“New Space" is reshaping the economic landscape of the space industry and has
far-reaching implications for technological innovation, business models, and
market dynamics. This change, aligned with the digitalization in the world
economy, has given rise to innovations in the downstream space segment. This
“servitization” of the space industry, essentially, has led to the transition
from selling products like satellites or spacecraft, to selling the services
these products provide. This also connects to applications of various
technologies, like cloud computing, artificial intelligence, and
virtualization.
Redefining Space Commerce: The Move Toward Servitization discusses
the advantages of this shift (e.g., cost reduction, increased access to space
for smaller organizations and countries), as well as the challenges, such as
maintaining safety and security, establishing standardization and regulation,
and managing risks. The implications of this may be far-reaching, affecting not
only the space industry but also related fields, such as defense,
telecommunications, and activity monitoring. This report also explores the
transformative changes happening in the space sector and their impact on
economic evaluation and space policy.