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Future Data Storage Needs Increasing At A Rate Of Nearly 25X By The Year 2021

The Future of Data Storage Data is everywhere. In the security industry, there are close to 300 million surveillance cameras churning out billions of hours worth of video. In the smartphone world, 2.1 billion users are generating a constant stream of location data, photos, movies,
You Can Leverage Digital Disruption to be Better at Business Development

You Can Leverage Digital Disruption to be Better at Business Development

You have heard it before: you’ve got to become a trusted advisor to your prospects in order to be successful in today’s sales environment. Great, how do you get that deep understanding? Take advantage of the disruption in the consulting industry. Business development seems to

CONTRIBUTORS

Avoiding the IOT ‘Twister’ Business Strategy

Avoiding the IOT ‘Twister’ Business Strategy

IOT ‘Twister’ Most organizations’ ‪ IOT Strategy look like a game of ‪ ‘Twister’ with progress across important IOT capabilities such as architecture, technology, ...
Four Cloud Security Mega Trends

Four Cloud Security Mega Trends

Cloud Security Trends Last year was a big year for the cloud. Cloud adoption continued to grow at a rapid ...
The Connected Car: The Unknown Hero of Automotive Innovation

The Connected Car: The Unknown Hero of Automotive Innovation

Connected Car Innovation Spanning the last decade, the automotive industry has seen an explosion of technological innovation which has, and ...

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12 WordPress Managed Hosting Services

12 WordPress Managed Hosting Services

WordPress Hosting Services WordPress hosting services has exploded in popularity as a blogging tool and content management system in recent years, and is now used by more than 23.3 percent (2018 Edit: 53%) of the top 10 million websites worldwide. Due ...
HTML5 Speed Test

HTML5 Speed Test

HTML5 SPEED TEST SERVICES There is no made-for-all solution when it comes to optimizing a website for speed, and while putting a cloud platform in place is a good start, every cloud startup should ensure that they have an optimization ...
15 Promising Cloud-Based Video Conferencing Services

15 Promising Cloud-Based Video Conferencing Services

Cloud Video Conferencing Services We have put together a compilation of some of the best cloud based conferencing services for businesses. The cloud video conferencing services market is expected to reach US$ 6.40 Billion by 2020 from the current $3.31 ...
Space Tourism

How Close Are We To Space Tourism?

Space Tourism

Space tourism has been just over the horizon for the best part of 50 years. From the moment man set foot on the moon there has been businessmen who believed that commercial space flight would eventually become a reality, although admittedly for the incredibly wealthy. But recently there has been a great deal of investment and interest in private space firms because of the advancements that have been made in technology. So it is possible that commercial spaceflight could genuinely be a reality in the near future?

In the past few years, there has been a significant uptick in VC (Venture Capital) investment in what has been dubbed the “Space Race 2.0”. For example, Matt Keezer, CEO of VC firm Momentum Ventures, pushed for investment into both Boom Supersonic (a company building a supersonic jet) and Vector Space Systems (who connect start-ups with rockets to put satellite into space) to help himself, and Momentum Ventures as whole, to get an understanding of the future of travel inside and outside the atmosphere.

The investment comes not just for ferrying passengers, but goods and satellites as well, so the opportunity for expansion and growth is there as the demand for satellites and space exploration increases year on year.

The potential to sell sponsorships makes it much easier for private firms to recoup some of the huge costs associated with spaceflight and research. Brands like Heineken and Red Bull have led the field so far in terms of sponsorships (Red Bull sponsored Felix Baumgartner’s jump from 128,000 feet), but as the market expands and space travel becomes more routine, more and more sponsors are likely to get on board and pump money into commercial space flight.

Whilst this sort of sponsorship can help to drive down costs, there are still huge financial barriers to be overcome before commercial space flight will become a viable and profitable industry.

SpaceX’s Falcon 9 rocket currently costs about $54 million for it’s use. However, the cost of fuel for each flight is roughly $200,000—0.4% of the total. The vast majority of the cost comes from building the rocket which can only make one flight. It costs around the same price to manufacture as a commercial airliner, but it can make thousands of flights. Hence, the key to overcoming those cost barriers is reusability.

SpaceX have long foreseen this problem, and are starting to make major progress on reusable rockets, and recently managed to launch a payload into orbit and land the rocket with only some damage to the emergency crush core. However, there is still a long way to go before reusable rockets can make the same number of flights as a commercial jet, or anywhere near the payload cost. There is still a way to go before commercial space flight becomes truly financially viable, but we are starting to make great strides in the right direction.

By Josh Hamilton

Josh Hamilton

​Josh Hamilton ​is an aspiring journalist and writer who has written for a number of publications​ involving Cloud computing, Fintech and Legaltech​. ​Josh has a Bachelor’s Degree in Political Law​ from ​Queen's University in Belfast​​.
Studies included, Politics of Sustainable Development, European Law, Modern Political Theory and Law of Ethics​.

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