- Astra CEO Chris Kemp said the space industry will enable new technologies on Earth.
- Kemp compared the growing industry to the internet boom in the '90s.
Astra CEO Chris Kemp said the space industry is on the verge of becoming as ubiquitous as the internet.
"Space will be the next big platform," Kemp told Insider in an interview at the World Economic Forum in Davos, Switzerland. "There is a tremendous amount of opportunity to solve problems here on Earth in space," he added.
Kemp, who cofounded the aerospace company in 2016, highlighted several practical uses for space technology, like satellites, including tracking anything from water levels and energy to weather on Earth.
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In December, $4 found that there are over 10,000 private space tech companies collectively valued at over $4 trillion in the world. Earlier this month, $4 the space industry should reach $1 trillion in annual revenue by 2040.
Space exploration isn't just about $4 or putting $4. Tech entrepreneurs like
"The thing about Astra is we are a space tech company, we aren't a space travel company,
Astra is breaking into the satellite launch market and competing for contracts with companies building broadband
But as interest in space continues to grow, Kemp said it cannot go unregulated, pointing to laws like the $4 which have gone decades without scrutiny. The CEO said satellite data could quickly raise ethical concerns or issues related to national security.
Over the past few years, the number of satellites that have been launched into Earth's lower orbit (LEO) have skyrocketed. In 2021, there were over 7,000 satellites in LEO, according to the United Nation's $4
And the number is expected to grow exponentially in coming years. SpaceX has said it plans to create a megaconstellation of over $4 Starlink satellites. NASA and astronomers have expressed concern over the growing number of satellites.
In February, the federal agency $4 the satellites could increase the potential for collisions in outer space and potentially interfere with future NASA missions. Astronomers have said the satellites could $4.
"We are trying to find this balance," Kemp said, speaking of regulations. "It could be chaos, but with the appropriate level of governance we could have a global network of networks that connects every single billions devices on the planet."
"We have to create an economy that in order to participate you have to conform to the norms and somebody has to find the norms," Kemp added.