A primer to new space business - Beyond “Business in space: The new frontier” (Goodrich, Kitmacher and Amtey, 1987)

The purpose of this article is to serve as a primer and gateway to contemporary developments around New Space as an entrepreneurial phenomenon. Despite its media-presence, commercial space activity in Low Earth Orbit (LEO) has been mostly absent from the management literature. We use considerations that Goodrich et al. had voiced in Business Horizons in 1987 with their piece “Business in Space: The New Frontier” to pick up on earlier thinking around venturing into space, update highlighted themes, and go beyond those. Our article follows the structure set out in 1987 and covers the current state of space commercialization, obstacles to space commercialization, opportunities in space, marketing and managerial implications, and concludes with research avenues. We find that entrepreneurship in space is currently in a phase overcoming many of the previously voiced obstacles, embracing the opportunities that space offers beyond catering to government agencies as main clients. We call this contemporary period for space Transition Space, which is situated between Old government-driven and venture-driven New Space. We argue that space is a critical new context not only for entrepreneurial activity but for entrepreneurship research as well. Our article contributes to the nascent space management literature. • Provides an overview of the evolution of space business motivated by Goodrich et al. in 1987 and contemporary developments. • Situates current space business as Transition Space in between Old and New Space. • Offers opportunities in space and poses critical questions to aspiring space managers. • Points to nascent research related to space business and suggests future research avenues.