The name of the engineer, entrepreneur, inventor, and investor Elon Musk becomes more popular every year. His inventions not only surprise the world with their unpredictability and originality but also serve as an engine of progress in many sectors. SpaceX was founded in 2002 by Elon Musk, who had a goal to create a rocket to colonize Mars (Reddy, 2018). The inventor is convinced that humanity should learn to survive on other planets. Otherwise, society will disappear because of a global catastrophe or overpopulation. Therefore, it is appropriate to investigate the motives for developing the company and its perspectives for the future.
The Motivation for Creating the Company
Musk estimated that energy sources on planet Earth would not increase, and the population was growing, which is why he decided that humans should adapt to life on other planets. The basic idea behind the creation of SpaceX is to enable interplanetary travel. Another motive was to rid humankind of the ever-present threat of Earth’s collision with an asteroid. Musk was convinced that exploring other planets could save civilization from any global cataclysm. The inventor decided to initiate a company because aerospace manufacturers were making too expensive rockets, which prevented them from constant launches and stopped progress in interplanetary travel (Schilling, 2018).
The Strengths and Weaknesses
It seems to me that Elon Musk was highly enthusiastic about his idea because his passion made it possible to find a low-cost solution for producing rockets. However, the first launch attempts were unsuccessful, and Elon Musk had no resources of his own to finance the project, which is why his attempts were limited. At the same time, the team worked extra hours and felt a great responsibility for the next launch, which could have been the last. Although Musk was on the verge of bankruptcy, NASA appreciated his motivation and considerable success, providing him with a grant. Therefore, despite the limited opportunities, the team was capable of obtaining victory. This was possible through the innovative thinking, knowledge, and substantial motivation of Elon Musk (Schilling, 2018). Significantly, even his previous failed rocket launch permitted him to correct his mistakes to reach fruition.
The Company’s Special Features
Elon Musk’s enterprise competed with Delta IV and Atlas V launch systems made by United Launch Alliance (ULA). It is significant to note that SpaceX, unlike other companies, designed instruments that could be tested quickly and then enhance deficiencies. Thus, this presented advantages to the company, such as relatively low cost and rapid response to market needs. At the same time, the use of a single core made the BFR rocket easier and more idea-driven to launch (Schilling, 2018). In contrast, SpaceX’s competitors at the time practiced the usage of three cores, which was cumbersome to operate.
The Competitor
It seems to me that incumbent companies will not adopt elements of SpaceX’s model. This is because they will be capable of producing most rocket parts themselves or recycling non-SpaceX parts for rocket purposes. At the same time, the application of reversible engines and heat shields requires additional explanation by SpaceX engineers. Therefore, it is difficult for other companies to compete with Musk’s unconventional approach, reducing costs and making SpaceX a significant market player. It is worth mentioning that Jeff Bezos’s Blue Origin is a competitor to SpaceX, although Musk’s firm has considerable market advantages (Reddy, 2018). Its technology, instead of Blue Origin’s, is primarily experimental and can assist NASA in returning to the Moon.
Conclusion
Hence, for the first time in the history of spaceflight, the government entrusted the fate of its astronauts to private engineering companies. This decision was made because of the significant advantages of SpaceX and the new approaches to space activities. Accordingly, it can be observed that Musk’s enthusiasm and creation of interplanetary transportation have justified itself in the market. Thus, SpaceX remains a leader in the space industry and will continue to work toward its primary purpose.
References
Reddy, V. S. (2018). The SpaceX effect.New Space, 6(2), 125-134.
Schilling, M.A. (2018). SpaceX: Disrupting the space industry. School of Business, New York University.