I. Introduction
a. The new entrants in the space industry
The domination of the US and Europe over the space industry is getting lowered with the increased presence of other nations such as China making their presence felt in the space industry. However, the major companies that do business in this sector are from the US. The recent entrants in the industry such as SpaceX, Orbital ATK, Sierra Nevada,etc. to name a few have been in the forefront of the industry lately and have been making their presence felt thereby giving traditional / long haul players such as Boeing a run for their money(Technavio, 2018). The market share of various players in the space industry is given in the subsequent section.
The market share for the space industry business of Boeing started taking a dip from the year 2002. The major ethics scandal that rocked this business gave a jolt to the company to wake the sleeping giant, however being in other business segments especially in the passenger aircraft business and the military aircraft business kept the company going. It needs to understand that this period also paved the way for its competitors in the aircraft business especially the European company Airbus to take the considerable lead from Boeing and created a dent in this business as well.

The above info graphic extracted from the website DCINNO speaks in volumes on how the market share of the company has been lost to other players in the market(Schwartz, 2015). This report published in the year 2015 speaks about how Boeing has a market share of only 11.4% in the space industry and when compared to the “other” players in the market have a 19.8%. The pole position is occupied by Lockheed Martin Corporation with a market share of 31.7% and what could be termed as worrying could be the fact that the new entrants such as Orbital ATK and GenCorp are close behind at 7.%% and 6.4% respectively. This clearly depicts the loss of the business from being at the top to be degraded as just one among the competition.

Space programs of many nations were considered to be the prerogative of the various national governments with the private sector being pushed back to a behind the scenes role in the past, however the scenario has undergone a sea change in the past decade with more private players launching their own ambitious space programs giving a boost to various national space programs thereby leading to a virtual space race. Companies have already announced package tours to space in various formats and have started accepting bookings from prospective customers. Though these are prohibitively expensive for the common man it is the prerogative of a few rich people and as time passes space travel is bound to become a reality in a few years from now, and mankind is possibly on its way to occupy other planets nearby and may be the moon.
b. How Boeing Company has lost market power over the decade?
Apart from its commercial aircraft business Boeing has a business for which the defense sector is one of the only customers and this business has its fair share of controversies over the past years. The company is just about coming out of an ethics scandal which saw many heads roll among its top ranks. The scandal which broke out at the beginning of this new millennium saw Boeing at the losing end of many contracts which made the company take a back seat in the space industry business and one of its major customer NASA called off many large contracts and refused to give more contracts to the company. This period also saw the rise of many companies from the private sector into the aerospace business with more focus on the space business. Companies which provided by backend services to the space industry also came into the forefront of the space industry in the same period thereby increasing the competitive landscape in the industry.
The company has had to undergo many years of “course correction” because of a few unethical practices by select persons within the organization leading to catastrophically effects. Though the company tried hard to regain its lost image in business, it was too late to regain the lost space as new entrants capitalized on the absence of a large player of the size of Boeing and made their mark on the industry. This period also saw the growth of disruptive technology, product and service offerings from the new entrants into the industry which made things worse for a Boeing. Having been used to do business in a market where there were virtually no competition things couldn’t be worse for Boeing in this period, competitors made a fast-paced run in the absence of large industry player thereby reducing the position of the company to just another player in the market where Boeing enjoyed a near monopoly position.
II. Disruptive technologies in the space industry
a. The disruptive technologies from the new entrants
The term disruptive technology is generally referred to about evolution of technologies that disturb the status quo of technologies available in the market. Disruptive technology as the name suggests is highly relevant in all segments of technology starting from the humble radio to the latest cutting edge of technology used in various industry segments. In the case of the space industry, the disruption has not just been in the use of the outer space that surrounds our planet earth which was earlier used for defense purposes such as in spying, high-end communication and later on for weather forecasting,etc to name a few. Today the disruption is more about technology as well end use of space sojourns, for example, companies are thinking of ferrying passengers to the moon and or to the outer space as a recreational activity over and above the disruption in the technology that is being applied. The use of reusable space craft’s for carrying men and material to international space stations and might be even to planet Mars is being considered by few companies and working their way towards such objectives which hitherto unheard of. Large space craft’s which needed billions of dollars of government funding are now replaced with more sleek ones and faster ones with advanced computing facilities. Today there are more of reusable space launch vehicles which have the abilities to carry satellites of various sizes and configurations apart from carrying multiple satellites to be placed ingeostationaryorbits in pre-designated locations in outer space. Similarly, space vehicles designed to carry passengers to the moon and back are also on the anvil(Stiennon, 2018).

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