Exploration of space

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Since the dawn of the Space Age, exploration has been a driving force in humanity’s quest to reach the farthest limits of space. This ambition culminated in missions such as the 2014 New Horizons probe, which reached Pluto, then considered the last planet in our solar system. Nearly six decades after the USSR launched Sputnik 1, space exploration remains a heavily government-funded endeavor, with national space agencies financing the construction, launch, and monitoring of probes and missions. Currently, approximately €73 billion is invested annually in space-related activities, including exploration, Earth observation, and research programs. This investment is projected to more than double to €160 billion by 2040, reflecting growing interest and expanding opportunities in the sector.

Charles Bolden, former NASA Administrator and current President of The Bolden Consulting Group LLC, emphasizes the vast potential of the space industry and market. During an interview at the XXXI Future Trends Forum, he highlighted the need for private companies to increase their investment in space operations to fully realize these opportunities. As the commercialization of space advances, collaboration between public agencies and private enterprises is expected to drive innovation, expand capabilities, and unlock the unlimited potential of space exploration in the coming decades.

The new space industry must not forget the importance of continuing to explore space.

Exploration, our desire to reach the furthest limits of space, has been a key activity since nearly the beginning of the Space Age–even though we did not reach the final planet in our solar system until July 14, 2014. Well, that is how Pluto was classified at the time, when the New Horizons probe was launched. Close to 57 years had passed since the USSR put Sputnik 1 into orbit.

Simulación de la sonda New Horizon de camino a Plutón

In this facet of the space industry, income stems from the construction of a variety of probes, launches and the monitoring of missions from Earth. Similar to research, space exploration has always depended on government funding. National governments, through their corresponding space agencies, have financed every mission, and there are no signs of change in the near future.

73 billion euros are invested on annual basis. This figure is expected to grow to 160 billion by 2040. However, research programs with closer ties to Earth as well as Earth observation satellites also receive this money.

Current investment in space exploration is worth €73 billion.

Growth estimates point to €160 billion by 2040.

The potential of space exploration is unlimited

Interview to Charles Bolden, Former NASA Administrator, President of The Bolden Consulting Group LLC and Trustee of Bankinter Innovation Foundation, at the XXXI Future Trends Forum about the Commercialization of Space.

For Charles, both the industry and the space market have a great potential, although we need companies to invest in operations there.

Charles Bolden
Charles Bolden

Former NASA administrator. Founder & CEO Emeritus at The Charles F. Bolden Group LLC

First as a Marine Corps Major General and then as NASA Administrator, Charles F. Bolden Jr. has dedicated his life to the service of the United States, working to secure our nation’s security, prosperity, and guiding efforts to explore our universe and better understand our fragile planet.

In 2009, President Barack Obama appointed Bolden to be the 12th NASA Administrator, making him only the second astronaut to hold that position. While heading NASA, Bolden oversaw the transition from the space shuttle system to a new era of exploration, fully focused on the International Space Station (ISS) and aeronautics technology development.

Bolden led the development of the Space Launch System and the Orion Crew Capsule. Bolden also oversaw the shift toward commercial space initiatives handling resupply of the ISS. He created NASA’s Space Technology Mission Directorate, responsible for developing the technology that will make future exploration missions successful. Bolden’s tenure included the triumph of the Mars Curiosity Rover landing, the success of the Juno mission that is helping us understand the planet Jupiter more completely, increasing the number of satellites tasked with Earth observation tasks, and continuing progress toward the December 2021 launch of the James Webb Space Telescope. Not forgetting that the first “A” in NASA stands for Aeronautics, Bolden also focused his attention on NASA’s aeronautics programs and the agency’s goal of developing airplanes that can travel faster, farther, quieter and greener than ever before. During his career as a NASA astronaut, Bolden flew on four space shuttle missions, logging over 680 hours in space. He piloted Space Shuttle Columbia in 1986 (STS-61C) and Space Shuttle Discovery in 1990 (STS-31) – the mission that deployed the Hubble Space Telescope. He also served as Mission Commander on Space Shuttle Atlantis in 1992 (STS-45), and Space Shuttle Discovery in 1994 (STS-60). Bolden also served as Chief of NASA’s Safety Division at the Johnson Space Center in the wake of the 1986 Space Shuttle Challenger disaster.

Bolden also had a long and distinguished military career. A graduate of the U.S. Naval Academy, Bolden flew over 100 combat missions during the Vietnam War. He later served as a test pilot for the Naval Air Test Center’s Systems Engineering and Strike Aircraft Test Directorates. After completing his service as an astronaut in 1994, he served as the Assistant Commandant of Midshipmen at the Naval Academy, and in 1998 as the Commanding General of the Marine expeditionary force attached to Operation Desert Thunder in Kuwait. He last served as Commanding General of the 3rd Marine Aircraft Wing at Marine Corps Air Station Miramar, California, prior to his retirement from the Marine Corps.

Bolden also had a long and distinguished military career. A graduate of the U.S. Naval Academy, Bolden flew over 100 combat missions during the Vietnam War. He later served as a test pilot for the Naval Air Test Center’s Systems Engineering and Strike Aircraft Test Directorates. After completing his service as an astronaut in 1994, he served as the Assistant Commandant of Midshipmen at the Naval Academy, and in 1998 as the Commanding General of the Marine expeditionary force attached to Operation Desert Thunder in Kuwait. He last served as Commanding General of the 3rd Marine Aircraft Wing at Marine Corps Air Station Miramar, California, prior to his retirement from the Marine Corps. Bolden holds a Master of Science Degree in Systems Management from the University of Southern California. His past honors include the Defense Distinguished Service Medal, the Defense Superior Service Medal, the Distinguished Flying Cross, Air Medal, three NASA Exceptional Service Medals and four NASA Space Flight Medals. He received the Rotary National Space Trophy in 2014, the Wright Brothers Memorial Trophy in 2020 and holds Honorary Doctorate degrees from numerous institutions of higher education. He was inducted into the U.S Astronaut Hall of Fame in 2006 and the National Aviation Hall of Fame in 2016. He served as a U.S. Department of State Science Envoy for Space from 2018-2019.

Bolden is married to the former Alexis Walker of Columbia, SC. They have two children, A. Ché Bolden, Colonel, USMC (Ret.), Dr. Kelly Bolden, MD, and four grandchildren – granddaughters Mikaley, Kyra and Talia and grandson Walker Elias. He serves today as the Founder and CEO Emeritus of The Charles F. Bolden Group LLC, a veteran-owned small business specializing in space/aerospace exploration, national security, leadership, education (STEM+AD) and health initiatives.