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Impact Of Space Exploration On Economy

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Abstract

Space exploration is the use of astronomy and space technology to explore outer space​.This article deals with the impact of space exploration on the economy. It also deals with the several,distinct ,diverse and far-ranging economic impacts generated due to space exploration including economic expansion in cities and surrounding regions, acceleration of technological advances, and growth of new industries and scientific fields.

Introduction

Common rationales for exploring space include advancing scientific research, national prestige, uniting different nations, ensuring the future survival of humanity, and developing military and strategic advantages against other countries. Thus it has a huge impact on Economy it also helps in making the communication system of a country more advanced. It helps in weather prediction and advancing the agricultural system of a country. It also helped us in finding sustainable forms of energy which will never end which is solar energy now-a-days it is the most important form of energy.

New Technologies and Research

Humans did not evolve to go into space, but we go there anyway. That has led to the development of various technologies that feed back into the economy and improve our lives on Earth. Without space programs, we wouldn’t have GPS, accurate weather prediction, solar cells, or the ultraviolet filters in sunglasses and cameras. There’s also medical research happening in space right now that could cure diseases and prolong human lives, and these experiments can’t be done on Earth. Space exploration could save your life.In general we can say that space exploration is the base of advancement of technology and innovations in science technology.Many of the research going in current time totally dependent on space exploration.By this we also get to know about our own planet earth which helps in increasing the level of living standard of people and we get to know about resources present also which later may be helpful in replacing the place of renewable source of energy.

Economic Benefit

Many people think space exploration is just a waste of money but it is not so. Satellite communication navigation system, earth observation mission space science and technology all create employment Though, space exploration is expensive, difficult and dangerous. But It matters a lot for the economy of a country. The technology spinoffs from the research and development dedicated to space missions alone are worth the investment. During the past 50 years, NASA technologies have made their way into medical, architectural, military, automotive, and artistic applications, just to name a few. Everything from personal computers to solar energy have roots in the human spaceflight program. The investment we have made has paid off in a big way: estimates for return on investment range from $2 back for every $1 spent to $7 for every $1 spent.

A. Making the Agriculture system more advanced​.

Agriculture forms the basis of the world’s food supply.​The goal of Satellite Agriculture is to ensure profitability, sustainability and protection of the environment. It helps in making the agriculture system more advanced and helps us in producing maximum yield from resources available.It is very helpful in predicting whether of a reason which is very helpful in agriculture purposes.It also acts as third eye for farmers. Remote sensing satellites provides the key data for monitoring soil,snow cover,snowfall, rainfall and from time to time it also provides us the current status of crop development.The satellite used television cameras to take pictures of clouds as it orbited the Earth​.​It provides key data about amount of rainfall which will occur in any region which helps farmers in deciding the amount of irrigation and Which is very necessary for ensuring food-security for such a large population.

B. Making defence system more strong

Space Exploration is very important for making the defence system stronger.In current time every country defence system has their space cell It is also a matter of National prestige for any country. It helps in creating an image of any country as a strong country in front of the world if any of our enemy country tries to enter our country then our satellite will provide the whole information about that. We have many different satellites for this . They are like the third eye of our country. Actually , in current time it is a cold war between countries to be stronger than others in defence and satellite communication.Some satellite designed by our scientist are helping our army in providing security to our country

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C. Space Mining Could Save the World

As we develop new technologies on Earth, the strain on our natural resources continues to increase. The extraction of valuable minerals has led to a host of problems, including environmental damage and human exploitation, but there’s a wealth of precious materials in space. Startups like Planetary Resources want to mine asteroids instead of Earth, which would mean an effectively unlimited supply of raw materials that are rare on Earth.

D. Entertainment industry

As we all know the entertainment industry has a huge impact on the economy and it is totally a result of revolution in space technology we are all enjoying songs, movies, live matches and many other things only due to it. By this we get to know about satellite signals and how signals are transmitted from one place to another by the use of height very easily.

Providing Fast internet

There is no need to say that today everything is Online and everybody is nothing without a good internet connection. Space exploration is something which led to fast internet connection to everybody.From sharing information to paying money orin every field like education,defence economy every field is up to date now and fast internet is crucial for every field.

Medical benefits

Various experiments on the ISS(Internet space station) have also used the culture of cells, tissues and small organisms on orbit as a tool to increase our understanding of biological processes in microgravity. Looking back, space exploration has already provided us with numerous medical benefits. Over the years, NASA can claim at least partial credit for a wide variety of medical innovations, from ear thermometers and automatic insulin pumps to implantable heart defibrillators and improvements in digital mammography technology.

Research helps medical science to create various products to prevent harmful UV radiations like sunglasses and sunscreen.It also help in benefit of cosmetic industry as now they are making cream and lotions which protect us from harmful radiation of sun which is found by a medical research based on space and this research is used in expanding economy and also protecting us such harmful radiations.Current space research pursuits are divided into the subjects of Space Biology, which studies the effects of space on smaller organisms such as cells, Space Physiology, which is the study of the effects of space on the human body and Space Medicine, which examines the possible dangers of space on the human body. Which later helps in innovating equipment which helps astronauts in surviving on an international space station.

Navigation system

Today we all are able to send text messages to anyone in a few seconds and we are able to find the location of any place using Google maps withdrawing money at cash points and many routine tasks are now performed by the touch of button it is possible due to digital revolution accelerated by ​sophisticated infrastructure in space. We are able to keep track of any object using modern devices like chips. These are possible due to the GPS system. We are moving towards a cashless economy and use to do payment just by touching the screen with full security without any risk it is all possible due to the GPS system, they keep track of every activity which we are doing and they help in keeping our data private.

Conclusion

Finally we conclude that there is a positive and a huge impact of space exploration on the economy. It helps in creating new technologies . Making the Agriculture system more advanced helping farmers in producing more yield and helps in providing food security to such a large population and making the defence system of a country more strong. It also created a new revolutionary in medical science and helps in creating products like sunglasses preventing us from UV radiation. It also creates employment.We all have a cashless economy. It is possible just because of the space revolution.

REFERENCES

  1. https://www.bizjournals.com/phoenix/blog/techflash/2016/01/what-space-exploration-means-for-the-growth-of-our.html
  2. https://www.extremetech.com/extreme/268062-5-reasons-space-exploration-is-more-important-than-ever
  3. https://www.esa.int/Enabling_Support/Preparing_for_the_Future/Discovery_and_Preparation/Socio-economic_impact_of_space_activities
  4. https://www.bizjournals.com/phoenix/blog/techflash/2016/01/what-space-exploration-means-for-the-growth-of-our.html
  5. https://www.bizjournals.com/phoenix/blog/techflash/2016/01/what-space-exploration-means-for-the-growth-of-our.html
  6. https://www.bizjournals.com/phoenix/blog/techflash/2016/01/what-space-exploration-means-for-the-growth-of-our.html
  7. https://www.bizjournals.com/phoenix/blog/techflash/2016/01/what-space-exploration-means-for-the-growth-of-our.html
  8. https://www.extremetech.com/extreme/268062-5-reasons-space-exploration-is-more-important-than-ever
  9. https://www.extremetech.com/extreme/268062-5-reasons-space-exploration-is-more-important-than-ever
  10. https://www.extremetech.com/extreme/268062-5-reasons-space-exploration-is-more-important-than-ever
  11. https://www.esa.int/Enabling_Support/Preparing_for_the_Future/Discovery_and_Preparation/Socio-economic_impact_of_space_activities
  12. https://www.esa.int/Enabling_Support/Preparing_for_the_Future/Discovery_and_Preparation/Socio-economic_impact_of_space_activities
  13. https://www.esa.int/Enabling_Support/Preparing_for_the_Future/Discovery_and_Preparation/Socio-economic_impact_of_space_activities
  14. https://www.esa.int/Enabling_Support/Preparing_for_the_Future/Discovery_and_Preparation/Socio-economic_impact_of_space_activities

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Impact Of Space Exploration On Economy. (2022, February 17). Edubirdie. Retrieved August 15, 2022, from https://edubirdie.com/examples/impact-of-space-exploration-on-economy/
“Impact Of Space Exploration On Economy.” Edubirdie, 17 Feb. 2022, edubirdie.com/examples/impact-of-space-exploration-on-economy/
Impact Of Space Exploration On Economy. [online]. Available at: <https://edubirdie.com/examples/impact-of-space-exploration-on-economy/> [Accessed 15 Aug. 2022].
Impact Of Space Exploration On Economy [Internet]. Edubirdie. 2022 Feb 17 [cited 2022 Aug 15]. Available from: https://edubirdie.com/examples/impact-of-space-exploration-on-economy/
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