Satellite Industry Association Pushing for Congressional Reauthorization of Ex-Im
The Satellite Industry Association is urging Congress to reauthorize the Export-Import Bank. Without it, "U.S. commercial satellite manufacturers are increasingly uncompetitive in a global marketplace where foreign buyers account for roughly 75 percent of all commercial satellite sales," said SIA…
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President Tom Stroup in a statement (here). According to SIA, since its virtual shutdown July 1, U.S. companies have seen at least three commercial satellite orders withdrawn and not been able to take part in a number of other competitions. "This is just the tip of the iceberg," Stroup said. "In the highly competitive commercial satellite manufacturing market, support from export credit agencies (ECAs) can be the difference between the winning proposal and a competitive one. And in some cases, ECA support is a required component of the proposal. The longer the Ex-Im Bank remains closed, the greater the damage will be to U.S. satellite manufacturers and the hundreds of local businesses that supply them."