JOURNAL ARTICLE
Canada Cuts Bureaucracy, Loans Cash to Bolster Its Space Firms.
Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3
Database: Business Source Ultimate 2 of 3
Authored By: Mulima, Monique 3 of 3
Abstract
Canada has recently taken steps to promote its domestic space industries by launching the Commercial Integration Cell and the National Space Council. These initiatives aim to increase collaboration between the government and the private sector, following the example set by the US. However, the clearance process has limited participation in the integration cell to a few companies. Despite not competing at the same level as the US or China, Canada hopes to make advancements through cooperation, particularly in the space between Earth and the moon. The global space economy is expected to grow significantly, and Canada ranks 13th in government space spending. The Canadian government has provided a significant loan to Telesat to build its Lightspeed network of low-Earth orbit satellites. While some Canadians believe the government is spending too much, Telesat argues that government backing is common in other countries. This loan is seen as a geopolitical decision to support Canadian space firms and create technology jobs. Companies like MDA and Telesat are focusing on low-Earth orbit due to its advantages over traditional geostationary satellites. The Canadian Space Agency and NASA are planning a moon expedition in 2026 to search for ice, and MDA is involved in the construction of the Starlab space station. Additionally, MDA's Canadarm3 will be part of NASA's Gateway, and CSA has funded research into moon and asteroid mining. Exploring the moon is seen as a crucial step towards further space exploration. [Extracted from the article]
Additional Information
- Source:Bloomberg.com. 2024/06, pN.PAG
- Document Type:Article
- Subject Area:History
- Publication Date:2024
- Accession Number:178145981
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