Space economy: the engine of the new space race

The dawn of the space economy can be traced back to the Cold War and the geopolitical competition between the United States and the Soviet Union, which has shaped both society and politics worldwide. Since its inception, the space sector has historically been centrally shaped by public investments through mission-oriented policies. These policies have made it possible to address the complex and costly process of developing specific technologies needed to pursue objectives of national interest. Strategic governmental and military goals and geopolitical competition were the main drivers of public investment in the development of launching capabilities and satellite technologies.1 Consequently, governments have had a profound influence on the structure and dynamics of the space sector, acting as the main customers and funders of private companies responsible for the development of strategic assets.