Star-Struck Investors Return to Orbit

Star-Struck Investors Return to Orbit

The space-tech business is at a standstill until Elon Musk-backed SpaceX sorts out its awkward launch-pad explosion. In September, the private US company was forced to suspend rocket operations, pending completion of a public-private investigation. There is enormous pressure to resolve the matter. Washington needs the company, alongside a few others, to expand its space and military programs; the State of Florida is relying heavily on SpaceX to rebuild a gutted economy at Cape Canaveral; multinationals and foreign governments have few satellite-launch alternatives. The good news this week is that SpaceX should soon be back in the launch business. That milestone will reignite venture-capital flows into the overall space-tech sector, suggesting brisk developments in the industry over the year ahead.

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