A New Era of Space Commerce

A new era of space commerce is lifting off and bringing new opportunities for aerospace manufacturing. Frank DiBello, President of Space Florida presented some statistics and an interesting perspective on the aerospace and defense industry to members of the National Space Club Florida Committee.  He mentioned that even though civil aviation suffered devastating consequences from the pandemic, and the defense area was impacted by supply chain disruptions, there are opportunities to bring the industry back.  One way is to re-shore the supply chain, especially the critical major prime and 2^nd tier suppliers.  Companies are also rethinking the way they’re operating.  Future growth sectors are anticipated in the areas of:

• Aerospace Manufacturing:
  • Next generation Air platforms
  • Advanced technologies and tools for MRO
  • Simulators and training devices
  • Autonomous vehicles and related technologies
  • Hypersonics – new materials and prototyping
• Space Industry Development and Manufacturing:
  • Next generation spacecraft, satellites and robotics
• Advanced Computational Systems including Connectivity and Cyber
• New Materials

There is so much potential for business and growth in the Era of Space Commerce.  DiBello shared that the outlook is good for the global space industry.  Over 76% of global revenue comes from these commercial sources and demand for:

• Escalating bandwidth
• Video/data
• New value-added aps and service companies
• Global interconnectivity
• Launch support
• Low Earth orbit services and “Cis-Lunar Economy”

In addition, The Space Report issued by the Space Foundation, stated that 2019 saw more than $423 billion in global space activity.  The report included stats of 16.1% annual growth of space infrastructure and support sector; a 73% increase in global space activity in the last decade; and 48% annual growth of commercial spacecraft deployments.

One final point of emphasis was made by DiBello, companies should be diligent in securing their systems and implementing certification/compliance to cybersecurity measures like that of CMMC (Cybersecurity Maturity Model Certification).

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