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.

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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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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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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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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Secretary Ross Hosts Space Investment Summit

Secretary Ross with panelists in front of audience

On December 12, 2018, Secretary of Commerce Wilbur Ross hosted a Space Investment Summit at the Department of Commerce, bringing together leaders from the commercial space industry and the finance community to learn about each others’ needs. Secretary Ross moderated a

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Posted in Regulatory Reform, Space Economy

Secretary Ross Remarks at U.S. Chamber of Commerce

Secretary Wilbur Ross speaking at the U.S. Chamber of Commerce LAUNCH event

On December 6, Secretary of Commerce Wilbur Ross addressed the U.S. Chamber of Commerce at the LAUNCH: Industry Taking Off summit in Washington, D.C. Secretary Ross spoke about the growth of the commercial space industry and the ways in which

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Secretary Ross Remarks to AIA

On November 29, 2018, Secretary of Commerce Wilbur Ross addressed the Aerospace Industries Association (AIA) at its 2018 Fall Board of Governors meeting in Laguna Niguel, California. His remarks described the broad range of activities in which the Department of

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Remarks on the Trillion Dollar Space Economy

On November 27, 2018, Kevin O’Connell delivered a keynote address at the SpaceCom 2018 conference in Houston, Texas. Below are his remarks as prepared for delivery. Good morning, ladies and gentlemen. My name is Kevin O’Connell, and I am the

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Published Article on Economic Benefits of GPS

The September 2015 issue of GPS World magazine includes an article by economist Irv Leveson on the economic productivity benefits of GPS. The Office of Space Commercialization led the interagency team of federal economists and subject matter experts who guided

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Presentation on GPS Economic Study

On June 11, economist Irv Leveson delivered a public presentation on the preliminary results of his ongoing study on the economic benefits of GPS. The Office of Space Commercialization leads the interagency team of federal economists and subject matter experts

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Posted in GPS, Space Economy