The US Commerce Department announced Thursday it is easing restrictions on exports of space-related technology, answering a yearslong call from space companies to reform regulations governing international trade.

This is the most significant update to space-related export regulations in a decade and opens more opportunities for US companies to sell their satellite hardware abroad.

“We are very excited about this rollout," a senior Commerce official said during a background call with reporters. "It’s been a long time coming, and I think it’s going to be very meaningful for our national security and foreign policy interests and certainly facilitate secure trade with our partners."

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