US-China rivalry spurs investment in space tech - BBC News

The race to get back to the moon is fuelling US investment in private sector space firms.

15 hours agoShareclose panelShare pageCopy linkAbout sharingRelated TopicsArtemisImage source, Getty ImagesImage caption, SpaceX rockets are being used to carry private astronauts to the International Space StationBy Jonathan JosephsBusiness reporter, BBC NewsThe US is "in a space race with China to go back to the moon", says Nasa chief Bill Nelson.

In a BBC interview, Mr Nelson says he wants to make sure "we get there first".

His comments revive memories of the 1960s and 1970s, when Nasa was in a space race with the Soviet Union. But half a century later, Nasa is employing private companies to do much more of the work.

Mr Nelson says they are crucial because it allows for the huge costs to be shared, and for Nasa to draw on "the creativity of entrepreneurs in the private sector".

He points to Elon Musk's SpaceX, which in 2021 was awarded a $3bn (£2.4bn) contract to build a lunar lander, and has also developed the most powerful rocket ever built.

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