What's Happening?
The World Economic Forum (WEF) has released a report titled 'Clear Orbit, Secure Future: A Call to Action on Space Debris,' in collaboration with the Centre for Space Futures, the Saudi Space Agency, LeoLabs,
and Novaspace. The report projects that space congestion could cost the industry between $25.8 billion and $42.3 billion over the next decade, even without major collisions. The report emphasizes the need for urgent progress in regulation, international collaboration, and technology innovation to manage the growing number of satellites in low Earth orbit (LEO) and prevent potential collisions.
Why It's Important?
The increasing congestion in space poses significant financial and geopolitical risks. The projected costs include revenue losses from service interruptions, satellite replacements, and risk-reducing maneuvers. The report highlights the importance of sustainable practices in the rapidly expanding space economy, which includes commercial space stations and large satellite constellations. Addressing space debris is crucial for ensuring the long-term sustainability of space activities and protecting valuable space infrastructure, which is estimated to be worth $3.03 trillion over the next decade.
What's Next?
The report calls for improved collaboration and data-sharing among space actors to prevent conjunction events. It also urges launch providers to commit to controlled reentries and end the practice of abandoning upper stages in congested orbits. Regulators are encouraged to embed international best practices in domestic law and provide financial incentives for sustainable behavior. These measures aim to mitigate the risks associated with space debris and ensure the safe and sustainable use of space.
