WorldView Legion, a constellation of numerous small satellites that will replace its three oldest satellites (WorldView-1 and 2 and GeoEye-1). While the exact number of satellites that will make Legion is not known, the first launch is scheduled in
