The term “New Space” ironically isn’t that new. The name has been in existence and used since the early 1980s. It came about to describe companies starting to develop space systems capable of reaching outer space without assistance from government space agencies such as NASA. This activity and independent development gave rise to a significant shift in U.S. policy favouring private space activity. This resulted in the landmark Commercial Space Launch Act of 1984.
The idea is that NASA and other large government based space agencies are bureaucratic and slow. By empowering private space activity, technology moves faster; more competition is introduced, further improving the technology. Great examples of private space companies that have seen great successes within the last few years include SpaceX, Blue Origin and the Space Frontier Foundation.
TT Electronics plc (LON:TTG) is a provider of engineered electronics applications for performance-critical applications. The Company works with customers in the industrial, medical, aerospace and defence, and transportation sectors.