Space Industry Seen Facing Delayed Econ Crisis
Government customers and long-lead planning has protected the global space industry from the worst effects of the ongoing economic crisis, but industry and government representatives at the International Astronautical Congress here worry there may be a downturn in a few years as those same government customers begin paying off the debt they incurred stimulating an economic recovery.
Francois Auque, CEO of EADS Astrium, told conferees that his company increased its work force by 9 percent last year, and expects to add another 4 percent in 2009 despite economic conditions that have forced the world’s governments to borrow heavily to generate stimulus packages to keep more traditional industries afloat….
But that could change as the economy recovers and governments begin to balance their books again, according to many members of a panel that included both industry executives from Europe and Asia, and representatives of the government agencies that buy space products.
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