Capturing the Space Economy, Turning Orbit into Sustainable Development Outcomes

The space economy is not the future, it is our present reality. Space infrastructure already underpins services people rely on every day, from GPS in logistics and finance, to satellite backhaul in remote connectivity, to weather data that shapes agriculture and disaster planning. What has changed is scale. Space is moving from a specialist domain into a core layer of national capability and economic strategy.

In 2024, the global space economy reached around USD 613 billion. Asia-Pacific is now the fastest-growing region, and across ASEAN alone, governments are investing at least USD 400 million annually. The next phase is expected to be even bigger; forecasts increasingly point to the space economy crossing USD 1 trillion by 2032.

But the real story is not the headline number. It is whether governments and industry can convert orbital capability into outcomes on Earth, like resilient connectivity, faster disaster response, better climate intelligence, more productive agriculture, and smarter infrastructure. That is where policy, investment, and partnerships will decide who captures value, and who merely consumes it.

For governments, the opportunity is capability, competitiveness, and inclusion

In the public sector, the new space economy represents a chance to embed space into development planning as an enabling layer for digital government, climate action, and economic modernisation. In Southeast Asia, Earth Observation alone could unlock USD 100 billion in GDP by 2030, and satellite connectivity is central to reaching underserved communities.

This requires policy that reduces friction and uncertainty. Investors and operators respond to predictable timelines, single-window licensing, technology-neutral categories, and harmonised spectrum procedures. Where regulation remains fragmented, and landing rights are inconsistent, investment slows even when the use case is obvious.

For the private sector, the opportunity is scale, new markets, and bankable certainty

For industry, growth is happening in two directions at once. Upstream, it is new platforms and service models. Downstream, it is wider demand for data and connectivity embedded into sectors like agriculture, logistics, energy, finance, and public services.

Capital follows clarity. Market access rules and licensing pathways can either accelerate deployment or stall it. The most competitive jurisdictions are simplifying entry, aligning domestic rules with international technical standards, and enabling satellite and terrestrial convergence through streamlined approvals for satellites and earth stations.

Sustainability is now part of the investment equation. Governments are increasingly adopting a hybrid approach that combines incentives and binding rules. Incentives can accelerate innovation, but regulation sets a baseline and reduces free-rider risk, including through tighter debris-related requirements such as shorter post-mission disposal timelines in some licensing regimes.

2026 outlook

In 2026, expect three policy shifts to accelerate:

1. Faster regulatory modernisation: more economies will adopt technology-neutral licensing, simplify entry, and formalise single-window processes with defined timelines.
2. Greater satellite-terrestrial integration: regulators will expand frameworks that treat satellite as a mainstream layer of national connectivity and resilience planning.
3. Tougher sustainability baselines: more jurisdictions will move toward hybrid incentives and regulations models, tightening debris and safety expectations while still using incentives to grow responsible markets.

Alongside these shifts, four industry areas are poised for outsized growth.

1. LEO broadband will enter a new phase of scaled roll-out as more constellations come online, including Amazon Kuiper and China’s Qianfan (Thousand Sails). The policy agenda will sharpen around landing rights, gateways, lawful access, cybersecurity, and universal service expectations.
2. Private space stations and space tourism will move from concept to tangible delivery. NASA’s Commercial LEO Destinations programme has backed multiple commercial station concepts, and the next phase will be defined by operational planning, manufacturing readiness, and partnership formation.
3. Direct-to-device will shift from demonstrations to early commercial playbooks. The proposition is basic connectivity on ordinary handsets where terrestrial coverage fails, but delivery depends on integration, roaming, billing, emergency services, and spectrum coexistence.
4. Orbital refuelling and servicing will mature from a specialist niche into enabling infrastructure, extending satellite lifetimes, supporting debris mitigation, and changing the economics of asset management. That will increase demand for clearer rules on proximity operations, liability allocation, licensing, and traffic coordination.

The governments and firms that win will be those that treat space policy as economic policy, and treat sustainability as a prerequisite for scale, not an afterthought.

About this perspective

This analysis draws on Access Partnership’s work with governments and industry at the intersection of space, connectivity, and policy.

In 2025, our work spanned a range of emerging and established space applications, including LEO broadband, in-flight connectivity, and Earth Observation, as well as newer areas such as commercial space stations and lunar missions. We also supported public sector efforts to update regulatory frameworks, develop market access strategies, and build institutional capacity, with a focus on enabling investment while maintaining secure and sustainable governance.