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Koehler added the “increased commercial activity in space” through endeavors such as Jeff Bezos’ Blue Origin space tourism flights will combine with the Webb discovers to spark “a newfound interest, maybe a new space race for this generation.” And because Webb can see so much more than Hubble ever did, hopefully, it'll start that.” “I was quite younger when the Hubble telescope was first launched, but I remember at that time the possibilities and the wonder of seeing things we'd never seen before. “I'm hoping that the web news today will really sort of spark the public a little bit here,” said Brian Koehler, a supervisor at the Treworgy Planetarium in Mystic, Connecticut, in a Benzinga interview. However, there is optimism that the attention surrounding the Webb photographs could help bring more enthusiasm – and, by extension, funding – to the space sector. And that will be one of the biggest things that comes out of this era.” “There’s a huge amount of innovation going on in the industry and we’re training an entire generation of space professionals. 'Government can be a major source of strength in pushing across that,' he said.

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Yet Hart also warned about 'that chasm of death that we’ve all learned about,' a reference to the distance between creating new technologies and securing funds from government procurement programs to ensure their development into full maturity. 'There’s capital coming in, there are ideas that are being developed.' 'I think that the government needs to evaluate, select, nurture on a cyclical basis,' Hart said. government enjoys an 'enormous opportunity right now' to increase its focus on commercial space projects as a strategy to prevent the sector from stumbling. That will change.”ĭan Hart, CEO of Virgin Orbit (NASDAQ: VORB), told the Space Innovation Summit audience that the U.S. In the past, we have been in an environment with low-interest rates, meaning that cash was cheap, it was plentiful, and therefore there was a lot of investment in a lot of different things. “So, we won’t see companies with dubious business models necessarily being invested in. “What we’ll see now with interest rates up in a recession is a lot more focus on what we invest in,” he said.

“I think we’re really looking at a sea state change,” said Tory Bruno, CEO of United Launch Alliance, a rocket manufacturer and a joint venture of Lockheed Martin’s (NYSE: LMT) space division and Boeing Company’s (NYSE: BA) defense, space and security division.īruno predicted that a fraying economy and a threat of recession will spook investors away from ventures they might consider to be of a higher risk, including space. 'We expect the slowdown in public capital markets activity to continue, at least in the near-term, until market volatility remains subdued for a sufficient period of time,” said a report published by Quilty Analytics, a market research firm focused on the space sector.Īccording to coverage of this week’s virtual Space Innovation Summit, several industry leaders fear the worse. and global economies might spill over into this industry. The View From Below: While few people will deny the visual brilliance of the Webb photographs, within the space sector there is a murmur of concern that ongoing tumult in the U.S. I can’t wait to see the discoveries that we uncover - the team is just getting started.' 'We take dreams and turn them into reality for the benefit of humanity. “The Webb team’s incredible success is a reflection of what NASA does best,' he added.

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