Astra CEO says space will be the next big platform as more satellites take orbit, but we need some regulations to avoid chaos

Chris Kemp said that the space industry is on the verge of being as ubiquitous as the internet.

Kemp told Insider that space will be the next big platform.

Kemp highlighted several uses for space technology, including tracking water levels and energy to weather on Earth.

Thousands of companies have entered the space travel sector as the US has become more privatized. The internet boom in the 90s was compared by the Astra CEO to the recent interest in the space industry.

There are over 10,000 private space tech companies that are collectively valued at over $4 trillion. According to Citigroup, the space industry should reach $1 trillion in revenue by the year 2040.

Space exploration is more than just colonizing Mars or putting boots on the Moon. Kemp sees the potential for space travel to be used for everyday commercial purposes, despite the fact that tech entrepreneurs like Musk and Bezos have presented space travel as a solution to climate change.

There are a lot of companies that are focused on rockets. We focus on space services that can be used by our customers.

Astra is trying to break into the satellite launch market and compete for contracts with companies that are building broadband satellite constellations. The first group of satellites were deployed in March after the first operational launch failed, according to Space.com.

The Outer Space Treaty of 1967, which went decades without scrutiny, is one of the laws that Kemp said cannot go unregulated. The CEO said that satellite data could raise ethical concerns.

Over the past few years, the number of satellites that have been launched into Earth's lower orbit has skyrocketed. There were over 7,000 satellites in the year 2021, according to the United Nation.

The number is expected to increase in the coming years. A megaconstellation of over 42,000 Starlink satellites is planned by the company. The growing number of satellites is a concern for NASA.

The federal agency said in February that the satellites could increase the potential for accidents in outer space. The satellites could have a negative impact on astronomy.

Kemp said that they were trying to find a balance between regulations and the proper level of governance.

In order to participate in the economy, you have to conform to the norm and someone has to find it.