Commercial space business on fast track

As space travel picks up steam, the commercial space business is evolving rapidly, according to Virgin Galactic's chief. "The changing roles of national space agencies and the rapid maturation of technology have opened the door for a number of new players to have an immediate impact on the industry," said George Whitesides, President of Virgin Galactic, who is due to address a panel at the Global Aerospace Summit to be held in Abu Dhabi on April 16 and 17. The summit will comprise global industry leaders across the aerospace, aviation and space sectors aiming to promote cross industry thought leadership. Abu Dhabi investment company, Aabar, and Richard Branson's Virgin Group in 2009 announced a strategic partnership under which Aabar paid $280 million (Dh1.028 billion) for a 31.8 per cent stake in Virgin Galactic's holding company. Aabar then boosted its stake in Virgin Galactic 37.8 per cent in October 2011. "As companies like Virgin Galactic demonstrate the ability to successfully complete missions and deliver returns to investors like Aabar, this sector is sure to become even more exciting and high profile," Whitesides told Gulf News in a statement. H e added that as commercial companies dramatically increase the frequency with which they can access space, and the number of people who are able to personally experience space flight, "we are headed for a renaissance of the space industry's ability to have a profound impact on the world. "Space exploration is an extremely demanding task, and it can't be accomplished safely without some highly talented people using the best tools available," he added. From gulfnews