Citi has released a new Global Perspectives & Solutions, Citi GPS, report titled Space: The Dawn of a New Age. The report focuses on the commercial space market, which has the greatest potential advances over the next few decades. Today's launch costs of USD 1,500 per kilogram are about 30x less than the launch cost of NASA's Space Shuttle in 1981. Reusable rockets and launch vehicles, new materials and fuels, more cost-efficient production methods, and advancements in robotics and electronics systems are combining to drive these costs even lower. Launch costs could fall to USD 100 per by 2040 and in a bullish scenario, to as low as USD 33 per kg. With lower costs, mining on the moon or on an asteroid could become realityLooking at the resources in space, the report said that NASA has estimated that the asteroid belt contains minerals worth more an USD 100 billion for each of the six billion people on Earth. Last year an asteroid called 16 Psyche captured worldwide attention as NASA highlighted its mineral wealth. This August, the space agency will launch a mission using a SpaceX Falcon Heavy rocket. NASA estimates in theory 16 Psyche is worth USD 10,000 quadrillion. The asteroid contains enough iron and nickel to cover the world's needs for millions of years.However, the idea of astronauts bringing down gold, silver, iron and other metals from space could be a little ways off. Citigroup said it is more feasible to start mining on the moon, with water being the first extracted resource
Citi has released a new Global Perspectives & Solutions, Citi GPS, report titled Space: The Dawn of a New Age. The report focuses on the commercial space market, which has the greatest potential advances over the next few decades. Today's launch costs of USD 1,500 per kilogram are about 30x less than the launch cost of NASA's Space Shuttle in 1981. Reusable rockets and launch vehicles, new materials and fuels, more cost-efficient production methods, and advancements in robotics and electronics systems are combining to drive these costs even lower. Launch costs could fall to USD 100 per by 2040 and in a bullish scenario, to as low as USD 33 per kg. With lower costs, mining on the moon or on an asteroid could become realityLooking at the resources in space, the report said that NASA has estimated that the asteroid belt contains minerals worth more an USD 100 billion for each of the six billion people on Earth. Last year an asteroid called 16 Psyche captured worldwide attention as NASA highlighted its mineral wealth. This August, the space agency will launch a mission using a SpaceX Falcon Heavy rocket. NASA estimates in theory 16 Psyche is worth USD 10,000 quadrillion. The asteroid contains enough iron and nickel to cover the world's needs for millions of years.However, the idea of astronauts bringing down gold, silver, iron and other metals from space could be a little ways off. Citigroup said it is more feasible to start mining on the moon, with water being the first extracted resource
