SpaceX has been credited for creating the way, but in the recent times, we have been able to witness a new group of space startups that are aiming in taking the space industry into higher heights. Elon Musk has a mission of being able to make people travel to the Mars. The cost of a ticket to travel to the Mars will cost $200,000 per ticket. Some new entrepreneurs want to make this cost much cheaper. Tim Ellis, who is the co-founder of Inc. 30 under 30 winner Relativity Space, did speak at the Wall Street Journal Future of Everything Festival that got to be held in New York. He spoke on Wednesday. The TransAstra creator Joel C. Sercel joined him. Relativity Space does build rockets in an inventive way. They utilize 3-D printing.
Ellis went on and said that the company has been able to build large parts that do comprise smaller components. Currently, it has been able to construct an engine that has three parts. This is in comparison to the 2,700 that are usually required. Most of the rockets have been known to take very many years to be able to build them. The company has an aim of being able to construct them in a record of sixty days. According to his theory, this is meant to lower the traveling cost to the moon. Ellis has gone on and said that labor does have 80-90% of the cost of rocket building.
SpaceX, which was established by Musk in the year 2002, has been one of the privately owned companies that are doing all it can in transforming the space business by using its reusable rockets. Musk has constantly held the conviction that innovation is the most proficient method for making it workable for more people to the movement to the Mars. Ellis and Musk together hold the same ambition. They hope that entrepreneurs will do so. The business, which has $45 million funding, has one goal of being able to become the first company to 3-D print a rocket on Mars. He believes that at some point the space industry will have grown. This is as a result of the decreased cost of constructing the rockets for getting there.
Sercel, which is mining asteroids to be used as a fuel, does believe that space industry is on the verge of achieving full growth. The industry is estimated to be worth over $330 billion. TransAstra is another company that is focusing on mining Asteroids which will serve as resources.