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.
On January 22, Secretary of Commerce Wilbur Ross delivered remarks about space commerce at the World Economic Forum in Davos, Switzerland. He spoke during an event titled, “A New Space Race: Getting to the Trillion-Dollar Space Economy.” Secretary Ross discussed…
On January 14, Office of Space Commerce Director Kevin O’Connell delivered a keynote address and moderated a panel on “Business Models of the Space Economy: Where is the Money?” at the GeoBuiz Summit 2020 in Monterey Bay, California. Below are…
The Commerce Department’s Bureau of Economic Analysis (BEA) and Office of Space Commerce have initiated a new effort to measure the relative importance of the space sector on the U.S. economy. Called the Space Economy Satellite Account (SESA), the effort…
On December 3, Office of Space Commerce Director Kevin O’Connell delivered a keynote address at the U.S. Chamber of Commerce’s 2nd Annual Space Summit, LAUNCH: The Space Economy. Below are his remarks as prepared for delivery. Remarks of Kevin M.…
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…
(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)…
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…
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…
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…
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.…