Measuring the Technological and Economic Effects of Space Activities

Abstract This chapter reviews and contextualizes the economic effects of US space activities from the 1960s Space Race to the 2020s. Initially driven by Cold War geopolitics, early space efforts led to significant advancements like the Apollo missions and satellite technology. Today, the focus has shifted to sustainable space economy initiatives, where private companies take on more risks and receive more rewards, promising substantial commercial and scientific benefits. First, this chapter provides examples of how space investments have contributed to technological progress and economic growth. The chapter then analyzes the microeconomic and macroeconomic effects of space activities, outlining key contributions in both areas. The chapter concludes by highlighting new research directions to study the peculiarities of the emerging new space economy.