Here's why the space industry is great - the stratosphere is the ultimate barrier to entry. Getting to space takes decades of engineering, billions of dollars and strong client relationships. The sector is out of bounds to all but a handful of the most advanced aerospace players. Private rocket builders have put in years of R&D and tough rocket science, and now they're reaping the rewards. They've won the trust of NASA and the US Department of Defense and have launched hundreds of satellites for private customers.
And they're going to be needed. The Obama administration has decided that the economics of space exploration is broken, not the science. Their plan: get out of the low earth orbit business by retiring the space shuttle programme, and rely on private industry to build the technology to ferry people and cargo into space.
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