A new space race looms on the horizon.
The goal: Putting men on the moon again (and maybe women this time, too), echoing the expensive and exhilarating missions that led to Neil Armstrong’s historic step onto the lunar surface in 1969.
A return to the moon seems likely sometime late in the 2020s – more than 50 years after the first trip there. It would be followed, sometime in the 2030s, by a manned flight to Mars, using a lunar base as a departure point.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
A U.S.-led team will reach the moon first, just as Americans outpaced the Soviets last time. But China will be nipping at NASA’s heels, poised to win the new race if budget cuts or problems – either political or scientific – disrupt America’s timetable.
So why is a costly return to space under consideration even as many members of Congress are looking to cut federal spending and trim the budget deficit? One factor to weigh is that NASA’s budget won’t be much different than it is now, about $18 billion a year. Private companies will kick in billions more, as will countries eager to partner with the U.S.
Another consideration: There is vast potential for scientific gains in health care, technology and telecommunications. Medical experiments, a boon for universities and private companies that partner with NASA, will help astronauts deal with the effects of prolonged weightlessness. Here on Earth, those studies may lead to advances in treating bone and muscle problems in older people.
And there’s a good chance that space missions will lead to the creation of new products that will find uses in daily life. The first era of space exploration brought a number of advances that are now taken for granted: Memory foam for mattresses and pillows. Cordless power tools. Scratch-resistant eyeglass lenses. Even freeze-dried food.
The renewed interest in space travel will also create a string of business opportunities for companies of all sizes. At one end of the scale, SpaceX is getting $1.6 billion to develop and fly rockets. The company, just one of the joint ventures pushed by NASA’s brass, has had a mixed track record so far.
Boeing, Lockheed Martin, Orbital ATK and others will work on lucrative contracts for space vehicles to carry humans and cargo, and will provide other major components and gear. While those giant firms will land much of the space program’s main work, the contracts will require countless subcontractors to provide parts and perform some tasks.
Nearly every state will benefit to a degree, though the bulk of the work will be in states with existing space industry ties: Florida and Texas, of course, but also Alabama, California, Maryland and Virginia.
-
Planning a Major Home Renovation? 3 Smart Ways to Finance ItFrom HELOCs to personal loans, here’s how to pay for a major home renovation without draining your savings.
-
Six Warren Buffett Quotes Every Retiree Should Live ByThe 'Oracle of Omaha' knows a thing or two about life, investing and retirement.
-
The Economy on a Knife's EdgeThe Letter GDP is growing, but employers have all but stopped hiring as they watch how the trade war plays out.
-
Banks Are Sounding the Alarm About StablecoinsThe Kiplinger Letter The banking industry says stablecoins could have a negative impact on lending.
-
Apple Readies for AI Upgrade with New iPhonesThe Kiplinger Letter The tech giant has stumbled when it comes to artificial intelligence, but a new batch of iPhones will help it make headway.
-
Japan Enters a New Era of Risk and ReformThe Kiplinger Letter Japan has entered a pivotal moment in its economic history, undertaking ambitious policy and structural reforms to escape from decades of stagnation.
-
How Consumers Are Tinkering with Cutting-Edge AIThe Kiplinger Letter Companies launching artificial intelligence tools are jostling for consumer attention. Some products are already building a deep connection with users.
-
After Years of Stagnant Growth, Hope Emerges for EU EconomyThe Kiplinger Letter Can a German fiscal push outweigh French political peril?
-
Small Businesses Are Racing to Use AIThe Kiplinger Letter Spurred on by competitive pressures, small businesses are racing to adopt AI. A recent snapshot shows the technology’s day-to-day uses.
-
How AI Puts Company Data at RiskThe Kiplinger Letter Cybersecurity professionals are racing to ward off AI threats while also using AI tools to shore up defenses.
