From the Soviet launch of Sputnik in 1957 to Neil Armstrong’s “giant leap for mankind,” the space race between the world’s superpowers, the United States and the Soviet Union, captivated many including my generation.  This space race motivated me to launch my first career as a rocket engineer.

Fresh out of college, I landed an engineering position with General Dynamics where I cut my teeth designing, building, and testing missiles with the defense industry.  For a couple of years (prior to joining Deloitte, a Big 4 accounting and consulting firm, as a management consultant), I worked hard at launching and guiding missiles to their target and innovated ways for the space business to apply the new and emerging computer technology.

After landing on the moon and a few more lunar missions, the United States efforts in space shifted to the Space Shuttle Transport system and ultimately the International Space Station.  For over twenty years, shuttle launches were a national event, carried by major networks and watched by millions of people.

However as space travel became more routine the public’s interest in space waned.  It wasn’t until the new millennium that support for a modern moon mission began to earn vocal support.

Recent federal budget proposals have cut out the new lunar program and shifted the space transportation business to commercial companies.  The space program’s budget is set to have a new emphasis on science.  This would be a dramatic shift for the space program which has long relied on its NASA operations.

The potential demise of the new lunar program might seem by many to be the nail in the coffin of a space program that has been plagued by miscalculations, tragedies and budget woes.  However there are others who see the glass as half full and will view the changing space program as the perfect opportunity to profit from a profitable, growing, and well-managed private sector in the aerospace and defense industry (where I began my career as mentioned previously).

It would be impossible to enjoy many of our modern communication and entertainment amenities without the benefit of space travel.

Technology for space travel, specifically satellites, has greatly improved technology ranging from defense to predicting weather.  Our forays into the final frontier have furthered other important advancements such as super-strong and heat-resistant metals.  In fact, the space program has helped pave the way for a number of profitable companies in the aerospace and defense industry, especially those in satellites.

In a recent World Market Survey of satellite construction and launch trends, there is the prediction of a busy decade with over 1,185 spacecraft expected to be launched.  This will be a 47% increase of the previous decade.  On the commercial side, low-orbiting satellites for the mobile voice and data industry sector will need to be upgraded.  Emerging economies such as India and China will also help fuel the growth as their respective governments become more heavily involved in the new space age.

I trust this post has provide some background and evidence that powerful efforts are underway to commercialize satellite production, launches and other space technology.  Business opportunities are emerging with companies that will prepare and send satellites and cargo into space for its government and commercial clients that will span needs of the Defense Department, those studying the solar atmosphere and the influence of the sun on the Earth, as well as transport of NASA astronauts to the International Space Station and safely back to earth.  These innovative business ventures and commercialization of space activities are generating alternative wealth creating opportunities that could make you a Space Age Millionaire.

In closing, I favor a quote from Steve Forbes.  Forbes says that pursuing additional financial education and the resulting increase in our financial literacy (including the investment potential of breakthrough technology) will open our eyes to alternative wealth creating strategies and this will be the key to resolving our global financial crisis.

To gain the necessary financial education, it is best to obtain association with, access to, and membership in a wealth creation community.  As a result, you will learn and have the knowledge to use alternative wealth creating strategies such as Bank on Yourself, debt reduction, and asset protection.  You will be exposed to wealth acceleration investments in areas (discussed in previous blog posts) such as commercial space ventures, Carrier Ethernet technologies, nanotech lithography, robotics, nano-based next-generation battery technology, precious metals, water rights, oil, natural gas, potash mines, food commodities, and gold mines.  You will have the knowledge to consider investments in energy assets that are inherently useful like oil rigs, hydropower, or methanol plants; things that are hard to build, difficult to replace, and costly to substitute; definitely not financial stocks, definitely not retail stocks, definitely not commercial property.

It is wise to monitor breakthrough technology as there are truly exciting developments afoot in the field of commercial space activities and businesses.  I will continue to monitor developments and provide updates in future articles and at my blog over the next few weeks.

Finally, I want to thank Greg Guenthner and Jim Nelson of Agora Financial as they were the source of some of the materials about the technology advancements mentioned in this post.

In closing, be sure to read more of my posts at aspenIbiz my Internet Marketing blog, learn some tips about being No 1 on Google at apenIbiz my Go-To-Market Partners, my affiliate website, and learn how to be savvy with your money like the insiders at aspenIbiz my Conspiracy For Your Money blog.