The Space Economy is defined by OECD 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.
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.
This dynamics led some analysts to declare that the space industry could become the next trillion-dollar industry by 2040. The main current trends which are impacting the Space Economy include: