On December 3, 2024, leaders from industry, government, and academia gathered at the Embassy of France in Washington, D.C., for Connected DMV's "The Summit: The Commercialization of Space – Building a Next-Generation Industry." The event provided a dynamic platform to explore the immense opportunities and challenges of space commercialization and to position the Greater Washington region as a hub for innovation in this rapidly expanding field.
Opening the summit, George Thomas, President and CEO of Connected DMV, framed the event as a rallying cry for collaboration. “We stand at the threshold of a new frontier, one where partnerships across sectors and nations will not only drive innovation but also build a thriving space economy,” he said. The day's discussions would prove to reinforce that vision.
Exploring a Transformative Era
The space sector is undergoing a profound transformation. Once dominated by government-led initiatives, the commercial space economy is emerging as a major driver of growth and innovation. Ninety-five percent of today’s space industry revenue comes from “space-for-earth” activities, such as GPS, internet infrastructure, and weather prediction. However, as A.C. Charania, NASA’s Chief Technologist, noted in his keynote address, advances in technology are creating new opportunities in “space-for-space” activities, including space-based infrastructure, research, and exploration.
Charania highlighted the dramatic reduction in payload costs achieved by private companies like SpaceX, which has brought costs down from $60,000 per kilogram in the 1980s to as low as $150 today. “Lowering the cost to access space is not just a technical feat; it’s the key to unlocking economic and scientific opportunities that were unimaginable a decade ago,” he said.
Charania’s address set the tone for the day, emphasizing how technology and policy must align to make space exploration more accessible and economically viable.
A Regional Hub for Global Leadership
Victor Hoskins, President and CEO of the Fairfax County Economic Development Authority, spoke passionately about the Greater Washington region’s potential to lead in the global space economy. “The DMV is home to the most concentrated ecosystem of federal space agencies, leading aerospace companies, and world-class universities,” Hoskins said. “This is where the next generation of space innovation can thrive.”
Hoskins highlighted the region’s existing strengths, including institutions like NASA Goddard, NOAA, and Lockheed Martin, as well as its proximity to federal policymakers and international embassies. These assets, he argued, make the DMV a natural launchpad for the commercial space industry.
Connected DMV is building on these strengths with plans to launch a Commercialization of Space initiative. The effort seeks to replicate the successful model of the Potomac Quantum Innovation Center by fostering collaboration between academia, research institutions, industry, and international partners.
A Dialogue Across Borders and Disciplines
The summit brought together an impressive lineup of speakers, including John Serafini, CEO of HawkEye 360, and Preston Dunlap, CEO of Arkenstone Ventures, who engaged in a fireside chat on the intersection of technology, investment, and national security. Serafini, whose company leads in space-based radio frequency analytics, noted, “Space is not just a domain for exploration—it’s a critical enabler of actionable insights for Earth.”
Preston Dunlap added that innovation requires breaking down traditional silos. “To innovate in space, we need to think beyond silos—this is about bridging investment, technology, and policy to create a sustainable future,” he said.
The importance of international collaboration was underscored by Nicolas Maubert, Space Counselor and CNES Representative at the Embassy of France. “Space knows no borders,” Maubert said. “Collaboration between countries is not just beneficial—it’s essential for building a sustainable and equitable space economy.”
Workshops and the Path Forward
Interactive workshops encouraged attendees to dive deeper into the complexities of the industry. A visioning workshop explored market viability and sub-sector opportunities, while a second session tackled barriers, risks, and actionable solutions. These discussions underscored the importance of addressing challenges head-on to unlock the industry’s full potential.
Hoskins summed up the spirit of these sessions: “We must think not just about the opportunities but also the barriers that hold us back. By addressing these head-on, we pave the way for a sustainable and inclusive space economy.”
Closing with a Vision
As the summit concluded, the energy in the room was palpable. Attendees left inspired by the conversations and connections, with many expressing optimism about the region’s ability to lead in space commercialization. “This summit was not the end of a conversation—it’s the beginning of a movement,” Thomas said in his closing remarks. “Together, we will build a space economy that benefits everyone.”
Connected DMV’s proposed Commercialization of Space initiative will formalize this momentum, aiming to position Greater Washington as a global leader in the field. With its combination of vision, expertise, and resources, the region is poised to play a pivotal role in shaping the future of space exploration and commercialization.
Explore the presentation deck and photos from the Summit below.
