It鈥檚 hard to make things work in space, and even harder to make money there.

With a long history in the space industry and a pocketful of healthy companies, Canadians are good at both. But industry executives and experts say the country needs a booster to maintain an advantage in a sector poised to, well, skyrocket.

鈥淲e have a lot more experience having companies that make their way in space than a lot of countries do,鈥� said Iain Christie, a longtime space executive and analyst.

鈥�(But) we鈥檙e still dining out on work that was done 20 years ago.鈥�

Until about a decade ago, space was a place for government programs and large militaries. The costs were too high for other players.

But factors including miniaturization and the availability of off-the-shelf technology have drastically cut those costs. So has the entry of private launch companies.

In 2000, putting a satellite into orbit cost $25,000 per kilogram. Now, depending on which rocket carries the load, it could be as little as $4,000.

鈥淭he cost of technology and the cost of launch decreased,鈥� said Christie.

That created opportunity.

In 2011, Stephane Germain realized that increasing concern about greenhouse gas emissions was going to create demand to measure them, which can best be done from space.Today, his company GHGSat has six satellites in orbit, with another four planned over the next year. They鈥檙e able to measure gases such as methane with unprecedented resolution for both emitting companies and investors wanting to quantify their risk.

鈥淢iniaturization got to the point where you could do something useful with a very small satellite,鈥� Germain said. 鈥淲e were looking for that opportunity (and) that wound up being GHG emissions.鈥�

That鈥檚 one side of the space economy. Another is building infrastructure.

In November, Canadensys Aerospace Corporation announced it would build a lunar rover for NASA鈥檚 next moon mission. Weeks before, MDA Ltd., which also operates satellites, announced the second sale of their Canadarm technology to a company building a private space station.

The importance of those sales goes well beyond their dollar value, said MDA CEO Mike Greenley. They put Canada where the puck is going.

鈥淭here are opportunities to invest in lunar infrastructure,鈥� Greenley said 鈥� communications networks, electric vehicles, even space-based mining.

鈥淭here are a combination of new areas.鈥�

Canada鈥檚 long history in space 鈥� it was the third country to launch a satellite 鈥� has also given it recognized expertise in techniques including synthetic aperture radar, which allows satellites to peer through clouds or at night with amazing accuracy.

It all adds up to an industry worth about $5.5 billion a year that employs about 23,000 highly trained Canadians, according to the Canadian Space Agency鈥檚 most recent report.

But that鈥檚 only a small piece of the global pie.

The European research agency Euroconsult pegged the entire value of the space economy 鈥� launch rockets, satellite communications and Earth observation 鈥� at about $500 billion in 2021. By 2030, Euroconsult says it will reach $860 billion.

If Canada wants a slice, it will have to sharpen its knife, said Ryan Anderson of the Canadian Space Society, a grassroots organization promoting space and space education.

鈥淐anada has lost its step in terms of market share,鈥� he said. 鈥淲e鈥檙e a victim of our own success.鈥�

While the country鈥檚 space economy is good at generating promising startups, not enough of them find the wherewithal to grow, said Anderson. That鈥檚 the fault of both government and the investment community, he said.

鈥淐anada鈥檚 not as ballsy or risky as some other investment pools,鈥� said Anderson.

Greenley agrees.

鈥淐anada鈥檚 starting to drift behind a bit.鈥�

Greenley said that when the International Space Station was the big game in town, there were five space agencies involved. Now, he said, there are 21 countries taking part in NASA鈥檚 Artemis program to the moon.

He quotes the Euroconsult report that concludes Canada鈥檚 share of the global space budget is half what it used to be.

鈥淎 lot of countries want in,鈥� he said. 鈥淲e need to keep pace with the rest of the world.鈥�

Countries such as the United States and the United Kingdom have a high-level body to ensure the interests of the space economy remain in the forefront. Many in the Canadian industry say this country needs the same.

鈥淪omeone has to be bringing the importance of space to senior decision-makers in Ottawa,鈥� Greenley said. 鈥淯ltimately, it鈥檚 a business environment but government does have a role.鈥�

Christie said the federal government needs to be much more consistently interested in space. Canada needs to move beyond funding individual projects and develop an overall plan for the industry.

鈥淭he federal government does not invest as much in space industry as they get in return,鈥� he said. 鈥淐anadian support for space is well down in the middle of the pack.鈥�

After all, he said, there鈥檚 a tradition to defend. Canada has been leading the way in space for decades.

鈥淲e should spend a lot more time on a position that is hard-won.鈥�

Bob Weber, The Canadian Press

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