To infinity and beyond: the new space age

Space science has taken a giant leap in the past year. Virgin Galactic, Blue Origin and SpaceX all flew their first tourist-focused missions. Meanwhile, NASA successfully landed its rover on Mars, and the James Webb Space Telescope - the world’s most powerful of its kind - blasted off into orbit days shy of the new year. More money than ever is being pumped into space technology, with Morgan Stanley forecasting the industry to top one trillion dollars by 2030.

Private investments in space companies topped $10 billion last year - the highest it’s ever been. 2021 also saw a record 132 successful orbital launches, with China and Elon Musk’s SpaceX landing a mix of private and government funded missions. There will also be renewed efforts to return to the Moon and more missions to the Red planet.

One company that’s been at the forefront of space exploration is Virgin Group. Its subsidiary Virgin Orbit was founded in 2017, but it’s been part of a space programme that began in the mid-1990s.

The race for space is fierce, but President and CEO Dan Hart told The Exchange Virgin Orbit was doing a number of things to stay ahead of the competition.

"We brought new technology. Last year was the first time a liquid rocket ever left an airplane and ended up putting satellites into orbit for the first time in history. It's been talked about for decades and tried a few times. Our rocket, for instance, has two engines on it, one for each rocket stage. Our competitors have five engines, 11 engines. That translates into enduring disadvantages in cost and reliability. And then there's the flexibility aspect that gives us reach into markets that others can't. I mean, we can take an airport anywhere in the world and within a few weeks, turn it