Space Economy

The term “Space Economy” refers to the economic activities related to the exploration and utilization of space. It encompasses a wide range of sectors, including satellite manufacturing, launch services, space tourism, mining of celestial bodies, and research in space science and technology. The space economy is driven by both governmental and private sector investments, with increasing participation from commercial companies seeking to leverage space for profit, innovation, and technological advancements. As interest in space exploration increases, the space economy is expected to grow, creating new markets and opportunities for economic development on Earth and in space. The term highlights the intersection of space-related activities with economic principles, focusing on how these activities contribute to economic output, job creation, and the overall development of industries related to space.