Advancing Aerospace in 2023 – Asteroid Mining, Reusable Rockets, and the JWST

The past year was a significant one for the Aerospace sector, and with 2024 fast approaching, there is no better time to take a look at a few the more notable advancements/achievements made during this time.

1. Asteroid Mining

One of the most impressive achievements of the year was the success of a mission that originally began when the OSIRIS-REx (Origins, Spectral Interpretation, Resource Identification, and Security – Regolith Explorer) set off on its travels to a near-Earth asteroid named Bennu.  The purpose of the mission? Land and extract a sample from the asteroid, before returning to Earth.

• September 8, 2016:  OSIRIS-REx launches
• October 20, 2020:  OSIRIS-REx lands on Bennu, collecting and storing surface samples in a capsule
• September 24, 2023:  OSIRIS-REx returns to Earth, depositing capsule to a landing site in Utah via parachute, allowing collected material to be retrieved

This mission is particularly notable, marking the first time the U.S. successfully completed such an endeavor.  In doing so, the sample collected from Bennu is expected to offer scientists crucial insights into the formation of planets and the origins of life, as well as improving our understanding of asteroids that could potentially impact Earth.

Source: National Aeronautics and Space Administration (NASA) / Goddard Space Flight Center (GSFC) / University of Arizona / Lockheed Martin, Public domain

After delivering the sample, the OSIRIS-REx spacecraft did not land but continued on a new mission, OSIRIS-APEX, to explore another asteroid, Apophis. This follow-up mission will study the physical changes to asteroid Apophis after the asteroid's rare close encounter with Earth in 2029.

The successful return of the asteroid sample is, without doubt, a remarkable achievement in space exploration and research.  The completion of this mission will not only provide valuable material for scientific study but enhance our understanding of our solar system.

One notable company involved in the success of this particular mission is none other than the Lockheed Martin Corporation.

Lockheed Martin Corporation (LMT -1.56%)

Lockheed Martin is a renowned aerospace and defense company.  To date, it has played a pivotal role in various space missions, including OSIRIS-REx where it functioned as the projects primary contractor.  The company's involvement in such high-profile space exploration projects has done well to highlight its strong position in the aerospace sector.

For investors, Lockheed Martin's participation in the OSIRIS-REx mission underscores the company's strategic involvement in long-term, high-value aerospace projects with governmental agencies.  This not only solidifies Lockheed Martin's status as a key player in the defense and aerospace industry but also presents potential for growth and sustainability in a rapidly evolving space exploration market.

2. Reusable Rockets

Companies like SpaceX have reinvigorated humankind's interest in space travel through innovative approaches and relentless drive.  Whether the end goal is establishing effective global connectivity or a colony on Mars, these feats look more attainable than ever, largely due to one major feat of engineering – reusable rockets.

Significant advancements were made in the field of reusable rockets in 2023, marking a potentially transformative era in spaceflight.  If all goes well, such rockets could set the stage for further innovations in 2024 and beyond.

Source: SpacecoasterVBG, CC BY-SA 4.0 <https://creativecommons.org/licenses/by-sa/4.0>, via Wikimedia Commons

To date, a primary focus on reusable rockets has been on enhancing their reliability and reducing required maintenance;  interestingly, another promising technology, Additive Manufacturing (AM) – commonly referred to as 3D printing – has played an important role in just that.

A key advancement in reusable rocket technology involves additive manufacturing (AM), particularly in printing parts for launch vehicles.  This approach has been increasingly adopted in the aerospace industry, with AM being used for metal propulsion devices and, to a lesser extent, in larger boost stage engines and their turbopumps.  This has been made possible through improved quality control and qualification protocols that have facilitated greater use of AM in critical-flight devices.  For instance, research at MIT has been focused on developing oxygen-compatible ceramic coatings and ignition-resistant AM materials that can be printed into complex shapes with the goal of enhancing thermal efficiency and resilience to high temperatures or rapid temperature changes experienced by many rocket components​.

Looking forward, advancements involving reusable rockets are only set to increase as the work being done by companies like SpaceX has already seen other entities like the European Space Agency (ESA) spurred into exploring similar technologies​​​.

As this technology matures, becoming more reliable, it will continually open more doors to what is possible in space.

• Scientific research
• Satellite deployment
• Commercial space tourism

Overall, the progress made in 2023 suggests that reusable rockets will continue to evolve, potentially leading to more frequent and cost-effective space missions.

Unsurprisingly, the most notable company affiliated with advancements involving reusable rockets is none other than SpaceX.  Led by CEO Elon Musk, SpaceX continues to revolutionize the aerospace industry with achievements that include its Falcon 9 and Falcon Heavy launch vehicles.  To date, SpaceX's successful launches and landings of reusable rockets have not only demonstrated their technical prowess but have also disrupted traditional space launch paradigms.

For investors, SpaceX's role in the reusable rocket arena signifies a transformative shift in space technology, offering long-term growth potential in both commercial and government space markets. The company's continued success in this domain positions it as a leader in the new era of space exploration, with promising prospects for future developments and collaborations.

As it stands, SpaceX remains a privately held company believed to be valued between $150 billion and $ 175 B at the time of writing.

3. James Webb Space Telescope

Finally, there is the James Webb Space Telescope (JWST).   While it may have officially gone live in January 2022, this past year was a remarkable one for the JWST, as it has continued to provide us with never-before-seen imagery of the cosmos, providing new insights into the working universe.

Source: https://www.nasa.gov/missions/webb/nasas-webb-rings-in-holidays-with-ringed-planet-uranus/

We recently highlighted one of its more recent tasks, as it captured fresh footage of Uranus and various of its moons, as seen above.  A few of its most notable observations from 2023 include,

• Imaging Rho Ophiuchi cloud complex, a stellar nursery revealing young stars and planetary formation processes
• Imaging HH 211, showcasing possible twin stars with glowing gas columns
• Detecting life-essential chemicals in the Orion Nebula's Orion Bar

Importantly, these achievements represent a mere glimpse into the potential long-term impact of JWST on astronomy.  As we head into 2024, the JWST stands poised to continue creating enthusiasts of humankind's explorations into space.

With regards to the JWST, one notable company involved in its creation was the Northrop Grumman Corporation

Northrop Grumman Corporation (NOC -2.63%)

Northrop Grumman is a prominent global aerospace and defense technology company that played a crucial role in developing the James Webb Space Telescope (JWST) – one of the most advanced space observatories ever built.

As the primary contractor for JWST, Northrop Grumman was responsible for the design and construction of the telescope, allowing the company to showcase its expertise in cutting-edge aerospace technology and large-scale project management.

For investors, Northrop Grumman's delivery of the JWST underscored its standing in the aerospace sector and its potential for future growth in both government and commercial space markets. Like the companies previously noted, Northrop Grunman's participation in such groundbreaking projects demonstrates its commitment to innovation and technological advancement. This should make it an attractive option for investors looking at long-term growth in the defense and space industries.

*Figures provided above were accurate at the time of writing and are subject to change.  Any potential investor should verify metrics*