Another Strong Market Report for Earth Observation

Top Stories from The Journal of Space Commerce for the Week Ending 7/19/24

The hits keep coming for the Earth Observation Market, which continues to show strength in a new market report from Face.MR.

The company's analysis of the EO market found it could reach a valuation of $6.8 billion this year and increase to $14.6 billion by 2034 at a CAGR of eight percent.

Among the factors influencing the market are growing demand for efficient monitoring of vast land areas; innovations in satellite technology, remote sensing methodologies, data analytics, and machine learning; and the use of EO data for climate studies, atmospheric research, biodiversity monitoring, and geological surveys.

The researchers found that increases in manufacturing and falling launch costs are also contributing to the market's strength, and those trends are likely to continue.

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Government and community officials recently visited the Rocket Lab space-grade solar cells manufacturing facility in Albuquerque, NM to celebrate the company’s signed preliminary agreement under the U.S. CHIPS and Science Act.

Rocket Lab’s solar cell facility has been a technology hub in Albuquerque for the past 25 years, employing more than 370 people.

The proposed funding will also allow Rocket Lab to bring more than 100 direct manufacturing jobs to Albuquerque in addition to expanding and modernizing its facility. The modernization and expansion project will increase Rocket Lab’s compound semiconductor production by 50% within the next three years powering critical space programs, missile awareness systems, and exploratory science missions.

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SpaceX launches are on hold pending an investigation into a launch anomaly last week that resulted in the loss of a batch of SkyLink satellites. The Merlin Vacuum engine in the Falcon 9 second stage experienced an anomaly and was unable to complete its second burn.

The FAA issued a statement indicating that it was requiring an investigation designed to further enhance public safety, determine the root cause of the event, and identify corrective actions to avoid it from happening again.

A return to flight will be based on the FAA determining that any system, process, or procedure related to the mishap does not affect public safety. In addition, SpaceX may need to request and receive approval from the FAA to modify its license that incorporates any corrective actions and meet all other licensing requirements.

The pause may impact two planned manned launches in the near future, including a scheduled crew rotation mission and the Polaris Dawn private mission that is to feature the first spacewalk by a private citizen.

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The New Zealand Civil Aviation Authority (CAA) has awarded Dawn Aerospace a certificate to fly its Mk-II Aurora at unlimited speeds, including supersonic, up to 80,000 feet altitude. This certification permits operations beyond visual line of sight (BVLOS) without the need for restricted airspace.

The Mk-II vehicle is now poised to take a significant step towards its ultimate goal of flying to 100 km altitude multiple times per day. Achieving this would also set records for speed, altitude, and climb rate for a self-powered aircraft. "At full performance, the Mk-II will fly faster and 2.5 times higher than any prior aircraft that takes off from a runway, including the current record holder, the SR-71 Blackbird. That is the power of bringing rocket performance to an aircraft platform,” said Dawn Aerospace CEO Stefan Powell.

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This week on The Ex Terra Podcast, Tom Patton talked with Dr. Tina Highfill, PhD., about the impact of the space industry on the U.S. GDP.

Tina is a research analyst for the Department of Commerce's Bureau of Economic Analysis, which recently released its most recent statistics concerning the impact of Space Commerce on the country's GDP for the years 2017-2022. The findings show the space economy accounted for $131.8 billion, or 0.5 percent, of total U.S. GDP in 2022.

The estimates developed by BEA give business leaders, policymakers, and the public a new tool to analyze the space economy and to inform investment decisions.