From flying cars to billionaires in outer space, the aerospace industry is revolutionizing daily air travel and effectuating a new space race. In an industry traditionally dominated by government entities like the United States, the European Union, China, and Russia, private industry is now gaining independent standing, and in some cases, leading the way. In order to secure their place in this revolution, players in private industry are pursuing the important relationships between research and development, intellectual property, and revenue potential.

Private industry’s involvement has already resulted in more economical and wider access to space and air travel, expanded technological development, and a renewed global public interest.

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