Colloquium: Issues and Challenges in Economics of the Space Economy

Abstract:
The presentation introduces the specific inherent issues of space economics. This research direction combines two main elements: the economics of the space economy and the economics of space exploration. While the former aligns well with the broader research agenda on critical ICT, big science, and defense infrastructure, the latter is unique in both subject matter and effectiveness. Recent developments have necessitated a reassessment of the roles of public and private actors, as well as a reconsideration of established legal frameworks that have traditionally denied private entities independent roles in in-space activities. We identify the critical elements driving systematic development today, including the increasing securitization of space (leading to a trend toward the ‘renationalization’ of markets and assets), the growing significance of multifaceted sustainability, and a fundamental shift toward expanded in-space business—marked by a rising share of supply chain processes being physically implemented in outer space.