The Financial of Space: Discussing the financial side of the aerospace industry with Financial Lead Oran Siripongpreda.
An Interview with mu Space Financial Lead Oran Siripongpreda.
The financial side of any business is a challenge, however imagine being pioneers of an industry in your own country? That comes with more challenges. This is why, in this edition of mu Space Sit Downs, we speak with Oran Siripongpreda, the Financial Lead of mu Space Corp, a satellite manufacturer based in Thailand. We discuss the financial side of the aerospace industry, his vision of the industry’s growth and future goals for mu Space.
1.
What are some of the challenges of working in the aerospace industry as the lead of mu Space’s finance team?
The challenges in this industry are very unique due to lack of competitors within the country. Therefore, we must study cases from abroad, such as the United States, and anticipate the possibilities of adapting them for use in Thailand, ensuring accurate predictions. We must be aware of and understand new technologies that companies are researching and developing, and use data to assist mu Space in planning to maximize the utility of this research. We must study market conditions to identify customer groups because the customers who will use mu Space services will be groups with specific needs, such as OneWeb satellite internet users.
2.
What are some key differences between the world of finance in other businesses compared to the aerospace industry?
The significant difference is that the Space Industry is still very new in Thailand, resulting in limited financial support from both the government and the private sector. This is because of its perception as being a far-fetched business. However, this industry has already been proven by SpaceX to be an interesting business that creates jobs, and new businesses. Additionally, it also generates profits for investors. We can get involved in the Space Industry by manufacturing satellite components, providing transportation services, conducting research and development of satellite equipment, and assembling satellite components.
3.
What are some future goals of mu Space from a financial standpoint?
mu Space aims to manage its operations to maximize benefits for investors, focusing on providing value in terms of new technological knowledge, business opportunities, and long-term returns. The company plans to enter the securities market in the future.
The company desires to establish a space supply chain for the space economy in Thailand, aiming to increase the proportion of the country's GDP attributed to the space industry and create a new S-curve for the nation.
4.
What are some key collaborations and projects mu Space has in the works?
mu Space has strategic partnerships with companies both domestic and international across various industries, including construction contractors, LEO-operators, satellite component providers, battery distributors, aerospace, and defense companies. These partners assist in accessing customers and opportunities for project contracts, thereby creating long-term revenue streams for the company. These collaborators include, CP Foods, ispace, One Web, among others.
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