The release of images from the Canadian and U.S. joint operation that shot down an unidentified flying object (UFO) over Alaska last year has reignited interest and speculation about the event. While these images were declassified shortly after the incident in February 2023, they were withheld from the public until recently. Canadian officials explained that they delayed the release of these photos to avoid further confusion or the generation of more questions. Ironically, the images, once released, have done exactly that—they’ve sparked even more questions than before.
For example, what happened to the wreckage? Why do the images appear so grainy and indistinct, as if taken from outdated equipment? And perhaps the biggest question of all: why, in today’s highly technological world, are these the best images we could obtain?
As with many things related to UFOs, the mysteries seem to multiply. One striking comparison people have made is between the UFO imagery and designs from the sci-fi movie Prometheus. Whether intentional or not, the visual similarities between the two are hard to ignore.
But beyond the images, this incident opens a broader discussion about how we deal with unidentified objects in our skies and space. With more objects being launched into space every day—from satellites to space debris—it’s inevitable that similar encounters will happen more frequently. This brings into question whether sending expensive military jets, like the F-22 Raptor, equipped with less-than-ideal cameras, is the best method to investigate such incidents.
While the UFO incident is fascinating, it also sheds light on a growing issue that humanity must confront: the increasing amount of objects in Earth’s orbit. Thousands of satellites, debris from past missions, and other objects are crowding space, leading to a higher risk of collisions or accidents. This problem isn’t going away, and it raises the question: what companies or technologies can help us track and manage this growing congestion?
One such company that has come into focus is BlackSky (ticker: BKSY), a small but innovative geospatial firm. BlackSky specializes in real-time satellite imagery, providing visuals of any spot on Earth within 90 minutes. This capability is especially valuable for military operations, but the market for such services is niche, which has made it difficult for BlackSky to perform well financially since going public in 2021.
However, despite its challenges, BlackSky could be uniquely positioned to benefit from the increased need for monitoring space objects. In March of this year, the company secured a multi-million-dollar contract with the U.S. Department of Defense (DoD) to track objects in space in real time. The technology BlackSky uses allows them to monitor objects from high Earth orbit and can capture up to 15 images of a single site per day.
To put their capabilities into perspective, earlier this year, BlackSky captured an image of the International Space Station from 85 kilometers away, demonstrating their remarkable satellite imaging technology. While this type of geospatial intelligence may seem highly specialized, its importance is growing in a world where space debris and satellite congestion are becoming critical issues for both governments and private companies.
This brings us back to BlackSky’s potential. The company is currently in a unique position due to the increasing need for space object monitoring, particularly as more objects enter low and mid-Earth orbit. If BlackSky can continue to improve its technology and secure more contracts like the one with the DoD, it could become a major player in the satellite and space monitoring industry.
That said, BlackSky’s financial situation has been rocky. The company’s stock has struggled, partly because of the niche nature of its market and partly because of a recent $40 million share offering that diluted the value of its stock. Its market capitalization now stands at just $75 million, a far cry from its earlier valuations. So, is BlackSky worth investing in, given the potential growth in the space monitoring industry? That remains an open question.
In the end, the takeaway from this entire situation is that with more objects being sent into space every day, companies like BlackSky are well-positioned to address this growing challenge. As space becomes more crowded, the demand for real-time satellite monitoring will likely increase, offering companies like BlackSky a chance to capitalize on this emerging market. For now, the company is worth keeping an eye on as they continue to develop their technology and expand their reach in this rapidly evolving industry.
Disclosure: The content is for informational purposes only; you should not construe any such information as investment, financial, or other advice. I have no business relationship with any company whose stock is mentioned in this article.