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How It Works: World’s Fastest Elevator The first commercial passenger elevator, installed by Otis Elevator Company in 1857, climbed 40 feet a minute. 
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Space elevators have been our shared dream for years, but like other promising technologies of the future, they’re just concepts on a distant horizon. Now a Japanese construction firm that specializes in the very tall could make them a reality. By 2050, so still pretty far on that horizon, but hey, it’s a start.
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Transporting astronauts and supplies to and from the International Space Station (ISS) has never been cheap. And it’s the same with the launching of satellites to low-Earth orbit – the area between 100 and 1,200 miles above the Earth.
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A Japanese company plans to build an elevator to outer space by 2050.
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The space elevator will be built about 50 years after everyone stops laughing," said science fiction writer Arthur C. Clarke, a long time ago. [...] The idea of a space elevator dates back to the late 19th century, when Russian scientist Konstantin Tsiolkovsky proposed a free-standing structure that would essentially act as a really long elevator, connecting Earth to a platform in geostationary orbit (some 35,000km) in space. [...]
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