Few industries have shown as much growth in recent years or as much potential for increased activity as has the global space industry. Space touches our daily lives through applications such as telecommunications, remote sensing, surveillance, and navigation. Despite a series of launch failures, the long-term outlook for the U.S. space industry remains strong. However, government investment in research and development (R&D) is dwindling at a time when major trends for the industry include globalization, deregulation, and privatization. The demand for low-cost launch has stimulated the creation of innovative launch services. Yet, market uncertainties highlight the continuing maturation process of the space industry. Government's role is to provide enlightened export policy, superior infrastructure, and strategic direction to stimulate continued growth.
ICAF Industrial Studies 1999