NASA is designing the Ares V heavy-lift cargo launch vehicle to send more crew and cargo to more places on the lunar surface than the 1960s-era Saturn V and to provide ongoing support for a permanent lunar outpost. This uncrewed cargo vehicle is designed to operate together with the Ares I crew vehicle (Figure 1). In addition to this role, however, its unmatched mass and volume capability represent a national asset for exploration, science, and commerce. The Ares V also enables or significantly enhances a large class of space missions not thought possible by scientists and engineers since the Saturn V program ended over 30 years ago. Compared to current systems, it will offer approximately five times the mass and volume to most orbits and locations. This should allow prospective mission planners to build robust payloads with margins that are three to five times the industry norm. The space inside the planned payload shroud has enough usable volume to launch the volumetric equivalent of approximately 10 Apollo Lunar Modules or approximately five equivalent Hubble Space Telescopes. This mass and volume capability to low-Earth orbit (LEO) enables a host of new scientific and observation platforms, such as telescopes, satellites, planetary and solar missions, as well as being able to provide the lift for future large in-space infrastructure missions, such as space based solar power and mining, Earth asteroid defense, propellant depots, etc. In addition, payload designers may also have the option of simplifying their designs or employing Ares V s payload as dumb mass to reduce technical and operational risk. The Ares V team is engaging the potential payload community now, two to three years before System Requirements Review (SRR), in order to better understand the additional requirements from the payload community that could be accommodated in the Ares V design in its conceptual phase. This paper will discuss the Ares V reference mission and capability, as well as its potential to perform other missions in the future