Financing the New Space Industry Breaking Free of Gravity and Govern

This Palgrave Pivot investigates the efforts of five aerospace companies—SpaceX, Blue Origin, Virgin Galactic, Orbital Sciences, and the Boeing Company—to launch their entry into the field of commercial space transportation. Can private sector firms raise

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Palgrave Studies in the History of Science and Technology Series Editors James Rodger Fleming Colby College Waterville, ME, USA Roger D. Launius Auburn, AL, USA

Designed to bridge the gap between the history of science and the history of technology, this series publishes the best new work by promising and accomplished authors in both areas. In particular, it offers historical perspectives on issues of current and ongoing concern, provides international and global perspectives on scientific issues, and encourages productive communication between historians and practicing scientists. More information about this series at http://www.palgrave.com/gp/series/14581

Howard E. McCurdy

Financing the New Space Industry Breaking Free of Gravity and Government Support

Howard E. McCurdy American University Washington, DC, USA

Palgrave Studies in the History of Science and Technology ISBN 978-3-030-32291-5    ISBN 978-3-030-32292-2 (eBook) https://doi.org/10.1007/978-3-030-32292-2 © The Editor(s) (if applicable) and The Author(s), under exclusive licence to Springer Nature Switzerland AG 2019 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the ­publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and ­institutional affiliations. Cover illustration: Blue Origin / Alamy Stock Photo This Palgrave Pivot imprint is published by the registered company Springer Nature Switzerland AG. The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland

This publication was supported by a NASA cooperative agreement number NNX16AH52G during the 2016–2017 academic year, part of a five-year solicitation by NASA’s Emerging Space Office to support research on the rapidly evolving commercial space sector and the public-private partnerships it entails. In preparing the original report, the author was assisted by Kristen Truong, Jack Kiraly and Robert B. Collom, all graduate research assistants in the School of Public Affairs at Americ