Virgin Galactic (SPCE) is an Aerospace company that is among the first to enter into the commercial space flight industry. Virgin Galactic believes in the massive potential of space exploitation and monetization of commercial space flight and is positioning themselves to be a leader in the space.
The market for commercial space flight is a new concept that is yet to be explored, however there are a few other companies that are trying to break into this industry as well.
In the history of mankind, there have only been 581 humans to ever explore space. However, all of these people have been handpicked by governmental space agencies and have been trained for many years. Virgin Galactic is trying to change this and make space flight available to high net-worth individuals (at the moment) so that these seemingly regular people have the chance to do something extraordinary and explore what space has to offer.
Thus far, Virgin Galactic has $80M in deposits from over 600 people, who are interested in using Virgin Galactic as a vehicle to explore space. Virgin Galactic is expecting to receive their last FAA approval needed to fly their customers in their aircrafts.
Over the past decade, space flight has been innovated consistently, through rapidly advancing technologies, decreasing costs, and greater access to capital for private space flight companies/organizations. Many governments have taken a hands-off approach to space flight and funded private companies who compete for contracts and are forced to be constantly innovating in order to win these contracts. This competition has resulted in technologies that greatly reduce the waste, emissions, and cost of space travel.
Virgin Galactic has been able to incorporate the best innovations in space flight into their aircrafts to create a reusable rocket that increases launch consistency, number of launches, and decreases the cost of space exploration.
Virgin Galactic is exploring certain strategic relationships in order to advance their technologies, identify new applications, accelerate their progress, and enhance their growth as a company.