The new space race
By Fernanda Barbosa
Neil Armstrong’s historic phrase, «That’s one small step for man, one giant leap for mankind,» uttered on July 20, 1969, upon stepping onto the Moon during the Apollo 11 mission, symbolized the pinnacle of the space race, a competition between the United States and the Soviet Union that spurred advancements in telecommunications, computing, and navigation systems, transforming society.
Nearly 60 years later, NASA has resumed lunar exploration with the Artemis program, though this time with far more ambitious goals. The aim now is to exploit and utilize lunar resources to establish a long-term human presence there. Simultaneously, the program seeks to test new technologies that will be useful for even more challenging future missions, such as those to Mars and other more distant destinations.
This new phase is characterized primarily by the growing prominence of the private sector and by rapid technological acceleration. Companies like SpaceX and Blue Origin are transforming the industry through reusable rockets, precision landings, and innovative materials. Thanks to this, costs have decreased and access to space is becoming increasingly common. As a result, opportunities have opened up for the creation of private space stations, space tourism, and more ambitious exploration missions. Furthermore, according to recent reports, SpaceX is considering a possible initial public offering (IPO) in 2026, which could further strengthen its leadership in the space economy.
Many of the technological advances we use today emerged or were refined thanks to the challenges of traveling and working beyond Earth. These include more efficient solar panels and safer, longer-lasting batteries. In the field of medicine, innovations such as 3D tissue printing and surgical robotics systems allow for the development of increasingly precise and personalized treatments. Satellites, on the other hand, monitor the weather and help anticipate meteorological phenomena, facilitating decision-making to protect populations from natural disasters. In addition, global connectivity allows remote communities to access the internet, study online, and receive remote medical care.
However, as exploration progresses, inevitable questions arise: who owns space and the resources it contains? The 1967 Outer Space Treaty establishes the basic rules to ensure that space is used for peaceful purposes, but it does not regulate the commercial exploitation of its resources. To fill this gap, the United States promoted the “Artemis Accords” in 2020, which allow the extraction and use of lunar resources without territorial appropriation, promoting transparency and scientific cooperation. Nevertheless, powers such as China and Russia do not participate in these accords and work together on the International Lunar Research Station (ILRS).
In this context, the coexistence of different regulatory frameworks and visions regarding the use of space could generate geopolitical tensions and divergent approaches to the management of lunar resources. Furthermore, differences in technological capabilities and financial resources among countries could leave many without access to the benefits of the space economy.
Despite these challenges, the space economy is projected to exceed one trillion dollars in the next decade. In short, this new era of exploration represents a tremendous opportunity for innovation and global growth. Its success will depend on a balance between technological advancement and international cooperation, ensuring that the benefits of space reach all of humanity.