SPACE ECONOMY AND RELATED ACTIVITIES
The space economy is the full range of activities and the use of resources that create and provide value and benefits to human beings while exploring, understanding, managing, and utilising space. Hence, it includes all public and private actors involved in developing, providing, and using space-related products and services, ranging from research and development, the manufacture and use of space infrastructure (ground stations, launch vehicles, and satellites) to space-enabled applications (navigation equipment, satellite phones, meteorological services, etc.) and the scientific knowledge generated by such activities. The space economy has expanded beyond its previous limitations inside governmental space organisations. It has now evolved into a multifaceted domain with more activities dominated and driven by private organisations. With the rapid progression of technology and the increasing accessibility to space, the space economy is undergoing transformative changes, impacting and accelerating other technology-driven economies and unlocking novel opportunities that were previously uncharted.
Consequently, the generic space value chain is continually transitioning from a traditional upstream-driven technology push (upstream creates assets to be exploited by the downstream market) into a market-demand pull (downstream drives space systems development with needs for new services).
Malaysian Technology Strategic Outlook 2023/2024 Energy, Healthcare & Space Industry 96
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