NewSpace is a philosophical movement often associated with the newly emerging private spaceflight industry. The term is used to categorize a number of corporations which have taken a different approach to spaceflight than that which is typical of government space programs and/or the mainstream aerospace industry as a whole.
Usually, NewSpace companies are primarily funded privately, with only marginal involvement of government funding or organizations. Additionally, most NewSpace companies pursue a low-cost approach to spaceflight by driving towards innovation within the field. Companies commonly associated with NewSpace are SpaceX, XCOR Aerospace, Bigelow Aerospace, Virgin Galactic, and more.