Foreword 3

Acknowledgements 4

Editorial 5

Reader’s guide 9

Acronyms and abbreviations 12

Executive summary 14

1 Strategic capabilities and competitiveness in the space economy 16

  The case for space: strategic capabilities, economic benefits and the need for strong policy engagement 17

  Public space investment has expanded, but funding intensity varies widely across countries 20

  Civil space R&D remains significant, but growth has slowed 24

  Space-related official development assistance spreads the benefits of government investment more widely 27

  Private finance and firm-level R&D are reshaping investment conditions 28

  Governments are using a wider set of policy tools to support space entrepreneurship and commercialisation. 31

  Legal and regulatory frameworks are becoming more supportive of commercial space activities 34

  Conclusion 35

  References 36

  Notes 38

2 Shifting market dynamics in the space economy: Concentration, diversification and value creation 39

  A transformation of orbital occupancy and ownership in the last ten years 40

  Participation in space activities has broadened, but launch capability remains concentrated 41

  Private operators now dominate activity in orbit 43

  Telecommunications and LEO constellations are reshaping orbital demand 44

  Commercial earth observation services have grown in scale and sophistication 48

  GNSS-enabled digital services are growing fast 51

  Profitability remains uneven across space economy segments 51

  Conclusion 53

  References 54

  Notes 56

3 Innovation capabilities and emerging technologies in the space economy 57

  Space-related scientific publication activities are growing 58

  Scientific production is becoming more multipolar, with emerging economies accounting for much of recent growth 59

  The OECD area continues to lead in scientific excellence 60

  International collaboration in space research is expanding and deepening 62

  Scientific publications point to emerging space innovation fields 65

  Space-related patenting points to new technological development 67

  AI-enabled data processing is becoming a key space innovation frontier 71

  Emerging technologies shaping future space exploration 73

  Nuclear power in space could enable future exploration missions 74

  Conclusion 75

  References 76

  Notes 77

4 Managing vulnerabilities, dependencies and sustainability risks of the space economy 78

  Growing dependence on space systems creates new vulnerabilities 79

  Orbital congestion is intensifying in attractive low-earth orbits 79

  The space debris population is becoming self-generating 81

  Market concentration can create strategic dependencies 82

  Space manufacturing is increasingly exposed to critical supply-chain risks 82

  Space infrastructure, signals and data are increasingly subject to malicious attacks 85

  Conclusion and policy implications 86

  References 87

  Notes 88

5 The Space Economy at a Glance: Country Profiles 89

  Canada 90

  France 96

  Germany 101

  Italy 106

  Korea 111

  The Netherlands 116

  Norway 120

  Switzerland 125

  United Kingdom 130

  United States 135