2022 is set to be a major year for the space economy. There are 15 new launch vehicles are set to debut this year, according to the Space Foundation — more than any other year in space history. Last year, US spaceports had more launches than any year since 1967, and the number is climbing. Meanwhile, employment in the core US space industry employment is at a 10-year high.
The momentum is there for a flourishing space economy that, according to NASA leaders, could in 20 years take public and private missions beyond low Earth orbit (LEO), with services and infrastructure on the lunar surface and in cislunar space. It’s a fast-growing economy, NASA leaders said at the 37th Space Symposium, that offers promising opportunities for young people who want to get their foot in the door.
The space economy is already a $400 billion industry “and on the way to $1 trillion, and I suspect it’ll get there faster than we think” James Reuter, associate administrator for the Space Technology Mission Directorate (STMD) at NASA, said during a panel this week at the 37th Space Symposium in Colorado Springs.
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“It’s not just venture capitalists that are geeks for space” that are bringing this economy to life, Reuter said. “It’s also much more conventional people looking for opportunities. There’s a lot more opportunities for capital investment.”
And while investments in LEO are a mainstay, he said, “there’s a strong push towards cislunar space… We’re seeing a lot of investment we can take advantage of.”
Read more: zdnet
