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Space is now up for grabs for economic hegemony

Published : Wednesday, 26 March, 2025 at 12:00 AM  Count : 374
Arnab Ashraf
As we stand on the abyss of a new era in the human history, the dynamics of space ownership and its economic implications have become significant issues of discussion.

The uncharted heavens above are no longer the sole preserve of government agencies and a handful of private corporations. The rapid expansion of space-based projects, ranging from satellite constellations to interplanetary exploration, is about to usher in a new economic frontier where the control of space will dictate not just technological advancements, but also the very shape of our geopolitical and economic systems.

The rise of companies, such as SpaceX, with its Starlink programme, and Amazon's Project Kuiper, alongside the ongoing efforts of national space agencies, is redefining the parameters of global space ownership. Yet, amid this growth, one question remains at the forefront: who owns space? And, more crucially, who controls its wealth and resources, particularly when it comes to the commercialisation of space science and its inevitable economic consequences?

The space is no longer simply a realm for scientific inquiry or military supremacy. It is, increasingly, a vast economic domain, an arena where the competition to control the skies is as intense as any political struggle. As satellite networks proliferate, space becomes a strategic resource that will shape the global economy for generations to come. The question now is whether this boundless, celestial domain will fall under the control of a single, monopolistic entity, or whether it will mature into a diverse, multi-polar ecosystem, where nations, corporations, and international coalitions all compete to shape the future of space.

For those of us committed to the principle of shared prosperity, this vision of space cannot be left to a few powerful entities. The future of space must be one of inclusive governance, collaboration, and fairness, ensuring that the benefits of space exploration and infrastructure are distributed equitably across the globe, especially to those nations and communities currently excluded from the great wealth of the digital age. The concept of space as a global commons is not just idealism, but a moral and economic imperative also!

Yet, as the space economy grows, so too does the potential for monopolistic control. In the case of Starlink, SpaceX's satellite constellation designed to provide global internet coverage, the possibilities are vast. However, who profits from this technology? Who determines its cost? And, critically, who has access to the service? These questions highlight the profound economic impact space science can have on both national and global scales. In the absence of effective regulation, space could easily become the next billionaire's playground, reinforcing the growing inequities between the global North and South.

The risks associated with such a scenario are numerous- enormous also! The potential for a space oligarchy-a small group of corporations or wealthy nations controlling all of space's vital resources-poses significant risks not only to the global economy but to international peace and security. The space race, once driven by national pride and the desire to push the boundaries of science, now threatens to become a new arena for economic warfare. The winners will be those who control space's infrastructure: the satellites, the data, the communication networks, and even the resources that lie beyond Earth's atmosphere.

In the heart of this dilemma lies the principle of multi-polarity: a vision that seeks to prevent the centralisation of power within a few hands. Just, as we have witnessed a global push towards multi-polarity in geopolitics -where emerging powers challenge the dominance of long-established global players - so too, must, we push for a multi-polar space race: one that includes diverse stakeholders, from governments to multinational corporations to non-profit organisations and developing nations.

This new space economy must not be the preserve of the few but the domain of the many!

The current sky digital movement, advocated by global organisations, stands as a testament to this vision. By promoting equitable access to space-based infrastructure, we are calling for a space economy that places the interests of humanity at its core, not just those with the deepest pockets. Space, after all, is not an extension of national borders, nor a commodity for corporate gain: it is the property of all mankind. It is our collective responsibility to ensure that its wealth, power, and opportunities are shared fairly, for the benefit of the global community.

As nations like Bangladesh explore their future in the space economy, we must resist the temptation to allow monopolistic entities to seize control of these vital assets. While private ventures like Starlink can offer innovation, their potential to exacerbate global inequality must not be overlooked. Instead, we must encourage collaborative and inclusive governance, where no single actor dominates the conversation or the infrastructure. Only through international cooperation and shared stewardship can we prevent the commercialisation of space from becoming a tool of exclusion, and instead create a future in which space benefits all of humanity.

We stand at the dawn of a new age truly! The sky is no longer the limit: it is the frontier of opportunity. But as we move into this uncharted domain, we must ensure that it remains a space for cooperation, not very commercial competition: a space for all nations, not just the powerful few.

The future of space will not be determined by the wealth of a few billionaires, but by the collective will of humanity.

In shaping the space economy, we must ensure that we don't repeat the mistakes of the past. The heavens should not be the exclusive domain of a privileged elite but a global resource. Let us claim the new frontier of space for all, and in doing so, shape a more equitable, inclusive, and prosperous future for generations to come.

The writer is a journalist with The Daily Observer


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