New Space: The European Union's Evolving Space Policy and Changing European Space Ecosystem

Abstract

Throughout the years, the identity and institutional capacity of the European Union (EU) has changed. As a global actor in international politics, the EU has perceived the need for developing a comprehensive space policy perspective. This perspective has evolved by the changing dynamics of the space ecosystem i.e., "New Space", and it is a phenomenon that consists of new business models, new technologies, new markets, new value chains, and new actors. New actors in space activities have drastically altered the dynamics of space activities. This paper aims to examine the new actors in the context of European space governance, and scrutinise the tendencies of space companies so as to develop a better understanding of the European space system. The article concludes that, being aware of the undeniable importance of space applications and the security of space systems, the EU attaches importance to catching the "New Space" trend in its governance structure and encouraging appropriate changes in the sector.