Some Experts Say Flying Objects Shot Down by US Indicates "Growing Space Economy"

Multiple flying objects were recently shot down by the U.S. government.

It all started when a Chinese balloon was seen flying over the United States' airspace. Officials shared their concerns since the aerial vehicle could fly over sensitive military sites.

The flying object, which was owned by China, was taken down by the U.S. government. After that, numerous unknown aerial vehicles were also taken down.

While many people become concerned, some experts said that the appearance of these flying objects is a sign of the growing space economy.

Flying Objects Shot Down by US Gov Indicates Growing Space Economy

According to Business Insider's latest report, the U.S. government shot down three unidentified flying objects.

Unlike the Chinese space balloon, these aerial vehicles were not connected to the Chinese spy program, as reported by CNBC.

President Joe Biden said that these flying vehicles are likely linked to private companies, research organizations, or recreation institutions.

Statements of many experts are also supporting the idea of Biden, especially since there are around 90 countries involved in the global space industry.

Over 10,000 companies are also joining the ongoing space race. Experts stated that this just shows the space economy is further growing.

As investments from private companies and government corporations arrive, the space industry is expected to reach a value of $1 trillion by 2030.

There's a high chance that this could happen since the space economy already reached a $500 billion valuation in 2021.

Motives of the Flying Objects Still Unknown

Although most of the goals of many countries and aerospace companies are to explore outer space, the exact motives of the shot of flying objects are still unknown.

Since they are not really flying outside Earth, there's a chance that they are observing the planet. Because of this, Biden decided to establish a team to analyze those aerial vehicles.

One of the goals of this team is to contact companies that are producing weather balloons and other similar flying objects.

In other news, the NASA Mars challenge, which aims to create a virtual environment of the Red Planet, was launched.

We also reported that Intuitive Machines' SPAC raised less money than expected.

For more news updates about flying objects, always keep your tabs open here at TechTimes.