Space Sustainability Policies: Analysis of the Current Economic Impact and Future Perspectives

In recent years, sustainability matters have gained increasing importance in several sectors. As evidenced by the increasing number of policy instruments lately implemented to address space sustainability, particularly concerning the space debris problem, the space industry is no exception. However, the effort invested in tackling space sustainability issues through regulatory instruments is not matched by an equivalent commitment to understanding the economic impact of these measures on the space industry. Furthermore, the current policy framework for space sustainability relies on vague and outdated hard laws and fragmented soft laws, resulting in weak enforceability and limited effectiveness. This thesis evaluates the economic impact of the current policy framework for space sustainability on the space industry through three different case studies analyzing the financial effect on satellite manufacturers, in-space service providers, and space start-ups. Using a combination of literature reviews and online questionnaires, the economic impact is evaluated from the perspective of scholars, industry stakeholders, policy experts, and policy-makers, to ensure a comprehensive analysis of the topic. Furthermore, this work examines the current international and national policies, highlighting their major deficiencies in facing space sustainability issues. Subsequently, it presents the proposal for a new regulatory framework for space sustainability addressing these shortcomings. The new policy framework is constructed based on the establishment of a United Nations sub-agency that acts as a clarifying entity in charge of issuing international space hard laws for space sustainability. This new set of regulations comprises an official legal definition of space debris, policy mechanisms to address the liability problem, incentives for active debris removal activities, and instruments to sustain space companies in the sustainability transition.