Space commercialization can be defined as the use of space technology, resources, and infrastructure for commercial purposes. This includes activities such as satellite launches, space tourism, resource utilization, and research and development. The ultimate goal of space commercialization is to create a sustainable and profitable space economy that benefits humanity by providing new opportunities for innovation and growth and creating new jobs and industries.
In recent years, an increasing number of private companies and entrepreneurs have entered the sector. One of the major drivers of this growth has been the development of reusable rocket technology, esp. by SpaceX, which has significantly reduced the cost of launching payloads into orbit. This has made it easier for smaller companies to enter the market and has created new opportunities for businesses.
While key prerequisites are in place, esp. more affordable launch systems and much lower-cost satellite systems and spacecraft, the key challenge for the space community will be to create sufficient sustainable business cases to allow for increased commercialization and growth of the space sector.