On-Orbit Satellite Servicing Standards Are a Necessity for the Private Space Industry
It is axiomatic that failure to regulate is de facto regulation. Without appropriate structure and predictability, it is difficult to build a new and innovative industry that requires significant private investment. Investors are skeptical of high-risk endeavors that lack consistent government oversight because (in addition to the commercial risks involved) government may react to events in unpredictable ways. The private space industry epitomizes these concerns, particularly with regard to market readiness for on-orbit satellite servicing.