Israel's next communications satellite could be ready to be launched into orbit within two years, an official with the Israeli aerospace industry said Sunday, in the wake of the destruction of the Amos-6 communications satellite in an explosion during a static test fire last Thursday. The satellite, built by Israel Aerospace Industries and operated by Israeli company Spacecom, was destroyed when an explosion engulfed the Falcon 9 SpaceX rocket on which it was mounted during a routine test at Cape Canaveral Airbase in Florida. Amos-6 was scheduled to be launched into space on Sept. 3. "The regrettable and traumatic loss of Amos-6 must serve as a warning sign for decision-makers," Israel Aerospace Industries CEO Joseph Weiss said Sunday. He warned that without government subsidies, IAI would be unable to continue developing communication satellites. "We can't subsidize this field independently. Communication satellites are one of Israel's strategic capabilities, and the state must devise a multi-year plan to manage this field," he said. Weiss also said that a new satellite could be ready within two years, and the actual timeframe would depend on its configuration. "If we are told to build a communication satellite similar to Amos-6, then it could be done in two years' time. With considerable effort, even earlier," he said. To continue developing satellite technology and infrastructure, IAI would need an additional budget of $40 million to $50 million a year, he said. Science, Technology and Space Minister Ofir Akunis summoned the heads of Israel's aerospace industry for an emergency meeting Sunday to discuss the Florida incident. At the meeting Akunis noted that his ministry's main goal at this time is "to formulate aerospace policy, including state aid, to maintain the Israeli aerospace industries' significant technological advantage. Israel's space industry is, and will continue to be, outstanding. We will make sure it becomes stronger and maintains its edge." The aerospace industry executives at the meeting said they were facing fierce competition from the world's major aerospace companies, and therefore require the government's help to maintain Israel's competitive edge in the field. The Knesset's Science and Technology Committee is scheduled to convene next week to discuss the loss of the satellite and its implications for the Israeli space industry.