(MENAFN) At the FII forum in Miami, Brian Hook, the vice-chairman of Cerberus, expressed his belief that Saudi Arabia and the UAE are playing a critical role in the future of space exploration. Hook noted that these countries have greatly accelerated a new space race by putting their people and funding behind it, which has brought into existence a new space economy.
During the panel discussion, Hook and other industry experts examined the potential for development and investment in the space industry. They also discussed the breakthroughs and dynamics that make it appealing to the general public, investors, and enterprises. According to Hook, allowing the private sector into the market has gained fresh momentum, and the overall market value is expected to surpass $1 trillion in the coming years.
Furthermore, Helene Huby, the CEO of The Exploration Company, which wants affordable, sustainable, and open space exploration, highlighted the renaissance that has taken place in the space industry in recent years. With private equity and venture capital funding and enabling some of the most innovative companies for space exploration, there is a growing interest in making space exploration more accessible and sustainable. Saudi Arabia and the UAE's involvement in this field is expected to play a critical role in shaping the future of space exploration, as they continue to invest in this exciting industry.
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