Along with my colleagues from NASA and the Departments of Defense and Transportation, we at the Commerce Department are dedicated to achieving the goal of affordable, reliable access to space. I believe that the economic significance of commercial space to this country's future must not be underestimated.
Space is the next commercial frontier.
Therefore, reliable, affordable access to space is a fundamental prerequisite if we are to realize the full potential of that frontier. According to the Teal Group, the next 10 years will see the development and launch of almost 1,700 satellites worldwide, with commercial satellites contributing over 70 percent of this total. Roughly half of those revenues and jobs are in the United States. Today, virtually all of the demand for commercial launchers is driven by the telecommunications and broadcasting industry. That industry has witnessed a surge in proposed commercial satellite constellations designed to satisfy the growing global hunger for sophisticated information products and services.