Space Economy

The Commerce Department facilitates the growth of the U.S. space economy through a variety of means, including studying economic trends in the commercial space market and supporting the space sector’s needs for commercial financing and insurance.

Secretary Ross Hosts Space Startup Summit

Secretary Ross seated on stage with five panelists in front of large audience

On October 21, 2019, Secretary of Commerce Wilbur Ross hosted a Space Startup Summit in the Commerce Department auditorium. The event brought together space entrepreneurs, venture capitalists, technology accelerators, and federal agencies to explore ways the government can foster and

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Posted in Business with the Government, Space Economy

Secretary Ross to Host Space Startup Summit on Oct 21

Secretary of Commerce Wilbur Ross

(Update to original post of September 26, 2019) The Department of Commerce will host a special event on space startup innovation and financing on Monday, October 21, 2019, from 9:00 a.m. – 12:00 p.m., while the International Astronautical Congress (IAC)

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Posted in Business with the Government, Space Economy

Remarks from Space Commerce Workshop at NIST Boulder

Kevin O'Connell (holding mic) and six other panelists on stage

On September 12, the Department of Commerce hosted a space commerce workshop at the NIST campus in Boulder, Colorado. The event brought together industry, academia, and federal government organizations to identify key technology and measurement barriers to deploying and safely

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Posted in Space Economy, SSA/STM

O’Connell Remarks from Space Economy Workshop

Kevin O'Connell speaking before audience

On September 5, OSC Director Kevin O’Connell delivered the keynote address at a workshop on “Exploring the Hidden Economic Value of Space Applications” hosted by SDA Bocconi School of Management-SEE Lab, the Secure World Foundation, and the GWU Space Policy

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Posted in Space Economy

GPS Economic Study Presentation

Presentation cover: RTI International - Economic Benefits of the Global Positioning System (GPS) - August 6, 2019 - Alan C. O'Connor - Michael P. Gallagher

On August 6, the Office of Space Commerce hosted a public briefing to discuss a recently published study of the economic benefits of GPS. The study, sponsored by DOC’s National Institute of Standards and Technology (NIST), estimates that GPS generated

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Posted in GPS, Space Economy

Secretary Ross Remarks at OneWeb Satellites Ribbon Cutting Ceremony

On July 22, Secretary of Commerce Wilbur Ross attended at a ribbon cutting ceremony for the OneWeb Satellites satellite production facility in Merritt Island, Florida. He delivered remarks highlighting the recent economic recovery and resurgence of the Florida Space Coast.

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Posted in Space Economy, SSA/STM

Remarks from PSSI Space Security Conference

On June 11, 2019, Kevin O’Connell delivered remarks at the PSSI Space Security Conference in Prague, Czech Republic. Below are his remarks as prepared for delivery. The Role of the Private Sector in Space Security Fifth PSSI Space Security Conference

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Posted in Space Economy, SSA/STM

DOC Study on Economic Benefits of GPS

On June 6, RTI International released a comprehensive study of the economic benefits of the U.S. Global Positioning System (GPS). The study, commissioned by the Commerce Department’s National Institute of Standards and Technology (NIST), estimates that GPS generated $1.4 trillion

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Posted in GPS, Space Economy

Secretary Ross Hosts Event on Space Risk and Opportunity

Secretary Wilbur Ross speaking at podium before audience

On March 5, Secretary of Commerce Wilbur Ross hosted an event on space risk and opportunity at the Department of Commerce. The event featured speakers from the space insurance industry and commercial providers of space situational awareness data and services.

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Posted in Space Economy, SSA/STM

Op-Ed by Secretary Ross on the $1 Trillion Space Economy

On February 28, 2019, Secretary of Commerce Wilbur Ross published an opinion piece in the Orlando Sentinel titled, “Launching toward a $1 trillion space economy.” It celebrates the space industry achievements of 2018 and outlines five elements needed to further

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Posted in Space Economy