The news: Former NASA astronaut Drew Feustel, now chief astronaut at Vast, says the company is moving into a new era of commercial space operations—one where orbit becomes a place for production, not just exploration.

In an EMARKETER interview at Web Summit, Feustel explained that Vast’s upcoming Haven 1 station is designed to function as a true manufacturing platform in space, building on the decades of human-research groundwork laid by the International Space Station (ISS).

Feustel spent 23 years at NASA, serving on three spaceflights and as commander of the ISS. That experience gives him a rare vantage point on the next phase of human spaceflight. He sees Vast’s work as a natural extension of what the ISS started.

Vast intends to monetize by operating low Earth orbit space stations that host R&D and manufacturing payloads, provide habitation/service to crew or customers, and eventually capture the replacement market for the ISS along with commercial clients.

Why it matters: Efforts like Vast’s first orbital station aren’t just scientific milestones; they’re early moves in what could become one of the fastest-growing technology markets of the next decade.

• According to the Space Foundation, the global space economy reached $613 billion in 2024, with the commercial sector accounting for about 78% of the total.
• A McKinsey & Company report estimates the global space economy will grow to $1.8 trillion by 2035 (inflation‐adjusted), up from approximately $630 billion in 2023.