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Hundreds of millions of dollars are now flowing to an industry long viewed as too risky for serious investment. New start-ups are blossoming in an explosion reminiscent of the early days of tech, when money poured into Silicon Valley start-ups at the beginning of the Internet age. Gen. John “Jay” Raymond, the chief of space operations for the U.S. Space Force, even predicted during a recent speech that investment in the commercial space sector would drive “a second Golden Age of space.”

That has helped drive a $447 billion global space economy that grew 4.4 percent last year, according to the Space Foundation, an advocacy group. Over the past 10 years, the space economy has grown 55 percent, according to the Foundation, which said the commercial space products and services market is valued at $219 billion.