Civilian space travel used to be something we just read about in science fiction novels. Today, it is more realistic than ever, particularly now that two civilian spacecrafts have successfully launched into suborbital space.
The vehicles were developed by companies founded by Richard Branson and Jeff Bezos, who were among the passengers in the voyages. And as the new Space Race enters its next chapter of commercial space travel, aerospace firms and other companies are looking at where they might fit in.
Existing products, new opportunities
Space travel may be futuristic, but existing products can be a crucial element in moving the industry forward.
Thus, businesses in manufacturing, engineering and other sectors may be exploring their own new frontiers in terms of whether their offerings can be changed or repurposed for space travel.
For instance, one company produced hydraulic lifts for the spacecraft developed by Bezos’ company, Blue Origin. But the business has long been involved in non-space-related transportation equipment. Over time, it has grown and expanded its operations. Using existing approaches and technology regularly used in trucking and aviation equipment, the company then produced hydraulic lifts that went into space.
Protecting your innovations now and in the future
This situation can serve as a helpful reminder to think beyond the present when developing new ideas and products for your business. It’s not just about how you use, sell and license your creations right now, but how you might do so in the future as technology and markets change.
Thus, securing patents for technical inventions or processes can take on a whole new level of importance if you create something that you might someday use in sophisticated aerospace equipment. And taking a proactive, forward-thinking approach to protecting your intellectual property can be crucial.