Peter Beck

People buy satellites for the payload and what it does.

And you're never going to scale to a giant company if you just provide buses, and you really have to provide the end-to-end solution.

So, you know, you've seen us start to dip our toe into payloads now and, you know, electro-optical is kind of the first piece of that.

And, you know, if you think about, you know, how many providers in the world are there of these deeply complex electro-optical, you know, infrared kind of payloads, you can count them on one hand.

So, you know, being able to provide that payload to other people's spacecraft is one thing.

But when you turn up all of a sudden to a customer and you can provide the thing that they actually want to do, being the payload,

And by the way, all of the bus, all of the operation systems, all the ground segment, and we can launch it for you.

It's just a totally different proposition.

So, you know, you'll see us, you know, acquire more of those payload kind of elements, because I think that's kind of the last piece in the puzzle.

Yeah, so look, every nation is, and I would say there's been a recent kind of retrenchment in that, in the fact that nations have, with various world events, have decided that actually we need our own stuff.

And so there's definitely a, certainly a strong desire there.

We've always seen it a lot from launch because any kind of emerging space nation always wants their own rocket because it's just super cool and very, very visible.

So we've always been approached a lot with, can you come to our country and build a launch site?

And it's like, I don't want to build another launch site ever, so why would I do that?

But there's no strategic reason to do it other than a country wants a launch pad, but they have to service that launch pad and that demand with their own sovereign spacecraft, and maybe that will happen or maybe that won't.

But certainly, yes, we're definitely seeing a lot of sovereigns looking to create their own capability.

And to your point, the Monaric acquisition that hopefully we get through in Germany is, it's a fantastic product.

It's a laser terminal.

It's incredibly needed.

across our platforms and many others.