StratSpace was acquired by Phantom Space Corporation. The giant space agency claims this partnership will lead to cheaper space travel.
In this handout photo released by the South Korean Defense Ministry, South Korea's Hyunmu-2 ballistic missile is fired during an exercise aimed to counter North Korea's nuclear test on September 4, 2017 in East Coast, South Korea. South Korea's military said Monday it conducted a combined live-fire exercise in response to North Korea's sixth nuclear test a day earlier.
Also Read: NASA's New Earth System Observatory Could Address Climate Change: Here's How It Works
Aside from this, Phantom Space said that working with StratSpace will allow it to manufacture rockets and other spacecraft faster than other space companies. Because of this, critics and other space analysts claim that Phantom Space could be a turnkey space service.
To give you more idea, a turnkey space service can offer rockets and other products that can be used outside the world faster compared to SpaceX, and other giant independent and international space organizations.
Here are other details of the latest collaboration of Phantom Space and StratSpace.
StratSpace x Phantom Space
Right now, various space agencies are currently creating different rockets and other space innovations that would help people reach farther in space.
In this handout image supplied by NASA, The Soyuz TMA-19M rocket with Expedition 46 Soyuz Commander Yuri Malenchenko of the Russian Federal Space Agency (Roscosmos), Flight Engineer Tim Kopra of NASA, and Flight Engineer Tim Peake of ESA (European Space Agency) launches into space from Baikonur cosmodrome on December 15, 2015 in Baikonur, Kazakhstan.
These include SpaceX, which prepares to launch its Falcon Heavy rocket, as well as NASA, which is conducting experiments to launch its James Webb space telescope's Golden Mirror.
And now, Phantom Space and StratSpace want to join these giant space organizations in making amazing space missions, and other out-of-this-world activities.
"[StratSpace] has all the know-how, all the tools, the satellite structures, communication systems that can make a spacecraft operate," said Michal Prywata, Phantom Space's co-founder via Tech Crunch's latest report.
"Which is very critical for us, because we want to be one of the first companies that cover that full spectrum of service from start to finish," he added.
On the other hand, Phantom Space confirmed that it will combine its mass rocket manufacturing strategy with other acquisitions, especially the recently acquired StratSpace. The space agency claimed that this will allow it to be a one-stop-shop, which will soon reduce the price of commercial and study-focused space missions or travels.
Other Plans of Phantom Space
Yahoo Finance reported that Phantom Space is preparing various innovations to achieve its goals. These include outsourcing many components, such as avionics systems, engines, and more.
However, the rising space company said that it will still take years before it can achieve cheaper space flights and faster spacecraft manufacturing processes.
For more news updates about Phantom Space and other giant space organizations, always keep your tabs open here at TechTimes.
Related Article: China's Tianzhou to Use Massive Robotic Arm: Here's How It'll Build the Chinese Space Station
This article is owned by TechTimes
Written by: Griffin Davis
