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Space industry Under Existential Duress

The boss and top executive at the Department of Air Force Acquisition Will Roper recently expressed his concern over the effect of the coronavirus pandemic in the space exploration industry. In his opinion, Will stated that the coronavirus pandemic might bring certainly expected company failures in the space race. While the industry seeks s for ways to cope with this pandemic, some of the most creative start-ups in the space industry will be effected through reverse investment. Roper further acknowledges that the Pentagon has rules in place that will ensure the designated measures will take place. However, to mitigate COVID-19’s effect on suppliers, there is a need to further look into the matter. However, not all space and aerospace firms working together with the air force are vulnerable. He added that some, if not many, are incredibly fragile due to their exposure to decreasing competition in commercial sectors.

Roper further stated on 16 April, in the middle of a business video broadcast with the media, that the time is coming for the authorities to take a brave measure and balance specific markets.

As the economies are now dwindling, Roper believes that the time has come for audacious government intervention.

In certain instances, Roper advocated for the additional insertion investment of industrial cash sources should the businesses stash dry up entirely.

He also stated that it is the mandate of the air force and the congress to actively pursue aerospace retention regulations if the industry is supposed to survive this onslaught.   

While speaking for experts in the industry, Roper alluded to the fact that there is a cautionary yet skeptical side which many might not see. He states that returning the industry from rock bottom will be a more cumbersome task compared to cushioning it now from the economic effects of the virus

Parts of the economy, including the orbital constellation ventures in low-Earth orbits and tiny rockets, are new markets that may encounter unknown possibilities, added Roper.

He further added that the industry is seeing buyers on a shift towards a profoundly conservative mindset compared to past instances. However, the ball is in the government’s hands for upcoming decisions. Roper adds that the industry can only watch to await the directives from the government and what will be done

However, Roper remains hopeful that despite the challenges the sector faces, it will emerge better and more reliable while being more capable of handling such scenarios in the future.