SPACE COMMERCIALISATION: Prospects, Challenges and Way Forward

Description

Considerable prospecting has been done in outer space to find natural resources and mineral deposits that can be excavated.  Commercial space travel and tourism have been found technically feasible and economically viable. So is the enthusiasm for demographic migration to celestial bodies. Governments are not inclined to invest in commercial development and allied ventures. So, private players are ready, having harnessed technology and mustered funds and enough guts to take risks. Thus, the commercial scene in outer space activities is brimming with anticipation.

The challenge is legal. Space law brooks no sovereignty on celestial bodies; private appropriation of celestial resources is not permitted and profit accruals from commercial activities in outer space have to be shared for the benefit of all countries.  Other incidental challenges are that the share of each country and the modalities of distribution are not yet in place. And there is no competent organization to ensure incumbent regulation and compliance.

Humanity should not be made to wait endlessly to enjoy this bonanza from outer space. This book describes such potentialities, discusses legal implications and explores the way forward with practical suggestions for immediate action as well as long-term plans for implementation.