Impact of Ownership Patterns on Outer Space Regulations

Abstract

The increased participation of private companies and the commercialisation of outer space industry in recent times has generated considerable discourse among international regulatory bodies and experts about the potential effects of new entrants’ activities on the efficiency of existing international space laws and compliance approaches. In this article, I examine the recent trends in the space industry attributable to the new private actors, particularly the emerging risk exposures to existing global regulatory systems. Furthermore, I propose the adoption of corporate governance and ‘comply or explain’ compliance approach as a potential complementary regulatory tool to cushion the effects the non-state actors pose to the interconnected regulatory climes.

Keywords: Outer space, comply or explain, corporate governance, space law

JEL Classification: K33