Space industrialization (or commercialization) has the potential to be a major player in America's space program. If this potential is to be realized, however, industrialization efforts must be considered within the context of the other major portions of the space program: shuttle, space station, and civil remote sensing. Further, development efforts must be based upon a sound scientific and technical understanding of the products and processes, and there must be a trained cadre of dedicated individuals willing to devote time and effort to this effort. There remain considerable risks and uncertainties. Given all this, the best path to follow would seem to be a long term, balanced commitment, emphasizing government, industry, and academia partnerships. Several points are addressed: (1) the place of space industrialization in the overall national space program; (2) the meaning of space industrialization with respect to the historic, national aims of space; and (3) specifically what is being industrialized.