Market expansion
Executives highlighted the importance of the new space race in the expansion of the space market. The U.S., China, Japan and India, along with the private sector, view the moon as a critical component of securing rare resources, furthering sustainable energy, and securing satellites. Peter Cannito, CEO of Redwire Corp., referred to the company’s recently announced award to develop trailblazing systems to build landing pads, roads and other forms of infrastructure on the moon. Cannito said: “The future lunar economy, based on a permanent presence on the lunar surface, will bring significant benefit to humanity, and for developing lunar infrastructure solutions to support this critical mission.” Government spending is on the rise. Marc H. Bell, CEO of Terran Orbital Corp., said the U.S. organization for licensing satellites has received 60,000 applications. Many nations are investing in their own satellite constellation and transfer layer.