Economy Could Dampen Growth of Space Industry

Economy could dampen growth of space industry
Source: Space News
Published: May 26, 2022
 
Broader economic issues as well as the performance of some space companies could slow the growth of the industry in the next few years, executives warn. During a panel discussion at the Space Tech Expo May 25, Lars Hoffman, senior vice president of global launch services at Rocket Lab, warned that the industry is not immune from broader economic issues like supply chain disruptions, inflation and growing concerns about a recession. “We’re seeing right now a bit of a chilling going on within the industry,” he said. “This heating up of the market that we saw in the last couple of years when times were a little bit better, COVID excepted, is starting to level off a little bit.”