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NewSpace, or new space, is a movement and philosophy encompassing a globally emerging private spaceflight industry. Specifically, the term is used to refer to a global sector of new aerospace companies and ventures working independently of governments and traditional major contractors to develop faster, better, and cheaper access to space and spaceflight technologies, driven by commercial, as distinct from political or other, motivations to broader, more socioeconomically-oriented, ends.
 
Investment bank Morgan Stanley expects 2019 to show "key milestones and catalysts [in the new space sector]" and advises its customers to "pay attention to space companies".

Meaning of "NewSpace"