Executive director u. S. Junior of calm moores face policy and commerce. Good morning, and welcome to the u. S. Chamber of commerce, and to launch, the space economy, our Second Annual space summit, events such as this are a team effort, and we deeply appreciate the support of our sponsors, huawei, northern, rock allow, juan weir hawkeye threesixty, and assent, we have been busy over the past year, and policy discussions, ranging from management inc. Commercial aviation is face launch airspace small satellite in, corruption and your british durance, to commercial opportunities, supporting future gateway, leaving convened a roundtable, to comment on the u. S. Coast guard, regarding the need for greater use of space surveillance in the arctic waterways, suffice to, say the chambers procurement, in space agency council, isnt ever walk expanding set a policy pursuits, fortunately we have an enthusiastic space industry ceo here at the chamber, after last years summit is, where there was an article written that sums up the chambers approach to the entire sector, from which i will, quote he wrote, pardoning the economic potential space will be no easy feat, it took hundreds of years to creates an efficient and well regulated maritime system, and nearly a century for aviation, but he added, there are both vital parts of the Global Economy and space, increasingly, is as well, indeed he wrote, space is the new economic frontier, the public and private sector, is much work, together as partners, and pioneers, to leverage is fast potential for humankind, and quote, what im not sure that it can be said any better what, before i introduce the ceo of the u. S. Chamber, we have a brief video, that i think you will like. If we could roll that now. What greetings from the International Space station, i nasa astronaut christina koch, on behalf of the expeditions, 61, crew we would like to welcome the attendees, of the 2019 space, summit aboard are magnificent laboratory, we are appreciative of the u. S. Chambers support, and commitment, to enabling commercial partnerships, and Strategic Investments especially in the space industry, as we fly 255 miles above, you we are making great progress on a number of experiments, for, example examining how microgravity can improve the health of people on, work we can expand this trying to get, to you as we approach to 28 continuous year of humans living, and working aboard the space station, while we couldnt join you in person, and we are happy to join you today from, orbit and wish you all productive, space summit. Well and with, that tom donahue, ceo of the u. S. Chamber of commerce. Well in a few minutes im going to go out to the airport, and on a horizontal basis, going to fly about 250 miles, its unbelievable, today, that you just store a quick video, from space, where people were telling me but you aint seen nothing yeah that, so im glad youre all here where, thanks to all the folks on the space station for tuning in with us for a few minutes, its great for us to see so much commercial work underway, on the International Space station, truly a jewel crown, of the Cutting Edge Research, youre going to see, as we go forward, and also like to thank all of you, who are joining us, today whether as the speaker, or panelists, a participant, whatever youre, doing its just great to have you here again, when we just make one observation, i went through all of the program this morning, on the way here, and i was really taken back, by the extraordinary number off, and quality of, speakers, that were going to have today, if you just look carefully, at that whole agenda, of whos going to be here, there is no question, that we are on our way to space, in a huge way, when this years summit, is appropriately titled, launch, the space economy, the name perfectly describes, where the industry is headed, in recent years, we witnessed the sea, change in commercial space, we are officially moved beyond the countdown to the point of lift off, think of, this today theyre less than 2000 active satellites in orbit, last year alone the fcc licensed over 13,000 satellites in low earth orbit, spaces the most promising industry, to arise since the birth of the tech sector, and Companies Large and, small want a piece of the action, thats why in the coming, years roads will continue to skyrocket, the u. S. Chamber projects, that commercial space, will be at least 1. 5, trillion dollar industry by 2040 and if there are stimulus from competing operations, that will happen faster, in a competitive way, and a much more vigorous investment, if that, doesnt give you a pause then you ate paying attention the future of our economy is being built right before your eyes, and it is polarized to opened everything, that came before, commercial space, will transform how all societies across the globe learn, learn communicate, thrive and, grow, and thats only using, space hundreds, of miles above us, if you, just think back, from the last six months, the things weve learned, the things weve read, the thing once weve seen what were finding, new black holes, extraordinary deeper into space and the next space its unbelievable, and i want to say again, what you are watching, at what we are working on, is only the beginning, as soon as we get one, place we are going on further, commercial, space, is something, that stimulates the mind and has a great potential, to fundamentally change our education system. All civilizations throughout history look to the heavens and they wonder and they prayed, now we have the chance to reach up and grasp those dreams and the opportunities are endless. Space isnt an empty void, but it is the landscape of near infinite opportunities. The materials and Energy Resources that are scarce here on earth are everywhere in our solar system. Lunar colonies, astronaut mining, and interplanetary travel, once the stuff of Science Fiction could soon become reality. But for that to happen, we need sensible Public Policies that will force through the innovation and investment and growth necessary for continued commercial expansion into space. Thats where the chamber comes in in our small way. Were working with all the private and Public Sector stakeholders to chart the course towards a mature commercial space, Regulatory Regime. Thats the reason we brought you all here today. Its you, our nations business leaders, policy experts and government officials who are laying the groundwork for a new age in Space Exploration. Were eager to hear from both government and industry this morning, as you Work Together to build a National Space policy that will help us lead the world into the next economic frontier. The future of our economy depends upon a vigorous pursuit of industry beyond earth and with the right combination of private investment and Public Policy, our potential for growth, like space itself, has no limits. So lets learn from each other today. Lets boldly venture into the beyond and lets go there together and thanks to all of you, again, for joining us and for making this a very, very important event the next step to space. Thank you very much. music music music music music music music music music music please welcome jim chilton, senior vicepresident , space and launch, boeing defense, space and security at the boeing company. And neil bradley executive vicepresident and chief policy officer, the u. S. Chamber of commerce. Good morning. Well, jim, thanks for joining us this morning and helping us kick off our Second Annual space summit and our launch program. I wonder if we could stop top line and tell us a little about boeings history in the Space Exploration and Space Program, which i know is frankly a lot richer than i personal appreciated and many in our audience appreciate and how youre thinking about your priorities today. Good morning. Well, jim, thanks for joining us this morning and helping us kick off our Second Annual space summit and our launch program. I wonder if we could start at the top line and tell us a little about boeings history in the Space Exploration and Space Program, which i know is frankly a lot richer than i personal appreciated and many in our audience appreciate and how youre thinking about your priorities today. Okay, well, one priority is to thank the chamber and all the people here, you and thomas, a great event and i know its a great start last year, so, thank you for that. From a history of legacy perspective, a lot of people dont know, but boeing goes back a good 60 years in human space flight and about the same in satellites to include commercial satellites, so if you look at the legacy companies, we were part of mercury and gemini, apollo built on both ends of the rocket, built devices, the lunar rovers were boeing products coming out against washington. I know thats a long time ago, but it makes our work force very proud and there are technical papers on Lessons Learned there and keep the work force engaged and interested. And look, i think the first commercial satellite rolled out of the factory and in california, sin com one in 1962, maybe, i might be off a year there and since then the satellites were off an auto plant. Theres a great legacy there. If you look for recently, we have the privilege of serving nasa on the Space Program and those are a marvel if you havent gotten to a museum to see one of them. Im biased because i got to work the program during my work and life and those things enabled the great observatory and the International Space station that theyre familiar with. And the partner nations, ill call it, conquered low earth orbit. Maybe we didnt conquer, but learned a lot about it and the kids dont know a time when humans havent lived continuously in space. Theres a new generation coming and from our work force standpoint. They were very relevant. And the Lessons Learned for our star liner project are huge, and i would argue nasas space station and the International Partner stations, that is the human Space Program for our country and a lot of the world today and we just keep learning so the ability to learn how the human race system and environments and kind of the crew ops and training and how fast you might have to move, in an unexpected event, thats just fantastic for our work force. So, i wanted to start with the history because as i mentioned back stage, i was home in oklahoma with my family and we went to the tulsa air and space museum and some of those companies that are now part of the boeing corporation, where some of those products that you just talked about were built in it you will is an and some of the volunteer docents at the museum were the ones who sent design the payload doors, for example, on the Shuttle Program and its amazingwell, not amazing, its remarkable the pride in which they take, and the work they did in having been a part of putting americans into space and our space dominance at the time and how they translate that, even to my nineyearold son in terms of what they can be a part of. And so, i think sometimes we skip so quickly to the present that we forget about how were building on that kind of legacy, that rightfully people who you and people who preceded you have deserved pride in what youve accomplished. Thanks for bringing that together and thanks for what boeing does in particular to help educate younger americans who follow your footsteps. I know one of the ways that you all help inspire folks and one of your colleagues with us last year is Chris Ferguson and for those of you who are here and joined us, you know that chris was a nasa astronauts and been in space and hes currently no longer with nasa, but training to go back to space and preparing to go back to space in a couple of years as part of Boeings Starliner program. Tell us a little about how you bring together the expertise of someone like chris has and his history in nasa and kind of the public side of Space Exploration and the expertise that you all have in the private sector side and how that marriage works and what kind of opportunities that creates as we think about how the u. S. Returns to human space flight. Well, yeah, thats a great perspective. I hadnt thought about the public internal part of it. Ill start by saying, were working in the commercial crew program and ours is called a starliner and proud of it and were going to flywere counting down the days now not months and weeks. How many days . Were looking at the 19th. We have the range over the weekend. We were on the 17th and we asked for the 19th and they may have positioned that by now, but thats what we prefer. We had something come up over the weekend on the purge was a little off we told the team get it how you need to get it. Number one, we call it the commercial crew program, but right now were serving nasa and i need to thank nasa. Because a lot of what we are able to do we learned from nasa and we have techniques and approaches and doing it with much less nasa direct involvement than weve had in the past. So having chris on the team is immensely valuable. You bring him into the team and put a boeing badge on him and firstoff, he has an effect on all of us. You know, we all know these are very brave americans and these are also really smart people so he has a great ability to lead other people. And he has maybe too much ability to say i could probably handle that risk, but his participation in those design trades and how are we actually going to operate this vehicle has been invaluable and we think that that is needed inside the tent. And no way of saying that the nasa astronauts are not able to participate in that way and its been really good for us and pretty cool for chris to see how things work behind the curtain. Publicly, we kind of have a deal with chris, we never want to be in position where hes not entirely comfortable to include our schedule and our timelines and our test protocols and it has a good effect on both of us and it gives him to fairly represent the nasa in the quarters hes uniquely able to do and ill close at that question by saying that if youre an engineer entering the work force or a technician that wants to build something just right and youre off trying to work with other nations and individuals who may want to buy a commercial ride on this. The ability to go out and get the question and say, hey, what do you think about this or that, im and last time i had lunch with him the day before and i talked in with naive questions for someone who is the know in your line of work and his ability to walk through some of those things is a credit both to him, but also, i think, to what hes learning with this kind of advent of how we go back into space. Right . Let me describe it as a composite. So never one, physics carrying peoples hefted his base, protecting them and bring it home safely really has a change. Were not going to walk away from what weve learned. I dont think anybody needs to hear more on that. That fundamental doesnt change. The Business Model is very different and what we try to do with the machines after we fly with nasas very different. When i say its a composite, hes a hardnosed test pilot and with some pretty tough chief engineers who will build that thing right. At the same time we know from our commercial airplane business and other commercial ventures, the optics of how you sell it and how you might arrange the seats and be able to reconfigure them, thats all much different, how we might be able to sell them, wed found in the future. Thats a lot of fun for the tape as well but its got to be thought through carefully. Thats i want to go further. The Current Administration has a renewed focus on Space Exploration returning american and american vehicles into space. You are also thinking the on that pic youre thinking about it from the commercial side of it. Talk a little bit about the same way we combine the best of Chris Ferguson with the best of boeing. How do you marry up the administrations vision for what it wants to do in terms of Space Exploration and understanding thats got to take place over multiple congresses and multiple administrations with what boeing wants to do in terms of planning out a commercial enterprise. How do those things fit together . Other opportunities presented . Are there conflicts . Theres the potential for conflict. The first answer is its a great opportunity. I want to remind everybody nasa has a policy objective in addition to taking americans to space, and others from u. S. Soil, which is job one, full stop. They also want to stimulate an ecosystem. We want commercial companies to succeed so that whether we work for nasa, to some extent we have their policy blessing to try to use them for customers other than nasa. You see them to export things with the International Space station and firemen to try to help us do that. There could be a conflict, hypothetically a customer and want to fly the same time nasa does. What weve express is there very open about its okay if you want to try to do that, just you know what harm to what were doing. I think nasa is enabling that much more than they are is this the Lesson Learned from going all the way back to kennedys challenge to put man on the moon, that the government is leading a providing some incentives and not just funding but the commercial spinoff and opportunities that are created by that National Commitment may be were not anticipated at the time and were not planned for but turned out to be very real, and now we understand there are going to be those type of commercial spinoffs and opportunities and a part of the planning. Is that whats happened over the last 50 or 60 . Ill back up. For apollo a used a very large, historic by kurdistani the propulsion of the since then with maybe 10 of that annual with done Amazing Things. The big lesson in those Amazing Things is be ready for something you didnt expect, some opportunity will arise and in our economy that set works so you want to scar your system to go to great things. You want to partner with people who look at the world differently. Were trying to see if we could become an aerial photos businesses. Businesses. Absolutely the government is an anchor customer. It would be hard to get in this business if you didnt have a certain customer that knew this to me and could tolerate the risk. Its hard to predict a schedule. We struggled a little bit with the schedule and i think Everybody Knows that. You have to do it systematically. Its absolutely an effective policy from my perspective and we wouldnt have a chance to do the other thinks were going to try to do without that first part. The first nasa by we think about the secondary and third and fourth iteration, and to your point we dont know exactly what those are going to look like. We know to expect the unexpected but from a business standpoint you have to plan and that some type of insight as to what you think the commercial opportunities are. Obviously here at the chamber this conference or conference a year ago we talk a lot about the commercialization of space. We throw out big numbers about what the opportunities are, right . That involved a little bit of science and a little bit of art, right . You all have to do much more heavily from a business perspective on the sides of it. Tell us your perspective in terms of how you see the future commercial opportunities of space, and are we right to really talk about a new space age and commercialization of space . I think we are right. I think its hard, yet the number one thing that gives the optimism is the quantity of new entrants and players. A lot of people consensus in this economy now. You can make a pro and con argument. I would say i would segment the mark meadows markets for you. Use small launchers and big launchers and lots of them, historically there hasnt been room for as many as we see. So the question will be as we get more and more efficient, with the elasticity happen . If you drop prices we get more demand . That experience is underway. Any prediction . Launch is something nationstates are not going to give up. So theres some set of worldwide launchers they can be commercial. Theres a subset that people are going to in the country so they dont lose the ability to do it. At a think theres a finite amount of people who can survive in the commercial market and we are seeing great competition. We are in it. We are super proud of her partnership and the people that people get in the last 20 years it was annually get rockets to work overtime . Theres a a company that is proven you can. If you could do it and get the price down the question becomes do you stimulate demand . I question goes to satellites first. The commercial satellite business has historically been a geobased business, probably no one here needs a reminder thats been a tough business the last two years work order seven death and were seeing a proliferation of nongeoconstellations and that will have implications for launch big and small. And moving away from broadcast to Network Provision is, we have to set the place up. Some of those folks will start competing with horizons and orange and get landing rights for countries. Its exciting but it wont be easy. But again unintended are originally uncontemplated opportunities. And finally human spaceflight, if we can crack open more people go to space for not exclusively are most exclusively government people, thats got to be big. What kind of doors does that open . You hear about the idea theres a lot of research that goes on International Space station but you hear of a lot of opportunities to do Cutting Edge Research that can only be done in space or would of benefits if done in space. Is that what the third Market Element of nongovernmental human spaceflight unlocks . Its one of them. As great as robotics have advanced and computers are mighty handy and they discover a number of things that maybe you would discover or notice so i think thats true. Much has been made about manufactured in space. Thats possible but were discovering things, you can more quickly find vaccines for things, salmonella discovered on the station is a prominent example. Theres a segment of the market which is tourism. Is that going to be a growing speedy i dont know. Congratulations to them, they are ready to start service. Short subpart of rides. We aspire to provide orbital rights. How deep that market is and what long term and private could, exist is not sure youre were in. Going to try. Is at another area of our price elasticity and demand we dont know exactly where those are going to be on the curb . Im not sure. You know, im not sure to the point with early adopters. Would you like to go and why . And ashes after some people go are a lot more people going to go . A lot of folks in this room would like to go. I think all of us in this room would like to have the resources to be able to be one of those early adopters, and so we are thinking about how were interested in our capsule was designed for nasa but you can have fifth cedar or cargo for anybody who wants to fill that fifth seat just shoot me an email. Whats the going rate for that . Its high. Exactly. A Monthly Payment system, just like at the car lot. A Monthly Payment system, this is on the havent heard yet. Yet. You have mentioned a couple of times, and im really curious your perspective on this. Obviously the number of commercial players has multiplied, and that we dont know whether supplies going to exceed demand or demand is going to rise to meet supply or how that is going to play out. You all are obviously, this began the conversation, a longterm player in this space. And perhaps more than many of the other folks who are peers and competitors in some sense today, you have a long time horizon from which to look back from. Give us your perspective on the current marketplace and the dynamics of that kind of competitive element that i would argue may be relatively new in terms of how we think about the commercial Space Services side. Thats the thats the great observation, doesnt talk about legacy in our pride and parts we worked on. The future is different. So number one our view is its going to happen. Toms comments about the large economy, i will not tell you how large the economy will be. Theres a lot of utility and excitement around going to space so we believe in that the economy. Number two, its not good happen in the traditional Business Models that we can look back and say, you could watch our behavior a little bit or commercial crews is a completely different Business Model than space station which is different than the institution model for space launch system. If you look at our military satellite line that a lot of cross flow between commercial and military technology. We set a lot of fixed price to the military so theres a flavor of commercial there. So number one weve got to be agile and Business Model. You cant confuse the technology and the difficulty of the physics draw you in. You cant get excited about that and get drawn into the wrong Business Model. In what way . Ill pick launch. People are very excited and this is a personal observation, people are very excited to get in the launch business. I think someone like the chamber studied the earth more small set launchers that small satellite companies. You wonder if that is a mismatch. You look and say from where you are, how many rounds would get to get through and if all of you were to succeed is that much money out there . See what i mean . You have to pick your spots and predict which Business Model is going to work. They are all capable of flying. Your business, and theres harsh is his decision, right . Is this a little bit like the romanticism, if i could put it this way, of being involved in space and having a program that can take people and things and launch them, is that where you begin to flow bit of breakdown with the hardnosed, profit and loss, what the market demands . Is there a limit of that going on . I think theres a lot of that going on. Our cfo who looks at me as a 35 year space nerd. He says jim, theres no blood left in your koolaid to stream. Because obviously a space enthusiast and so i talked with different Business Models. Thats going to be as important as the technology as more people are able to do with it the ability of technology and you get into a sustainable business. Without revealing too much about your thinking at boeing, if launch is one of those areas where everybody is getting in, everyone has their way of doing it, when you said around, you personally think about this, thats the area where in 20 years i said i wish i want to be involved at because the old ice hockey adage, you skate to where the puck is going, not where it is. Where is the puck going and would you like to see people skating to . In launch specifically . Know, beyond launch. Specifically beyond launch. I think the prize, i will say the prize were all what you arrive at the puck, weve had humans live containers in space. We are going on 20th and we dont want a gap in that. Im boldly, we dont want in the u. S. And we dont want worldwide. We have to go get this economy going. We have to go get that the government says ive shown the world how to do it and now its to the commercial sector to go get this done for the world, we have to go do our we will have that gap. So when you think about that gap, we know the age of the young National Space station. We know there are things with great engineering and ingenuity we could do for prolonged time. You cant prolong an asset indefinitely. When do you think about that gap and faith gosh, i hope we are prepared as a nation to be at that point where we can fill that gap . Ten years . 15 years . How do you think about that time horizon . I think you got the time horizon about right, ten, 15. Ill use government examples. If you look at our congress looks like they will go extend space station for 2030. Not a technical reason you couldnt do that. If you look at the european budgets budget that come out right about now, you look like theyre going to be there for the long term. Then you say how long should it go . It could go, i think its decreased but right now a lot of the conversation is wednesday station to what a deal with the airlock from which they dispense the satellites, we did that. Of course we take a payment whenever the launch is something but a lot of this is false like that going on. The mass challenge incubator where paying people to bring experience up. I think theres a lot of speakers talk about the incubator and the experiments and of that is evolved and we see that . I will start with nasa policy. They are clearly allowing at as long as it does no harm to the stationed there allowing us to try to build businesses out there. Prominent examples of small businesses. We are trying to stimulate some. Its a little like our horizon x ventures are. People may not know boeing has a venture arm called horizon x were we take shares of companies both fake baby the ones that will survive long Company Might have some technology we think would make visible in our company but we can help it be born in another company. I see the station as an incubator like that. You are seeing things being tried and we will discover sustainable businesses. When you think about those sustainable businesses, when we plan for the gap that you talked about, do you think that were going to avoid that gap we will of what the gap i want to come back to the things we need to do to help avoid that in one moment, but do you think that everyone is thinking about, when we close that gap, when we avoid that gap, with talk of something that succeeds the International Space station and hopefully something that talks about and furthers the type of innovation like that Incubator Program you just talked about. Do you think that is a common view of what the next stage of man living in space looks like . Do your competitors . Does the government . Do Public Policymakers share that view of the future . Im going to be bold and say yes, but not in the same architecture. I think writ large people agree we like to see lowearth orbit commercialized a little easier to get to. Its a place where we can do some business of people imagine hotels and commercial labs at a think of the countries talk about building their own space stations there. I think everybody imagine some form of proliferation in lowearth orbit. The Artemis Program is just nothing but exciting. We have an administrator who is out there rallying deep space exhalation program on a scale with his room for everybody. So you think about lowearth orbit, its commerce job to go populate that. The government will go meet with like the railroads in the west. There will be some devices that help us go to deeper space than the moon and mars and beyond. You will have lowearth orbit. How you do it, a lot of competition, a lot of some architectures are only for the people describing it. Some architectures are very open. We want to see a lot of players so we can be institutionally independent. I think its great. I dont know how it will end up but it is exciting come into your point about having leaders express that excitement, one of the things the chamber we are proud to work with boeing on as well was our other members is laying that Public Policy groundwork. Talked a little bit about how the government being an important buyer and incubator of these things but they also lay out a lot of the vision in a way that brings together the commercial side. I mentioned the air and space museum. Its not a coincidence that jim bridenstine, before he was nasa administrator, before he was a member of congress, was the executive director of that error and space museum. And you see his passion when you talk to him about it. But like all administrations theres a finite time, at the time horizon that we talked about in terms of full avoiding the gap is going to exceed any, exceed the next administration whoever that is in the next administrative and probably the next administered after that. So what can we do as an susie is, as advocates, as boosters for the kind of exciting future of to maintain that level of enthusiasm so that we maintain this level of commitment and support to make sure we avoid they get gap and get the future that you talk about . Do you have any advice for us entered the one we can can do in that regard . Number one, i do have a little strong interest in this. Number one, when you do look at artemis, larger space ecosystem that is merging and a special artemis as something we all have to pull together and try to make happen. We alter self linking of different ways and we want to do well at our Company Wants to do well but we have to advance it. We all have to support each other. I cant see my colleague rick, if easier but i would like to congratulate Lockheed Martin for dancing their orion to test because theyre building a deep space machine and shes going to go to the kate after this test. The round of applause for those guys. I know that sounds odd but the point was, the thing im trying, im 35 dash by never seen a time in human spaceflight were everybody was waiting for everybody else. Im not sure thats really happening everywhere right now. What would try to do is commit and say lets all be mutually consoled supported. As you mention were all going to have to stay committed to it through good times and bad. Thats how the station has lived so long and thats how the shuttle flew. Its different than going to the soap have to be sustainable. Number two, we must have a new generation of talent seeing themselves in this. The museums, the work we do to make sure that early career people get a lot of access to people like Chris Ferguson, and those of you in the room, many people in the room, we all must invest time in that because they are the artemis generation. If were not going of the human gap, they are going to carry the torch. Whats left for me is able to pass on a few lessons. Its exciting to carry that george as youre doing but also exciting excited to build a pass off and know the future is bright. Thanks for taking the time and sharing with us all a bit about not just what boeing is doing with the perspective on the overall architecture, thanks for sharing your enthusiasm. Thats whats most exciting is this isnt just a brief moment in time. This is a moment in time that is going to define future history. Its pretty exciting to be a part of and im privileged you took the time to share with us today your thoughts about. Thank you and thank you for doing this. I think youll find the same enthusiasm all over the audience. You are at the front of something very big. You ought to grasp it. Join me in thanking jim for spending time with us. music music music music music and now eric graham, lord hoffman, Global Launch Services at rocket labs usa, brigadier general, associate administrator for commercial space transportation, federal aviation administration. John serafini, chief executive officer at hawkeye 360. And doctor kerry buckley, Vice President of air force programs, said for programs and technology, the miter corporation. music music music good morning. Good morning. Its great to be with all of you. The topic for our panel this point is the evolving regulatory needs for commercial space and lowearth orbit operations. Thank you all for being with me. I think we all know that the future base led operations will be shaped by the increased demand of the volume and diversity of commercial space. We also know that this is a Global Challenge and it really calls for the safe and responsible behavior of the International Community as well as capability in areas such as space domain awareness, spacecraft management, and continued innovation. We also know when he to account for challenges in National Security while at the same time enabling growth in the commercial sector and promoting standards for safe launch in space at the International Community. To do this its going to take whole of government approach as well as continued collaboration between government and industry. We are very fortunate that our federal agencies are looking to focus on those regulatory processes to help streamline the activities and the regulations that we need to do that. We are going to have a great panel this morning. Lets discuss this meaty topic. You were some of the names but let me go through and do some introductions again for a quickly. To right of me i have John Serafini again the chief executive officer with hawkeye 360. Brigadier general witches told me that he had made three promises to himself when he retired. Was it two days ago this time last year . One was not to work in government again. One was not to live in the washington metropolitan area again, and you can see how successful he has been at that, so thank you for joining us. We also have senior Vice President of Global Launch Services and eric graham who has been in his role for just three months as director of regular affairs at one web. Again thank you for joining me. Lets jump in. We have a little bit of time together. My first question im going to give you general, and he did just walk us through some of the regulatory approaches that youre taking, intent to streamline launch licensing a payload permitting. What are some of the key points of contention in that area, and how are you working to balance those considerations . First off it was great to get space policy directed number to two directing us to streamline our regular construct to combine four different rules into one. Number one, he is moving from a prescriptive approach, what we tell you what to do and how to solve problems to a performancebased approach which will unleash innovation while still maintaining Public Safety, and also being able to do a single license for multiple launches from multiple locations, which is just one of the ways that we are looking to help us keep up with if not stay head of this tremendous increase in both cadence and complexity in this industry. We have to have as light a regulatory touch as possible to enable this business. Good, thank you. Im going to turn it over to eric next to talk about one web and some of the ways that one web is looking to promote the sustainability of leo constellation in space, and how does the new constellation design, how does this change the nature of operations what are the concerns and how might raid tory reform help address the challenges . We heard already this morning that there are so many more satellites that were authorized within the last year at the fcc than what exists in space today and lowearth orbit. As you see these large constellations that are necessary to connect the entire world, stop for a minute and think we have wired communication for over a century without wireless terrestrial communication for decades now, and massive portions of earth, parts of the United States are still left uncovered. These leo constellations are the constellations that we will be able to connect those areas and connect to those people to the economy. Were talking billions on earth who are still not connected. So its necessary to have these large number of satellites in lowearth orbit, but its just as necessary to think about what happens to the satellites once theyre up there. If you think about succeeding 99 of the time and thats pretty good, but when you talk a thousands of satellites, thats a large number of dead satellites. 1 failure is a large number of dead satellites that are up there. Unlike terrestrial collisions which can be swept up, gravity is helping us out, all it takes is a broom at a big dustpan you can clean up anything, when you get to space its not that easy and that impact has a ripple effect, Chain Reaction of potential particles that cant be tracked but they can destroy future satellites or they can puncture the space station, for instance. So we have to think about what happens to the satellites after endoflife. You have to have certainty that the satellites will deal with in a proper way and one web is focus on in space is how we make our satellites capable being retrieved, should something go wrong. That technology is not quite there right now but active debris removal in space is something that we look at. So responsible space is a major theme for us. We launched a website responsible dot space that brings together all principles that guide us as we design a salad. So make sure their operational on earth before you put them into space. And as we follow our deployment plan, launches starting next year. Can you talk to us all a bit about some of, the challenges that you see from kind of that International Perspective and the way that some of the other players in space my challenge some of the things that you just described . Yes. There has to be International Cooperation around how we get the satellites into space and what happens to them once they are up there. The concern that we have as a satellite operator is countries getting hit of each other and going in different directions. You can only lead if everyone follows. If you lead and no one follows, then youre an outlier. The thing that hurts companies as we plan is always following the outlier, and what happens when there is not some sort of regulatory consistency. So International Bodies exist, they met in egypt last week to meet on spectrum, for instance, and thats a good example of a place where countries can step out from the group and make things more difficult for the operators. That puts at risk connectivity in that country. So john, im going to turn do you get we just heard about some regulatory uncertainty. We heard from general monteith about kind of the lightweight regulatory processes that we try to put in place, but tell me from kind of that Startup Community what are some of the uncertainties in the regulatory space right now. How did the impact startups in commercial space . The best way to think about from a fundraising perspective for starters, your companies, always your most paramount mission. As a Venture Capital investor in a in a startup operator, ive seen interesting paradigm shift which is more vcs are risk embracing as it relates to a lack of defined policy regime. Because there is less white space at the traditionally our new companies to be traded and in order for the next Great American company to take off, sometimes they have to be in the gray zone because the whole lot of competition. I would point towards uber, airbnb, companies that were established before the Regulatory Regime was established. Walk outside and see all these line scooters. There wasnt a Regulatory Regime outstanding for how those scooters should or shouldnt be in place within the streets but they did anyway. So for vcs looking for the next great thing, regular and certainty is not the sort of bad thing but there is an offset which is the regulatory uncertainty has to come down as the amount of capital goes up. The space ecosystem given the capital intensity, that means regulatory uncertainty early on was more dangerous. Dangerous point for a company like hawkeye raise over 100 million, or raise more, the apple to showcase to our investors at larger fundraising totals that the Regulatory Risk is reduced is very important. , can you share a little bit about avi at the a or are comes has been interacting with industry, especially startups . So as i mentioned earlier, its not only the increase in cadence but its complexity and its working with startups and tried to come up with are working to a regulatory construct that supports company data been doing this for decades, or they are launching almost every week the companies that will not launch for the next two to three years but have a very innovative plan to get to orbit. Its laying the foundation that does not stifle innovation, actually empowers innovation but also creates that regulatory certainty so that investors are encouraged to come into the market so that we can maintain Global Leadership and not lose out in the sector. And so whether its coming up with ways to, for instance, Safety Systems on board a rocket. You would think, just make sense, you have to have the ability to stop an errant rocket but what if youre launching from a place where the impact if something goes wrong is simply negligible . Do you still need a Safety System on board . No, and were trying to come up with a construct for that and then instead of carrying all that extra weight and the complexity on your rocket it is simple to design, simple to get orbit. You can carry more to orbit and you can get your license through quicker. When i look at what we do, its maintaining Public Safety and weve been doing this for 35 years and we have never suffered a fatality or injury to public, is keeping that Going Forward while allowing companies to innovate and go fast. Thank you. That was a great lead into some of things you and i been talking about. You shared you are moving the next launch i believe, is that right . This spring. So if you could talk to us a little bit about how the new footprint of launch activity both in u. S. And worldwide are evolving, and really for you what does drive the launch location by commercial providers . Like a mother a lot of thinks its driven by market demand. Our customers needs, operating out of new zealand where we launched nine times but were getting rid to open up in virginia. The reason it we have customers preferred to launch in your soil and we could reach a lot of the preferred orbit. We are thinking at a launch site location, market demand is going to be a big driver because you have a Business Case that closes. Your also driven by geography and geopolitical considerations. You want to make sure you in a spot that you can take offense if you get close to the equator, you want to make sure youre launching out over open space so if something does go wrong youre not endangering the public but you also want to be a stable location so youre not worried about whether or not you will be able to launch. The weather is a fact as well. All of these considerations. For us operating the first private large comp lex and new zealand has worked out perfectly. We can launch up to 120 times a year. With a Great Partnership from the faa in licensing our lunches and also payload licensing, and so there been a huge help to us in terms of i started getting up and running and ill be able to launch on a monthly cadence. We fed good cooperation from fcc and noaa as well for their licensing. Thats all worked out quite well. Now launching, where interacting more with other Government Agencies and of the partners that are launching from the same launch complex. You mentioned launching on a monthly cadence. Lets stress the system and take this more to a weekly basis, when you look across what the future may have in store for us. A question to maybe for each of you on the panel. So when you think about this increase in volume and this possibility of weekly launches, what would be needed both in the Space Operations and air operations of domain to make this successful . I open it up to the panel. Launch is launches that ethically are necessary for company like one web. We put a satellite factory in florida where we can produce to make of our satellite a day and we are launching 3036 satellites for launch to build the constellation as quickly as we need to. That just, that is just one ngas operator. You add a a couple more plus any other missions and weekly, weekly capable launches and not out of the realm of possibility. It becomes a necessity, in fact. So there has to be a way to coordinate that, away for the folks went of launch vehicles manage it and then of course once your satellites get up there thats where our people fly the satellites and other companies do the same thing and we have to coordinate up there as well. We are on a path to a launch a week. In 2020 its once once a month, probably twice a month. Its all driven by market demand but the market demand across government and commercial customers worldwide is rising steadily as we talked about earlier. The path that the spaced economy is leading us in this direction. Comparison was made to the maritime industry. If you look at the airline industry, same sort of growth pattern if you look at the pattern over the last few decades and were on the same path. When general monteith was running the 45th space wing and set them on a path to 48 largest and you the wasnt just one launch, multiple launch provides all launching from the same launch complex. The challenge was to the whole enterprise to be able to support that. For hawkeye the challenge or its the manufacturing capacity here in the trinity. American manufacturers of microsatellite buses is relatively paltry. Most of them are in r d type facilities, not many set up at skill, thickly with not only u. S. Operation but u. S. Ownership and principally u. S. Supply chain. That is difficult to find at scale. We need to encourage about and set policy to allow that manufacturing facility here in the u. S. To flourish. Thank you. When we look across, what these companies are trying to do, again we have to have the right register a construct. My office has to be agile, responsive and fast here we can do that. In the last seven years our license activity is increased about 1000 . We see theres a potential for that to happen again over the next five years, and so 2012 in my office we had essentially 25 people do a single license. Now im down to less than three. We cant keep that cadence up and listen to a couple things. Number one is higher good new folks so were always looking to hyper if you know somebody out there whos in this biz visit wants to come be a regulator, which is exceptionally exciting. But weve got increased but it cant increase the size of my office by 1000 so its got to get more efficient more effective at that. The streamlined rules we talked about, thats going to be one part. Its also reorganizing our office. Back in april secretary chao announced we would restructure the office of commercial space transportation. Im happy to announce steve dixon, my boss, who you will hear from later today just approved that realization last night. That will allow us to be more responsive to industry as we move forward. Now, with that cadence the other issue is getting into the air space, the on ramp or getting through. I look at it like it on on a freeway. It got to be able to safely get there. We have to move and we are moving from segregation and second airspace to integrating one of the things we did this year is removed responsibility for integrating space transportation into the National Airspace system from our office to air traffic organization. They own the requirements, the priorities, the funding. They will get this done. Does nobody better in the world at airspace integration than them. Because even though the impact right now with the commercial space Transportation Industry is relatively small, its going to increase. On the other side, one general aviation aircraft can stop the launch with a Single Person on board. We have to be able to use this limited airspace effectively. The faa is committed to doing that. Great, thank you. Lets take that out a little bit further. As the surface that the space Traffic Management evolves and loses to commerce, what will be some of the significant changes and what should the commercial players hope to gain as this moves out the more of the dod domain into the commerce domain . I can start that. Im going to sound like a broken record. Safety. As a shift to commerce and out of the duty realm and still have all those exquisite sense of providing data, first and foremost the foundation has three safety. Without some kind of safety construct, there is no commerce. There are some who suggest were at the beginning of debris creating more debris and creating an overreaching so we can no longer use. We have to be sensitive to that. And without that we have no ability to take event of this trillion dollar economy. Whether its getting to the airspace over or whether functioning once you are on orbit, folks quite frankly have to play well. You have to be sensitive about the debris that you leave. You have to be sensitive about moving out of another piece or another satellites orbital path. I was in the organization in the air force when that was a bad day. Fortunately we havent seen any more of those but its out there. Its going to happen at some point. Let me hear from the kind of commercial player perspective on what your needs are and what you are expecting from this to me or tour in five and we are entering into. If you want to evolve into a period where we are launching almost like airline taking off and landing at major airports, and integrate into nash is basis we transit through, then we have to adopt to the rules of the road. In ways we can do that is regulatory and also technology. One of the evolutions that is happening right now is the move from a command or we rely on systems and humans loop to an autonomous flight Safety System or termination which is on board that provides a lot of benefits. Its a safer model in which to operate. Were going to be launching using autonomous flight termination on upcoming launch and thats our standard or the government has come up and said this is so important, so good that we want to set that as a standard for everybody to