Space tourism stocks are ready for take-off. Should all go well, the industry could be worth up to $800 billion by 2030, says UBS, as reported by Forbes. By 2040, the industry could be worth $1 trillion, added Morgan Stanley. Plus, there’s already a good deal of pent-up demand. According to analysts at Cowen, 39% of people with a net worth of more than $5 million are already interested in paying at least $250,000 for a flight, says CNBC. Even billionaire-run companies, like Amazon (NASDAQ: AMZN), Tesla (NASDAQ: TSLA) CEO Elon Musk’s SpaceX, Virgin Galactic (NYSE: SPCE) are ready for lift-off. Even companies, like Maxar Technologies (NYSE: MAXR) (TSX: MAXR), and Maritime Launch Services Inc. (NEO: MAXQ) (OTCQB: MAXQF) are gearing up for big launches of their own.
Look at Maritime Launch Services Inc. (NEO: MAXQ) (OTCQB: MAXQF), For Example
Maritime Launch Services Inc., owner and operator of Canada’s first and only commercial spaceport, Spaceport Nova Scotia, applauds the Government of Canada’s announcement today to support commercial space launch activities in Canada.
The Government of Canada’s comprehensive support includes the modernization of regulatory requirements, safety standards and licensing conditions necessary for commercial space launch in Canada.
“This is a great day for Canada. This announcement signals a bold move to claim our rightful place as a global space leader,” said Stephen Matier, CEO of Maritime Launch Services. “We are pleased that today’s news follows closely on the heels of significant momentum for Maritime Launch in 2022. Construction of Spaceport Nova Scotia – North America’s only commercial launch facility – is now underway and we are excited to continue our work with Transport Canada, the Canadian Space Agency and all other federal departments and agencies to bring the promise of today’s announcement to reality.”
Purpose built commercial launch regulations will enable Canada to launch domestic and globally produced satellites and technologies that inform and provide solutions to pressing challenges including bringing broadband to rural communities and providing data to fight climate change.
Maritime Launch received environmental assessment (EA) approval from the Province of Nova Scotia in 2019 and received approval to begin construction of Spaceport Nova Scotia in September 2022. Construction of the spaceport is now underway on 300 acres of crown land under a 40-year lease from the province.
“Breaking ground on Spaceport Nova Scotia was a clear signal to the global space sector that Canada would soon have global launch capabilities – and satellite companies from around the world have since signaled their strong demand to launch from Nova Scotia. Maritime Launch has satellite client multi-launch term sheets, a long list of launch vehicle companies across North America and Europe looking to partner, and now, the support of the Government of Canada,” said Matier. “With today’s announcement, the global space industry can be confident that commercial launch in Canada is not only here, but it has this government’s support. It’s time to launch Canadian space innovation from Canada and welcome the world to Canso, Nova Scotia for commercial launch.”
Other related developments from around the markets include:
Tesla’s Elon Musk’s SpaceX is “reportedly raising $750 million in a new funding round that values the company at $137 billion. The round includes investors such as Andreessen Horowitz, and follows news in November that SpaceX was in talks for an offering that could value the company at up to $150 billion,” as noted by Forbes.
Amazon’s Executive Chairman’s Blue Origin “has quietly been making progress on its orbital New Glenn vehicle, evident by new hardware and test sightings. This progress has been made alongside the ongoing investigation into an in-flight abort of the fourth suborbital New Shepard mission of the year, which continues to keep that program grounded,” says NASASpaceFllight.com. In December, “Blue Origin was seen testing fairings for New Glenn in the water at the Kennedy Space Center turn basin. While not publicly confirmed, this could be part of a series of tests to evaluate the possibility of reusing the fairings, similar to how SpaceX recovers and reuses Falcon 9 and Falcon Heavy fairings.”
Maxar Technologies, a provider of comprehensive space solutions and secure, precise, geospatial intelligence, completed the acquisition of AI and software development company Wovenware. This acquisition significantly adds to Maxar’s software engineering and AI capabilities and talent. Founded in Puerto Rico in 2003, Wovenware has roughly 150 employees specializing in software development, service design, artificial intelligence and geospatial production. The company will become one of Maxar’s software development and AI/machine learning (ML) centers of excellence, with its software delivery experts partnering closely with other Maxar teams to develop new solutions for customers.
Virgin Galactic, an aerospace and space travel company, announced its updated leadership structure to support commercial spaceline operations, which are on track for Q2 2023 as previously announced by the Company. The organizational changes will support the Company's core near-term objectives of delivering increased flight frequency and executing on rapid fleet development plans. As part of this leadership update, Swami Iyer, President, Aerospace Systems, will be departing from his position, effective January 12, 2023. He will continue to serve as an advisor to Michael Colglazier, CEO of the Company, until March 3, 2023 to ensure a smooth transition. "With the completion of the enhancement program for our mothership at hand, our streamlined leadership structure will help propel the business forward as we prepare for commercial spaceline operations," said Colglazier. "Swami has been instrumental in establishing our future production strategy and in leading the work to prepare our initial ships for commercial flight, and we are incredibly grateful for his contribution. Our experienced leadership team brings deep expertise to the next exciting phase for the Company – flying our customers safely and regularly to space and expanding our future fleet."
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