Beal Aerospace Closes Its Doors
Less than a month after restructuring its rocket program, Andrew Beal, founder and CEO of Beal Aerospace Technologies Inc., stopped production and called it a day for his low-cost rocket.
Beal finally surrendered to his worst fear: Having to compete with government subsidized launcher programs (SBN, Nov. 10, 1999). “No one can compete with an endeavor subsidized by the U.S. government,” he said.
A demonstration launch of the company’s rocket would have occurred in the second quarter of 2002 and Beal had hoped to enter the commercial market shortly thereafter.