Space Is Going Commercial in Asia, but There’s a Rocky Road Ahead

Abstract

Space commercialization is creating opportunities for businesses, headaches for governments, and confusion for Asia-Pacific consumers. Space is commercializing faster than ever and creating opportunities for businesses in what is expected to become a trillion-dollar industry. The global space-related economy expanded to nearly $470 billion in 2021, with the commercial space domain growing more than 6 percent since 2020 and the world witnessing more than 1,000 new spacecraft in orbit during the first half of 2022 alone. This growth has implications for international business, international security, and the environment.