by Josef Aschbacher
Director General
European Space Agency

There is no need to point out the importance of commercialisation in the space sector. It has been implemented and visibly demonstrated in all corners of the world. The commercialisation of space has entered a new dimension with the digital sector massively investing in the space sector, giving it the attention, credibility, funding and even celebrity the American space industry needed to grow colossally and at a very quick pace. Its success set off a ripple effect overseas, encouraging similar investments in space industries in Japan, China, India, UAE, to name a few. Around the globe, countries have been further encouraged to heavily invest in space after being woken up to the great economic, societal and strategic benefit potential the sector promises.

Certainly, the US has led the way more than a decade ago, but today basically every country puts a huge emphasis on putting the commercial sector into the driving seat for “NewSpace” projects, however you may wish to define NewSpace.

PARIS (ESA PR) — Today, ESA opened its Global Space Markets Challenge. This competition is intended to be a springboard into international markets for small promising space-based companies in Europe, specialised in upstream and downstream activities.

Developments within small European companies continue to advance Europe’s expertise in technologies, create jobs, stimulate the space economy and benefit daily life through applications such as telecommunication, science data, Earth observation and navigation. This competition serves to extend their reach into international markets.