OECD-The impacts of COVID-19 on the space industry

05 August 2022 |

As part of the digitalisation of the economy, satellite signals and data play an increasingly pivotal role in the efficient functioning of societies and their economic development. The recent growth in the sector has generated unprecedented levels of entrepreneurship and start-up activity. However, with the COVID-19 crisis, this positive trend could be reversed. While many space sector firms seem to be able to cope, a significant number is struggling, particularly small and medium-sized enterprises that constitute the bulk of commercial actors in the space industry. Considering the high costs of entry to the sector, there is a risk that the crisis could lead to more industry concentration, eliminating smaller and younger firms that are key sources of innovation, employment and economic growth. Space agencies and other public administrations therefore need to fully consider vulnerable smaller actors in their overall crisis responses. 

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