Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: I'll swear let's talk about this. The Space Foundation out
Speaker 2: with its latest quarterly report showing global commercial revenue jumping
Speaker 2: eight percent from a year ago to six hundred and
Speaker 2: thirteen billion, the leading driver of the private sector, which
Speaker 2: accounts for seventy eight percent of the space economy, government
Speaker 2: budgets making up the smallest portion of just over one
Speaker 2: hundred and thirty billion. Potential catalyst for growth include President
Speaker 2: Trump's Golden Dome, ebon, mus Starlink, and commercial spaceflight. Joining
Speaker 2: us now to discuss is head Pringle, the CEO of
Speaker 2: the Space Foundation Head to welcome to the program. Lots
Speaker 2: to work through here, but the numbers that jump out
Speaker 2: to me are the seventy eight percent coming from private enterprise.
Speaker 2: Do you see the private sector doing much of the
Speaker 2: heavy lifting of the space economy for the years forward
Speaker 2: and the foreseeable future.
Speaker 1: Absolutely, the commercial sector is right now valued at four
Speaker 1: hundred and eighty billion dollars for twenty twenty four, and
Speaker 1: that is an eight percent growth over the prior year.
Speaker 1: And when we look at the twelve sectors that constitute
Speaker 1: the commercial market, we look at position, navigation and timing,
Speaker 1: which comprises two hundred thirty one billion dollars. The number
Speaker 1: two service just behind that is ground infrastructure and equipment,
Speaker 1: coming in at one hundred and twenty three billion dollars.
Speaker 1: Both of these sub sectors showed a ten percent growth
Speaker 1: over the prior year. So with something like position navigation
Speaker 1: and timing, this is coming into every swipe, tap and
Speaker 1: left turn that you make using those global navigation satellite services.
Speaker 3: Heather, I'm struck by the fact that, yes, the private
Speaker 3: sector is the one that it's leading the charge into
Speaker 3: space exploration and space use and the space economy, and
Speaker 3: yet there's a huge national security component to this, with
Speaker 3: the likes of China and Russia trying to exploit this
Speaker 3: whole network, possibly disrupting the United States. It's based on
Speaker 3: your research with the Air Force, your service with the military.
Speaker 3: I'm just wondering how prepared the United States is for
Speaker 3: that in terms of government coordination with the private sector.
Speaker 4: Well.
Speaker 1: Absolutely, the United States is the number one investor in
Speaker 1: the global space economy, and this includes all sectors commercial, civil, government,
Speaker 1: as well as national security.
Speaker 4: Now you were pointing out what the United States is
Speaker 4: doing on the.
Speaker 1: National security side forty nine billion dollars of investment into
Speaker 1: our national security enterprise. Over ninety percent of that is
Speaker 1: going to the newest service, that is the United States
Speaker 1: Space Force. This is well ahead of what we see
Speaker 1: China is investing. For example, on the civil government side,
Speaker 1: the United States is investing twenty seven billion dollars in
Speaker 1: the civil government space economy. China is investing seventy percent,
Speaker 1: So we're well ahead on that. You can also look
Speaker 1: at the launch record, for example, the first six months
Speaker 1: of twenty twenty five, the United States is launching at
Speaker 1: a record ninety seven already launches.
Speaker 4: These first six months.
Speaker 1: China is only a fraction of that, well under twenty.
Speaker 1: So the United States is leading, it's leaning forward, and
Speaker 1: it's doing a lot to prepare for this. You mentioned
Speaker 1: Golden Dome as well. This is a huge initiative, valued
Speaker 1: at one hundred and seventy five billion dollars for the
Speaker 1: entire development effort. It's going to have a large commercial component.
Speaker 1: They're looking at short timelines. They want capability, whether it's
Speaker 1: everything from sensing to tracking to intercepting, and the commercial
Speaker 1: space market is really ready to deliver. Well.
Speaker 5: The Golden Dome just locked in thirteen billion dollars. They
Speaker 5: named someone to be a project leader, but this morning
Speaker 5: is reporting that Trump is looking for alternatives to musk
Speaker 5: SpaceX to lead that project. What companies in the private
Speaker 5: sector could lead that project?
Speaker 1: In your view, well, this is going Golden Dome is
Speaker 1: going to be a national security project led by the
Speaker 1: recently confirmed four star general Mike Gootline. He'll be here
Speaker 1: with us today at our program. But to your point
Speaker 1: about who are the commercial entities who can step up
Speaker 1: to the plate, there are a number of companies that
Speaker 1: are leaning forward delivering capability. This is a multi layered capability.
Speaker 1: When you look at the totality of what Golden Dome is,
Speaker 1: it's launch, it's sensing, it's tracking, it's intercepting. And so
Speaker 1: even if you did take a deeper look at the
Speaker 1: launch enterprise, there are over fourteen companies around the world
Speaker 1: who can deliver that ten different nations.
Speaker 4: So it's a whole of nation.
Speaker 1: Effort and there are a lot of companies who are
Speaker 1: able and willing to step up to the plate.
Speaker 5: I guess what you're saying is, if it's not going
Speaker 5: to be SpaceX, there will be a company that can
Speaker 5: fill that role. Do you have a timeline of how
Speaker 5: long this project can take.
Speaker 1: Well, I would say there have to be a number
Speaker 1: of companies, whether it's SpaceX or others, who need to
Speaker 1: contribute to this project.
Speaker 4: The scope of it is so large that it really.
Speaker 1: Is going to take a number of companies delivering these
Speaker 1: different capabilities. As far as the timeline we are looking at,
Speaker 1: the President has announced that it should be on a
Speaker 1: three year timeline, So that's looking for capabilities that are
Speaker 1: out there, that are fairly mature, that are tried and
Speaker 1: true and existing.
Speaker 4: So that's what it'll depend on.
Speaker 2: These numbers again and bigger and bigger. Looking forward to
Speaker 2: tracking this story with you once again. The Space Foundation
Speaker 2: CEO had the pringo that on the size of the
Speaker 2: space economy, I.
Speaker 4: Love the space of main discussions.
Speaker 3: I've got to say, I love the idea of what
Speaker 3: can happen there, whether we're all entering sort of the
Speaker 3: Obi wan Kenobi Yoda worlds. I mean, honestly, I mean
Speaker 3: all of the science fiction coming to reality and how
Speaker 3: that is a serious threat when it comes to international warfare.
Speaker 2: When you talk about a bum market