The expansion of the New Space paradigm has driven the growth of commercial spaceflight, exposing critical gaps in international accident investigation frameworks. While civil aviation relies on globally harmonized mechanisms established by International Civil Aviation Organization Annex 13, the commercial space sector lacks standardized structures to address transnational accidents involving private operators and proprietary technologies. This article analyzes the first Brazilian investigation of a commercial space accident—the launch failure of the HANBIT-Nano vehicle—conducted by the Aeronautical Accidents Investigation and Prevention Center (CENIPA) under the newly established Space Activities Accidents Investigation and Prevention System (SIPAE). Employing a qualitative single-case study approach grounded in participant observation, the study examines the development of national investigative capacities and emerging institutional dynamics. The findings demonstrate that independent, technically robust investigations can be achieved through a combination of national institutional capability, adapted methodologies, and what this study conceptualizes as investigative diplomacy— ad hoc cooperative arrangements designed to reconcile procedures and safeguard intellectual property. As its main contribution, this article proposes an Integrated Governance Architecture for Commercial Space Accident Investigations based on five interdependent pillars: investigative independence, secure access to technical knowledge, structured industry participation, transnational investigative cooperation, and sustainable investigative capacity. The study concludes that accident investigation must be recognized as an essential governance function, critical to ensuring long-term safety and sustainability within the New Space ecosystem.
The global context shaped by the COVID-19 pandemic has highlighted the critical importance of connectivity, transforming it from a perceived privilege into a fundamental necessity for social, educational, and economic activities. In countries with complex geographies such as Peru, ensuring equitable access to telecommunications services remains a significant challenge. While national initiatives—such as the deployment of a fiber-optic backbone network—have improved connectivity across many regions, important gaps persist in remote and hard-to-reach areas due to geographic, climatic, and investment constraints. In this context, satellite telecommunications emerge as a strategic solution to extend coverage and complement existing terrestrial infrastructure. This paper presents a feasibility study for the development or acquisition of a national telecommunications satellite in Peru, aimed at expanding connectivity to underserved populations and supporting key sectors such as education, remote work, agriculture, and rural development. This work analyses an explicit geopolitical and financing comparison of precedent cases in the region, a corrected and internally consistent bandwidth-demand model, a multi-reference cost benchmark drawing on five comparable satellite systems, and a financial decision-making model that weighs a dedicated national satellite against co-owned regional capacity and emerging low-Earth-orbit (LEO) alternatives. The study evaluates technical and operational requirements, including coverage analysis, power budgets, bandwidth estimation, and service demand projections, and considers the integration of the satellite system with existing ground infrastructure across different implementation scenarios. The analysis indicates that a national or regionally shared satellite system is a technically credible way to address elements of the digital divide, but that its economic and strategic advantage over co-owned capacity or LEO-based alternatives depends strongly on financing structure, full life-cycle costing, and the degree of operational sovereignty sought, rather than on payload capacity alone.
Future long-duration missions to Mars will require in situ food production systems to reduce dependence on resupply missions and enhance crew autonomy. This study evaluated the growth performance of peas, Pisum sativum, cultivated in Martian regolith simulant (MMS-1) ameliorated with black soldier fly, Hermetia illucens , (BSF) frass at inclusion levels of 0%, 10%, 25%, and 50% by volume. Pea plant fitness was then assessed over the course of two, 8-week greenhouse trials by measuring germination rate, plant height, leaf chlorophyll content, and final dry biomass. These were compared against peas grown in a control substrate consisting of commercially available gardening soil treated with the same frass-inclusion percentages (0%, 10%, 25%, or 50% by volume). Germination and height responses were statistically similar between regolith and soil, suggesting that properly amended regolith may be able to sustain in situ crop growth on Mars. Notably, peas grown in regolith simulant (without perchlorates) + frass exhibited slightly higher chlorophyll content than the controls, while biomass productivity was lower than commercial potting mix + frass when comparing across the same frass-inclusion percentage. These findings represent the first experimental evidence that BSF frass can enhance crop cultivation in a Martian soil analog, highlighting its potential role in bioregenerative life support systems and in situ resource utilization strategies. In addition, fitting quadratic regression models to the data indicated an optimal frass inclusion between approximately 5% and 32% (depending on which metric was to be maximized), beyond which fitness declined. Beyond space applications, these findings build on prior studies by further supporting the value of insect-derived amendments for improving nutrient-poor or degraded soils.
For six decades, human spaceflight has largely been shaped by stringent medical and operational eligibility criteria. However, the commercialization of low Earth orbit and the broader ethos of the New Space era invite a reexamination of who space systems are designed for. This Perspective argues that disability inclusion in commercial spaceflight should be treated not only as a matter of equity but also as a driver of safer and more adaptable design. Drawing on the Social Model of Disability and the United Nations Sustainable Development Goals, we suggest that in some intravehicular microgravity contexts, certain terrestrial impairments may become less limiting, while also emphasizing that launch, landing, emergency egress, and mission duration remain major constraints. We further argue that design features developed for users at the margins—such as multisensory cues, simplified controls, and adaptable interfaces—can produce broader safety and usability benefits across commercial crews. This is not an argument that all disabilities can already be accommodated across all mission profiles. Rather, it is a case for staged, mission-specific inclusion under clearly defined safety conditions. Framed in this way, disability becomes a serious design lens through which commercial spaceflight can broaden participation, strengthen resilience, and align more credibly with the principle that space should benefit all humanity.
In its 2026 initial public offering, SpaceX sought a market “valuation” of up to $1.75 trillion and ultimately achieved a market capitalization of approximately $1.77 trillion. Strong investor demand subsequently pushed its market capitalization above $2 trillion before a sharp correction, after which the share price remained highly volatile. This raises the question of whether SpaceX is intrinsically worth $1.75 trillion or even more. The case illustrates the broader challenge of valuing New Space companies, where technological uncertainty and substantial future growth opportunities make conventional valuation approaches difficult to apply. However, valuing New Space companies does not require reinventing the wheel. Rather, established valuation methods must be carefully selected and adapted to distinguish intrinsic value from market expectations and speculative narratives. Using SpaceX as a case study, this article develops a value investing framework for the valuation of New Space companies.
