What is the Space Economy?
The Space Economy is defined by OECD (in its 2012 Handbook on Measuring the Space Economy) as the full range of activities and the use of resources that create value and benefits to human beings in the course of exploring, researching, understanding, managing, and utilising space.
Space creates value
The Space Economy is growing and evolving, together with the development and profound transformation of the space sector and the further integration of space into society and economy. Today, the deployed space infrastructure makes the development of new services possible, which in turn enables new applications, in sectors such as meteorology, energy, telecommunications, insurance, transport, maritime, aviation and urban development leading to additional economic and societal benefits. The space sector is not only a growth sector itself but is the vital enabler of growth in other sectors.
What is the Space Commerce?
One of the key drivers for the continuous growth of the Space Economy is Space Commerce, which is a notion encompassing a plethora of complementary discussions and reflections as to what entails commercial use of space, commercial space, and commercialisation with the interpretation of these terms evolving ever since the dawn of the space age.
Today commercial space is notably defined by at least one (or a combination of) of the following indicators: nature, size and risk of the investment, the nature and dynamics of relationships between contractual parties, and the prospects and viability of self-sustaining markets related to the provision of space-related products and services.
Public actors mandated with commercialisation, therefore, seek adapted tools and suitable mechanisms that enable commercial actors to develop new products, solutions, and services generating sufficient revenue to ensure competitiveness, technological leadership and economic growth while leveraging the opportunities of markets, private investment, and emerging end-user needs.
Become a member
Join the interdisciplinary network which connects individuals from the private sector, public institutions, international organisations and academia. By joining ECSECO you will become a part of a vibrant community which fosters European collaboration toward the further development of the space sector.
ECSECO will offer a wide range of activities such as workshops, networking events, working groups, collaborative research, competitions and many more. Activities of ECSECO are subject to the decisions of the Board and draw on the expertise of the members. The list is open and members are invited to put forward new initiatives!