The space economy is expanding and becoming increasingly global, driven by the development of evermore governmental space programmes around the world, the multiplication of commercial actors in value chains, durable digitalisation trends, and new space systems coming of age. It highlights the  growing importance of space activities for the economy, for developing country strategies, for the pursuit of knowledge and scientific discoveries, and for society in general. This session will explore how to get the most out of space investments and promote sustained socio-economic growth.

The final goal is to foster the discussion on:

How the space industry and technology can support the solution to the region challenges and contribute to the development of new opportunities for the Mediterranean countries.

How the space industry contributes to building the next generation of Mediterranean space systems and aims to accelerate the use of space in the region to bring prosperity, connectivity and greener living for the Mediterranean economy and people.

Key points for discussion:

• The ongoing transformation of the Mediterranean space sector
• The returns from space investments
• Digital (r)evolution in manufacturing and in the production of space systems
• The role of emerging technologies in addressing grand challenges.

Although national situations differ, a variety of actors are involved in the creation and diffusion of knowledge in the space sector. Investment in science and basic research play a key role in innovation systems by pushing the knowledge frontier. Public institutions still provide the foundations for a large share of ongoing space activities and future space innovation in most countries, and they rely on sustained institutional support. Business enterprises play a significant role in space programmes in many countries. Start-ups are particularly active in downstream space applications and are often quite detached from the traditional space industry. And the higher education system is also a crucial actor in basic research, undertaking three-quarters of total basic research.

Used in many sectors, challenges and prizes are a relatively recent set of tools to stimulate innovation and entrepreneurship in the space sector. These prizes are multiplying around the world, and are funded by governmental agencies or private organisations, or jointly. They not only attract entrepreneurs and media attention, but are also motivating the established industry.

Moreover, there is growing interest in specific economic benefit domains of government space programmes, such as contributions to innovation or entrepreneurship. Government space R&D programmes, especially in the domains of spaceflight and on-orbit applications (e.g., launch, earth observation, space exploration) have specific characteristics that lead them to be particularly beneficial for participating firms and organisations in terms of knowledge and technology  transfers.