Saudi Press Agency

Virgin Galactic

Virgin Galactic

Virgin Galactic

Virgin Galactic

On Thursday, the government of Saudi Arabia made a big splash in the aerospace community by announcing its intentions to invest $1 billion in Virgin Galactic and that company's efforts to develop a commercial tourism space plane and a small-satellite launcher. In addition, the Saudi Crown Prince Mohammed bin Salman Al-Saud also discussed creating a space-centric entertainment industry.

"The future of Saudi Arabia is one of innovation, as showcased at this week’s Future Investment Initiative, and it’s through partnerships with organizations like Virgin Group that we will make active contributions to those sectors and technologies that are driving progress on a global scale," the crown prince said in a statement.

The investment comes at a critical time for Virgin's space efforts, which include the VSS Unity space plane and the LauncherOne booster to send small satellites into orbit. The company's space subsidiaries are working to bring both of these vehicles into active service. The pressure is particularly acute for VSS Unity, the space plane designed to take passengers on suborbital flights, as Blue Origin may begin commercial service with its New Shepard vehicle as early as next year. New Shepard has already made a half-dozen unpiloted test flights into space.

Virgin founder Richard Branson said in a news release Thursday that both of Virgin's space efforts are close to operation and that the new funding will also aid future endeavors. "We are now just months away from Virgin Galactic going into space with people on board and Virgin Orbit going into orbit and placing satellites around the Earth," he said. "This investment will enable us to develop the next generation of satellite launches and accelerate our program for point to point supersonic space travel.”

Like with many space ventures, it is perhaps best to treat Branson's optimism with some skepticism. He has been saying the commercial tourism spaceship could be ready as far back as 2009. The program suffered a significant setback in 2014 with an in-flight accident that killed 39-year-old co-pilot Michael Alsbury and seriously injured 43-year-old pilot Peter Siebold. A new version of the spaceship, VSS Unity, has completed several "glide" tests in 2016 and 2017, but it has yet to undergo powered tests.

Human rights?

As part of Thursday's announcement, Branson highlighted his ongoing commitment to Western values. "We will remain majority shareholders, and our companies will remain firmly rooted in Virgin brand values and based in southern California and New Mexico," he said. "Their wish to invest in our space technology is positive progress of the larger societal transformation the Crown Prince seeks to bring to his country and citizens."

Thursday's announcement also raises the possibility of future launches from Saudi Arabia, as the country has an "option" for $480 million of future additional investment in space services. However, there are many regulatory hurdles that would have to be overcome before technology developed and manufactured in the United States would be launched from a foreign country.

Regardless, Virgin officials clearly regard such a large investment as a big win as they seek to push through the development curve and reach space. "So, I’m having a good week," tweeted Will Pomerantz, vice president of special projects for Virgin Orbit, the company dedicated to the LauncherOne satellite delivery service. "Can I just say how happy I am that Richard mentioned the imperative of women’s equality I think three times during his remarks here?"

Listing image by Virgin Galactic