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. In fact, on August 29th, 2022, Maritime Launch announced that the company has satisfied the conditions related to the approval and construction of the only dedicated planned commercial launch Spaceport in North America. In short, the countdown for a potential $1.4 trillion space boom is already counting down.
Look at Maritime Launch Services Inc. (NEO: MAXQ) (OTCQB: MAXQF), For Example
Maritime Launch Services Inc., owner and operator of Canada’s first commercial spaceport, Spaceport Nova Scotia, is pleased to announce the appointment of Sylvain Laporte to the Board of Directors. A former President of the Canadian Space Agency, Mr. Laporte is a sectoral leader who has advanced Canada’s involvement in space through the launch of scientific and earth observation satellites, planetary exploration missions and the continued human presence on the International Space Station with Canadian astronauts.
“Over the last year, Maritime Launch has met a number of key milestones and I am thrilled to join the Board at this critical stage in their development”, says Sylvain Laporte. “With over 38 years of experience, I have spent a significant portion of my career dedicated to advancing and championing the growth of the Canadian aerospace sector. I am looking forward to using my leadership experience to propel Maritime Launch to the next level.”
Mr. Laporte has served as CEO of the Canadian Intellectual Property Office. He has held senior positions within Industry Canada as the Chief Informatics Officer and the Executive Director of the Integrated Technologies Office. Laporte has served 20 years in the military as an aerospace engineer with the Royal Canadian Air Force.
“Sylvain’s leadership in space has fundamentally changed the trajectory of Canada’s competitive success in the sector” said Sasha Jacob, Chair, Board of Directors. “With senior leadership roles in the public and private sectors, Sylvain has developed innovative aerospace programs resulting in meaningful socio-economic benefits for Canadians. I look forward to adding his voice, energy and perspective to our board table”.
Throughout Laporte’s career, he has been focused on creating innovation and leading change management in the space, defence, aeronautical, supply chain management and information technology sectors.
“I have known Sylvain for a number of years and since our very first meeting, I’ve been impressed by Sylvain’s commitment to bring the many benefits of space to earth” said Stephen Matier, President and CEO of Maritime Launch. “Not only do Sylvain and I share the same passion for developing young talent in the Canadian space industry, we also believe that now is the time to take the next step into what is a very competitive space race, and launch technology into orbit that will change life for the better”.
During Laporte’s tenure as President of the Canadian Space Agency, he played a key leadership role in securing investments of $2.5B for Canada’s space program. The funds are used to accelerate innovation, to grow the Canadian space industry and the economy, to create the jobs of the future and to inspire Canadians.
Other related developments from around the markets include:
Tesla Inc. reported that, “In the second quarter, we produced over 258,000 vehicles and delivered over 254,000 vehicles, despite ongoing supply chain challenges and factory shutdowns beyond our control.”
Amazon announced Amazon Catalytic Capital, a new initiative to invest $150 million in venture capital (VC) funds, accelerators, incubators, and venture studios that provide funding to entrepreneurs from underrepresented backgrounds, primarily at the pre-seed/seed stage of venture capital funding. The company will invest in funds that focus on Black, Latino, Indigenous, women, and LGBTQIA+ founders. Amazon expects to support more than 10 funds and over 200 companies through the next year.
Virgin Galactic, an aerospace and space travel company, announced it secured land to move forward with a new astronaut campus and training facility in the State of New Mexico, near the Company’s commercial operations headquarters. The land, located in Sierra County, will be home to a new, first of its kind astronaut campus, for exclusive use by Virgin Galactic Future Astronauts and up to three of their guests in advance of a spaceflight from Spaceport America. The master plan for the campus will include training facilities, purposeful accommodations, and tailored experiences as well as an observatory, wellness center, recreation activities, and unique dining options — all underpinned by Virgin’s signature hospitality.
Maxar Technologies, provider of comprehensive space solutions and secure, precise, geospatial intelligence, announced it has been awarded an Option Year 3 contract renewal by the U.S. National Geospatial-Intelligence Agency (NGA) for the Global Enhanced GEOINT Delivery (G-EGD) program. The contract, which began September 1, 2022, is valued at $44 million. This is the third of three option years for the contract, which has a total value of up to $176M.
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