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Musk's SpaceX moves into spy game: A new era for defense contracting

Business Standard LogoBusiness Standard9h ago

Musk's SpaceX moves into spy game: A new era for defense contracting - Business Standard

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But the agency has just started the competition for the next stage of the system.“We are going to do this with hundreds and hundreds of satellites,” said Derek Tournear, director of the Space Development Agency, at a SatNews conference in California last week.“We’re going to get these new capabilities in the hands of the war fighter.

The Defense Department recognises the risks of relying too much on a single vendor.“The emergence of vendor lock, or dependence upon a sole vendor, has the potential to negate the strengths of the market by stifling innovation and inflating prices,” a Defense Science Board report issued this year on the commercial space industry concluded.“This can culminate in a de facto monopoly, cementing a stagnant and  anticompetitive paradigm.

He chafes at many of the processes of government, saying they hold back progress, and wants to make his own calls.“The complication is that you’re incredibly dependent on a company that is privately held, meaning we have very little visibility into their finances,” Todd Harrison, a former space industry executive who is now a senior fellow at the American Enterprise Institute, said.“And it is controlled by the richest man in the world, who has gotten heavily involved in the politics and heavily involved with some foreign leaders who are adversaries of the United States.


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Category: BusinessFinance

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News Sentiment: Negative

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Article Type: News Report

Published On: 2024-10-31 @ 21:29:46 (9 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 1642 words

Reading Time: 10 minutes read

Sentences: 47 lines

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Copyright Owner: © Business Standard

News ID: 23351521

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