Research Article

The Space Economy: A New Frontier for Economic Growth and Innovation

Volume: 7 Number: 1 June 30, 2025
TR EN

The Space Economy: A New Frontier for Economic Growth and Innovation

Abstract

The space economy encompasses a wide range of activities and resource utilization related to outer space, increasingly establishing itself as a transformative sector with profound implications for global markets, technological advancement, and international policy frameworks. The growing involvement of private enterprises, coupled with declining costs associated with accessing space, has sparked a remarkable surge in both investment and innovation across various areas, including satellite services, space tourism, asteroid mining, and in-orbit manufacturing. This article explores the complex dynamics of the space economy, analyzing its key sectors, economic viability, and the regulatory, sustainability, and equity challenges that lie ahead. In the initial section of this study, a comprehensive definition of the space economy will be provided, followed by an in-depth examination of its fundamental components. Subsequently, a review of the existing literature pertaining to the space economy will be presented. The final sections will examine the economic impacts of developments in the space economy, as well as future risks and opportunities.

Keywords

References

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  4. Bhattacharjee, N. (2024, December). Global push for cooperation as space traffic crowds Earth orbit. Retrieved from https://www.reuters.com/science/global-push-cooperation-space-traffic-crowds-earth-orbit-2024-12-02/
  5. Blue Origin. (n.d.). New Shepard. Retrieved from https://www.blueorigin.com/new-shepard
  6. Colvin, T. J., & Locke, J. (2024, May 6). Exploring the Use of a Ground-Based Laser System to Deorbit Small Orbital Debris. Retrieved from https://ntrs.nasa.gov/citations/20240005687
  7. Corrado, L., Cropper, M., & Rao, A. (2023). Space exploration and economic growth: New issues and horizons. Proc Natl Acad Sci, 120(43).
  8. Davidian, K. (2024). Understanding How Change Happens: Process Research and the New Space Economy. Mary Ann Liebert, 12(4), 231-232.

Details

Primary Language

English

Subjects

Growth , Macroeconomics (Other)

Journal Section

Research Article

Early Pub Date

April 14, 2025

Publication Date

June 30, 2025

Submission Date

March 11, 2025

Acceptance Date

April 10, 2025

Published in Issue

Year 2025 Volume: 7 Number: 1

APA
Yolusever, A. (2025). The Space Economy: A New Frontier for Economic Growth and Innovation. İzmir Sosyal Bilimler Dergisi, 7(1), 15-31. https://doi.org/10.47899/ijss.1654411

Cited By

İzmir Journal of Social Sciences © 2019
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