MT Magazine September/October 2024

MANUFACTURING MATTERS

SEPTEMBER/OCTOBER 2024

9

Manufacturing Matters Check in for the highlights, headlines, and hijinks that matter to manufacturing. These lean news items keep you updated on the latest developments.

TECHNOLOGY

What Technologies Are Driving the Space Race? The growth of the space industry represents the convergence of simulations, material sciences, and additive manufacturing (as well as the democratization of space technologies, the impact of NASA papers, and private equity funding, but that is a discussion for another time). High-performance computing makes simulations faster, more frequent, and with higher resolution than before. These advancements not only lead to better designs but also improve the manufacturing process, leading to greater confidence in the first part off the manufacturing line. This is crucial for space, where volumes are still low. Lighter-weight structures are made possible by composites, and additive manufacturing processes help to determine the most efficient flow paths for nozzles. From design to manufacturing, digital iterations through simulation form the foundation for strong and reliable physical parts. This is an exciting time for manufacturing space components.

INTELLIGENCE

Space Industry Valued at $445 Billion and Growing The space sector is undergoing a transformative period driven by technological advancements and significant private sector investments. The cost of manufacturing, launching, and operating satellites has plummeted, thanks to innovations like reusable rockets and the miniaturization of satellite technology. In 2022, according to Bryce Tech, the space industry set a record with 186 successful rocket launches, highlighting the rapid pace of growth and the potential for manufacturers to capitalize on this momentum. According to the Space Foundation, the global space economy was valued at $445 billion in 2023 and is poised for further expansion. Companies like SpaceX are leading the charge with ambitious plans and investments. SpaceX alone raised approximately $2 billion in 2022 to support its initiatives, including 87 rocket launches, moon exploration projects, and the expansion of the Starlink internet service. As the space sector continues to evolve, manufacturers have a unique opportunity to innovate and align themselves with the significant investments being made by players in this nascent industry.

SMARTFORCE NASA’s Artemis Program Shines at Smartforce Student Summit

NASA’s Artemis program made a second appearance at the Smartforce Student Summit at IMTS 2024, captivating attendees with its ambitious vision. The exhibit revealed the space agency’s plans to establish a lasting presence on the moon and pave the way for missions to Mars. Thanks to the ongoing commitment of IMTS to produce the Summit, thousands of student visitors interacted with NASA representatives to better understand how advanced manufacturing technology plays a crucial role in building and maintaining the mission-critical supply chains and components that are essential for these groundbreaking endeavors. The event energized students and educators with a glimpse into the future of space exploration and the technological innovations driving humanity’s next giant leap.