Trillion-dollar question for NMs future in space

BY BRYCE KENNEDY

What if early tech giants had dismissed the internet as a fad? Or if Britain had decided the Industrial Revolution wasn’t worth the investment? These weren’t just missed opportunities – they were existential choices that determined which societies would thrive and which would fade into irrelevance. Today, New Mexico faces that same stark choice. Space isn’t just the next frontier – it’s an entirely new domain of commerce that will dwarf everything that came before it. The question isn’t whether this transformation is coming. It’s whether we’ll be leading it, or watching from the sidelines as our economic future slips away.

The first infinite domain of commerce

Some refer to space as the ‘final frontier.’ But the reality is that it’s much more than that: It’s the first, truly infinite domain of commerce that by 2035 is projected to become a $1.8 trillion market opportunity. This will not only redefine every major industry but create new ones as well.

In order for industries to tap into this market potential, it’s critical to expand our definition of space. We’re not talking about the Hollywood version. Nor are we talking about moon landings or government- funded missions. Space is where the next generation of economic giants will be born. Microgravity research is reshaping biotech, unlocking new medicines and agricultural breakthroughs. Hypersonic technology is poised to revolutionize global trade. Satellites are redefining cybersecurity, climate solutions, and disaster management.

Every industry—from green energy to quantum computing—has a stake in this new domain. And yet, many of our leaders view space as a singular industry run by DOD, billionaires, and NASA. That mindset is outdated, and, frankly, dangerous. Space stakeholders are no longer limited to aerospace companies and government agencies. New Mexico companies that have traditionally focused on terrestrial technologies, such as RS21 (data analytics) and mPower Technology (solar panels), are now exploring how their innovations can be adapted for space applications—or, in some cases, have pivoted to the space sector completely. Citizen science organizations, such as STEMArts Lab, aim to inspire the next generation in STEM through creative, space-related programming. Even cultural institutions like Chaco Canyon are becoming part of the space conversation with night sky initiatives that illuminate our connection to the cosmos. Diverse sectors are finding their place in the evolving space ecosystem. If New Mexico fails to shift its mindset and get behind this, we’ll watch other states and nations cash in while we’re left behind.

New Mexico: Poised to lead, at risk of losing

New Mexico has an edge of which most states can only dream. From prehistoric observatories to the first rocket propulsion systems, its history is rooted in astronomical advancements and scientific breakthroughs. Its infrastructure is defined by leading research institutions.

Its landscape inspires bold ideas. Its culture fosters creative solutions. It has the potential to lead innovations in space exploration in a unique and unprecedented way, but this won’t happen without a vision, without a strategy, and without support.

The problem? The state’s current nine-sector economic strategy—while logical when only the sky’s the limit— is missing the unique opportunity to declare to the world that space is rapidly becoming the connective tissue linking these industries. Biosciences, cybersecurity, energy, and agriculture, among many others, all have massive stakes in space-related innovation. Yet without clear alignment and investment, New Mexico is leaving one of its strongest competitive advantages on the table.

Strategy and speed matter. If we don’t make space a top priority now, we’ll lose our competitive advantage. The clock is running out. States with no significant relationship to space are already taking action on this potential. Maine—yes, Maine—is carving out a niche in small launch capabilities with the Brunswick Landing tech hub, proving that you don’t need a massive aerospace legacy to make a mark in the industry. And then there’s North Dakota—perhaps the most unexpected player—investing in space infrastructure and research through its Grand Sky aviation park, aiming to be a leader in satellite communications and unmanned aerial systems. They’re not just competing; they’re positioning themselves for dominance.

New Mexico has the raw materials for a thriving space economy, but without strategic alignment and decisive action, we risk losing our edge to all of these other states. Meanwhile, our immediate neighbors in Texas and Arizona continue to charge ahead with dedicated Space Commissions and major investments.

Texas has put nearly $500 million into its space strategy in the last 18 months alone. And New Mexico? We’re still debating the merits of the $220 million invested in Spaceport America almost 20 years ago. Between the facility itself and its immense restricted airspace, as well as its proximity to other national research and testing facilities, Spaceport America remains one of the most underutilized assets in the state. Instead of fully leveraging its potential as a commercial launch hub, we’ve let bureaucracy and underfunding hold it back while other states forge ahead in an attempt to merely copy what we had the vision to build two decades earlier. At this rate, however, they may actually overtake us.

The state’s potential to dominate the space economy is unparalleled, but potential means nothing without action. Here’s the hard truth: if we don’t fund, support, and build a comprehensive strategy for space, our industries will fall behind, our talent will leave, and our economy will stagnate.

We need investment in space infrastructure, incentives for cross-industry collaboration, and a clear message: space isn’t just for rockets. It’s for farmers optimizing crops with satellite data. It’s for cybersecurity firms protecting operations. It’s for biotech companies discovering the next medical breakthroughs. And much, much more.

And the cost of inaction? It won’t just be measured in lost dollars. It will be measured in jobs, innovation, and the role we’ll play – or won’t – in shaping the 21st-century economy. History will remember the decisions we make now.

And the difference between failure and success is timid complacency or bold leadership. The only critical question is, which one will we choose?

Bryce Kennedy is Executive Director at The SpaceValley Foundation, a group that seeks to expand and promote the space industry in New Mexico. See more at https://www.linkedin.com/in/ brycekennedy/