The Commercialisation Of Space: Opportunities And Challenges For Business
- IJLLR Journal
- Apr 22
- 1 min read
S. S. Neha Sree, School of Excellence in law, The Tamilnadu Dr. Ambedkar Law University
Dr. S. Maruthavijayan, Assistant Professor, School of Excellence in Law, The Tamilnadu Dr. Ambedkar Law University
ABSTRACT
The commercialization of space highlights an effective metamorphose ascend in the productive business sphere which is accumulating both prodigious opportunities and crucial menaces. This abstract traverse the exposure of witnessing the various private sectors such as spaceX, Blue origin, virgin Galactic, their implications in the space exploration and sense of growth, analyzing the drivers, sustainability, opportunities, and pitfalls correlated with this proliferating industry. From the rapid growth deployment of creative technologies to the space-based service provisions, the commercialization of space provides a wider landscape for business development and innovation. Nevertheless, navigating the convolution of regulatory frameworks, handling lavish amounts in addition to addressing ethical considerations, remains crucial for sustainable success in this emerging field, the global economy and the nature of human exploration.
Keywords: Technology innovation, space diplomacy, Economic growth, global governance, international cooperation, private space industry, space commercialization, NewSpace.
