In recent years, there has been a shift in the way we view space: from a sector associated with technology, science, and research, to one linked with geopolitical prestige and the advancement of human knowledge, it has gradually become clear that space is also an important driver for the economic system of any country.

We are witnessing a significant change in the space sector, which today is experiencing unprecedented growth due to a multitude of factors that are simultaneously altering its traditional characteristics, leading to the definition of what we now consider the New Space Economy.

In the past, space was a sector typically driven by public entities, while today we are seeing increasing involvement from private investors, due to the growing business opportunities generated by the push toward commercialization. Space is a new economic frontier that is attracting partners who are increasingly aware of its future growth potential.

There has indeed been a growing interest in the sector, driven by technological advancements, new potential applications, and the proliferation of new entrepreneurial ideas. The exponential growth of startups and the consolidation of numerous innovative SMEs, in contrast to a sector traditionally dominated by a few large players, are pushing toward the emergence of new business models, such as vertically integrated operators merging with a range of disruptive new technologies (consider Artificial Intelligence, Quantum Computing, or even the agile and lean production of microsatellites).

All these elements have led to the creation of a new sector called the "New Space Economy," characterized by an increasing use of public-private partnerships (PPP) and a growing commercial demand—drivers that are radically changing the traditional model based on the multilateral international collaboration of space agencies, such as the Italian Space Agency (ASI). This set of changing factors requires space agencies and organizations to reassess procurement procedures and gradually update their processes and areas of action, with the goal of empowering companies and SMEs through innovative financial tools and public-private partnerships.

Another key element is to enable access to the opportunities of the Space economy for entities not traditionally classified as space-oriented: new developments in this sector open up new possibilities for involving different industries, fostering innovation and economic growth. Ensuring the integration of advanced space technologies into current processes will enable non-space businesses to optimize their operations, improving resource management and enhancing innovation in business models. This cross-sector approach not only increases competitiveness and business resilience in global markets but also accelerates digital transformation, promoting a more sustainable and efficient adoption of emerging technologies.

At the same time, promoting the sustainability of the Space economy is also crucial in this specific field, which must foster sustainable technologies and practices, ensuring long-term inclusive and responsible growth. The sector needs to be supported, particularly in reducing space debris, developing renewable energy in space, and in-orbit servicing, creating the conditions for the development of a circular space economy.

These are critical elements that the Italian Space Agency considers central to its strategies for the Space Economy, alongside and in conjunction with all other activities successfully carried out since 1988.

The New Space Economy is thus radically transforming the space industry, which is shifting towards new funding models, new technologies, a new geopolitical framework, new private players, and even new, unconventional collaborations. For instance, consider the space suit that will be worn by the next astronaut to step on the Moon, developed jointly by Prada and Axiom Space. In this dynamic and evolving context, ASI is progressively changing and updating its role, promoting and encouraging innovative entrepreneurship, striving to build a regulatory framework that is favorable to investments, while also working to reduce technological barriers to entry in the various markets of the Space Economy.

THE ITALIAN SPACE INDUSTRY CATALOGUE

The Italian Space Industry 2020 Catalogue

INNOVATION AND TECHNOLOGY TRANSFER

The ITT activities can be summarised in three main macro-areas: