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Title:How Space Factories Are Becoming A Reality
Duration:14:57
Viewed:355,821
Published:20-08-2023
Source:Youtube

Space offers a unique environment for research and development because its higher levels of radiation, microgravity and near vacuum-less state allow companies to come up with new manufacturing methods or materials that are not possible on Earth. It's a fledgling market that analysts and several startups are predicting will take off. The market for materials manufactured in space could reach $10 billion by 2030, according to estimates from McKinsey & Co. In-space manufacturing is not entirely new. The International Space Station has hosted several experiments from academics, government agencies and commercial customers for things such as growing human tissue, making purer semiconductors and developing new or better drugs. But access to the ISS has always been competitive and interest continues to grow. A number of space startups see an opportunity to fill this gap for in-space manufacturing demand using compact space factories. CNBC spoke with two such companies, California-based Varda Space Industries and UK-based Space Forge, to see how the startups hope to make manufacturing in space a profitable business. Chapters: 00:00 — Introduction 02:23 — Varda Space Industries 08:20 — Space Forge 12:45 — What's next? Produced, Shot and Edited by: Magdalena Petrova Camera: Andrew Evers Animation: Jason Reginato Supervising Producer: Jeniece Pettitt Additional Footage: Getty Images, NASA, Varda Space Industries, Space Forge, Rocket Lab » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC How Space Factories Are Becoming A Reality



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