The next gold rush is above us, not below us

The United States stands at a critical crossroads in space policy. While our space activities already generate over $380 billion annually and support 100,000 American jobs, we risk falling behind international competitors in the next great economic frontier. It's time to fundamentally reimagine our approach to space — not as a “government-led program,” but as America's next realm for economic expansion and industrial development.

The current NASA-centered approach, exemplified by the Artemis program, is both unsustainable and insufficient for maintaining American leadership in space. Already $100 billion over budget and years behind schedule, Artemis represents an outdated model of government-led space exploration that cannot compete with nimbler commercial alternatives or match the pace of international rivals like China.

Instead, our nation needs a bold new vision centered on enabling private enterprise to develop the economic potential of the Earth-Moon system. This means transitioning away from costly government systems, like the Space Launch System, in favor of partnerships with America's innovative new commercial space sector. By leveraging private industry's entrepreneurial drive and cost-effectiveness, we can dramatically accelerate progress while creating thousands of new jobs.

A key priority should be establishing a permanent human presence in low Earth orbit through commercial space stations. By tripling funding for NASA's Commercial LEO Destinations program and targeting two operational commercial stations by 2028, we can create new opportunities for in-space manufacturing, research and development. These orbital platforms will enable the production of novel pharmaceuticals, advanced materials and other high-value products that can only be made in microgravity.

Another priority should be space-based solar power demonstrations. Space-based solar power represents a transformative opportunity to achieve both energy independence and global energy leadership. By investing in multiple technology demonstrations by 2028 and developing a comprehensive strategy for industrial-scale power generation by 2035, America can pioneer an entirely new — and renewable — clean energy industry. This would not only enhance our national security but also position the U.S. to export reliable and continuous power to our allies around the world.

Achieving these ambitious goals requires modernizing our regulatory framework. The current system, designed for an earlier era of limited commercial space activity, has become a bottleneck for innovation. We must streamline licensing processes while maintaining public safety, starting with passing the Commercial Space Act of 2023. Additionally, elevating the Office of Space Commerce and reforming the Federal Aviation Administration's approach to commercial spaceflight regulation will help unlock private-sector investment and innovation.

Critics may argue that this vision privileges commercial interests over scientific exploration. The opposite is true. By reducing launch costs and expanding space infrastructure through market forces, we'll actually enable more scientific discovery than the traditional government-centric approach. Just as the transcontinental railroad enabled western exploration while driving economic growth, commercial space development will create new opportunities for scientific research while generating prosperity.

The geopolitical stakes could not be higher. China has made clear its ambition to control cislunar space and its vast resources. If America doesn't move quickly to establish a robust commercial presence beyond Earth, we risk ceding leadership in space to strategic competitors. This would have profound implications, not just for our economy and national security but for the future of human civilization in space.

History shows that technological and economic advancement in space drives innovation and creates solutions to terrestrial challenges, here on Earth, right now. NASA “spinoffs,” from communications satellites to GPS to weather forecasting technologies, have become fundamental to modern life. The next wave of space industrialization promises similar revolutionary benefits.

The choice before us is clear: we can continue with business as usual and watch other nations take the lead in space, or we can unleash American enterprise to drive the next great economic expansion.

By shifting from a government-centered to a market-oriented approach, streamlining regulations and making strategic investments in key capabilities like commercial space stations and space-based solar power, we can ensure American leadership in the high frontier.

The economic potential is vast, the technology is ready and our commercial space sector leads the world in innovation. All that's needed now is the political will to embrace a bold new vision of space as a realm for economic development and industrial growth. The nation that gains a first-mover advantage in developing space resources will shape the future of humanity. The United States must be that nation.

David Steitz served as NASA’s deputy associate administrator for Technology, Policy and Strategy and as the agency’s deputy chief technologist, retiring in 2022. Steitz now works as a technology policy and strategic communications consultant in Washington.

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