The Japanese company Obayashi has said that by 2050, they will have built a space elevator. The elevator will go 96,000 km (60,000 mi) into space and move people and packages to a new space station. It will also be a port where astronauts can go to Mars and other places.
“The building process involves putting up the cable and building the facilities. It’s important to look at how the cable moves in order to estimate what the cable, counterweight, facilities, and climbers will be like and to figure out how to build it.
The tension, displacement, and lengthening of the cable because of climbers going up, the weights of the counterweight and cable, the wind, and the fixed loads of the facilities are all parameters for the cable dynamics. We designed the system and figured out how to build it with the help of a computer simulation of the equations of motion.” ~Obayashi
See more about their model in the video below.