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This handbook on the "New" Space Economy (NSE) offers the first comprehensive analysis of the contemporary space economy. The "new" is characterized by commercialization, greater participation of the private sector, innovation, and increased engagement of national governments. Using multiple approaches, the volume conceptualizes the boundaries of an emerging field of inquiry, characterized by continuity and change and involving terrestrial and extraterrestrial activities. It covers the fundamental economic, institutional, and technological dynamics and assesses the socio-economic impact of the NSE. Largely a US and European phenomenon, the evolution of the NSE in other spacefaring nations such as China, India, Japan, and Russia is also examined.
In The Oxford Handbook of the New Space Economy, chapters by both academics and practitioners systematically address the changing institutional arrangements, interactions between public and private actors, and the role of innovations and entrepreneurship. As constellations of satellites for earth observations, telecommunications, the internet, GPS, and other civilian applications tackle climate change and monitor natural disasters, the unsustainability of space activities due to orbital congestion and space debris is a reality. The 1967 UN Outer Space Treaty, which views space as a "global commons," needs revisiting to address regulatory challenges in space mining and other uses of extraterrestrial resources. This volume advances the state of knowledge on the dynamics of an emerging new space economy, identifies key stakeholders, and opens up future research areas for policymaking.
