A Comprehensive Overview of the Growing Global Space Economy: From Government Leadership to Commercial Opportunities and Ecosystem Development

Luca Giraldi ()
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Luca Giraldi: University of Turin, Law Department

Chapter 2 in Space Economy SEWA - Start, Evolve, or Walk Away, 2025, pp 5-18 from Springer

Abstract: Abstract The global space economy is moving from a government-led, Cold War space race to a commercial NewSpace market driven by private investment and innovation. This overview traces the rise of reusable rockets (Falcon 9, Starship), small satellites (smallsats, CubeSats), and mega-constellations (Starlink, OneWeb) delivering Earth observation, satellite broadband, GNSS, IoT, and geospatial analytics. Fast-growing segments include space tourism, on-orbit servicing and refuelling (OOS/OOV), in-orbit manufacturing, and space resource utilisation (ISRU) across cislunar space and the emerging lunar economy. Public–private partnerships (PPP), venture capital, SPACs, and global alliances are accelerating the space supply chain, from launch providers (SpaceX, Blue Origin, Rocket Lab) and propulsion to additive manufacturing (3D printing), advanced avionics, and AI/ML-driven space data services. Key challenges span orbital debris, space sustainability, space traffic management (STM), space situational awareness (SSA), spectrum policy, export controls (ITAR), cybersecurity, insurance, and evolving space law (Artemis Accords). Linking technology, policy, and finance, the commercial space industry is unlocking opportunities in logistics, precision agriculture, climate monitoring, disaster response, maritime, aviation, and smart cities. With falling cost to orbit and scalable digital services, space economy trends point to multi-trillion-dollar growth by 2030–2040, addressing critical societal and environmental needs.

Date: 2025
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DOI: 10.1007/978-3-032-10645-2_2

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