The Space Economy Takes Off - Diplomatic Courier

The recent wave of technological innovations springing from the Fourth Industrial Revolution has opened up a huge opportunity in the space economy. Decreasing costs and a relatively open competitive field could mean huge growth; however, as a panel at the World Economic Forum Davos meetings this past January discussed, there are a number of potential pitfalls that could slow or even halt the growth of the space economy. The experts outlined the need for public-private collaboration, the innovations on Earth that have placed humanity on the threshold of this new frontier, and the possible downfalls the industry still faces. Here are the key takeaways. Public-private collaboration is the best way to foster growth in the space industry. The public sector may facilitate the growth of the space economy by building its infrastructure and absorbing some of its initial risk.