Russia’s space withdrawal may create room for US space firms
• SpaceX, Sierra Space, and Boeing could benefit from the withdrawal of Russian space industry
Russia is responding to the West’s sanctions by cutting itself from the global space industry, making room for American companies to take over.
An analyst report published by Quilty Analytics, boutique research, and investment firm focused on space businesses said that as Russia retaliates and withdraws its launch services for American and European organizations, U.S. companies stand to benefit, with several satellites now looking for rides to orbit.
The research firm’s founder, Chris Quilty, told CNBC that Elon Musk’s SpaceX is “the clear winner” in the launch marketplace.
The industry briefing explained the expanse of the Russian and Ukrainian space industry. “Both are powerhouses of rocket and propulsion expertise, supplying launch services and engine systems to customers the world over,” it said.
Also read: Russian troops attack Ukraine nuclear plant as crisis accelerates
Among the various space equipment that Russia has withdrawn, the Soyuz rocket’s withdrawal has created a void.
Soyuz has benefited significantly from Western demand for launches, with international civil customers accounting for 51% of Soyuz missions since 2000, reported CNBC. The loss of Western customers is going to create a black hole in Soyuz’s books.
Also read: Jeff Bezos’ Blue Origin to build more rockets for space tourism, says CEO
Picture Credits: Roscosmos
Inputs from CNBC
