Scientific objectives and interaction

The SPACECONOMY project investigates how Finland can sustainably and inclusively harness the emerging space economy. It responds to the growing role of space-based technologies in global digital transformation and addresses the complex intersections of commercialization, environmental sustainability, welfare, and strategic autonomy. Through a multidisciplinary research agenda, SPACECONOMY links advances in EO, GNSS, AI, business models, governance, and societal impact. SPACECONOMY’s research questions are detailed as follows:

  1. How can EO, GNSS, and telecommunications data be applied to improve productivity, resilience and well-being at national and regional levels?
  2. Which regulatory frameworks and policy innovations best support societal trust, fair competition and dual-use governance in the New Space era?
  3. What sustainable and scalable business models enable effective commercialization of satellite-based services across key sectors (e.g. agriculture, logistics, energy)?
  4. What are the long-term economic and welfare impacts of space-based innovations?
  5. How can AI enhance the usability of space data to support equitable access and data-driven public services?
  6. What forms of collaboration between public and private actors foster ecosystem-wide innovation and productivity?
  7. How can innovation, investment and entrepreneurship in the Finnish space economy be increased and regionalized?

We hypothesize that by integrating AI, space technologies and socially inclusive governance models, Finland can significantly expand the societal and economic value derived from satellite infrastructure while ensuring resilience and equity in a rapidly changing geopolitical and environmental context.
Theoretical background and positioning in the international field

Cross-sector collaboration, responsible AI integration and regionally tailored innovation models are key enablers of a sustainable and inclusive space economy [10]. SPACECONOMY is situated at the intersection of space technology, innovation ecosystems, sustainability transitions and responsible AI. It draws on theories of platform ecosystems [11, 12], resource dependence, and systems thinking. These frameworks are well-established in innovation and industrial transformation studies but have not yet been systematically applied to the space economy. This project fills that gap, contributing to an emerging but underdeveloped scholarly field.

The consortium’s members are internationally active in research on satellite navigation and EO technologies, e.g. [13-16], space system design and operations, e.g. [17], space weather and resilience, e.g. [18, 19], and regional innovation, business models and digital servitisation, e.g. [20, 11]. This ensures the consortium’s strong positioning in international networks and ongoing dialogues. Recent publications from the consortium anchor the project's intellectual foundation and showcase the consortium’s breadth of expertise and contribution to frontier knowledge in technology, policy and sustainability. The consortium builds on extensive prior research on space economy [11] and draws on theories from network theory, resource dependency theory, business ecosystems frameworks, all of which have been recognized as key theories in space economy [8]. 

Methodology and multidisciplinary collaboration

SPACECONOMY uses a multi-method approach:

  • AI and data fusion techniques for integrating EO, GNSS and socio-environmental indicators
  • Economic modelling and system dynamics to assess long-term impacts on productivity and welfare
  • Policy scenario-building and foresight methods inspired by co-creation models in maritime navigation
  • Place-based innovation studies to understand how regional contexts shape space economy uptake
  • Qualitative fieldwork and stakeholder co-creation to embed findings in local realities

The multidisciplinary collaboration is structured through thematic work packages and supported by a shared research infrastructure, data platform, and iterative policy-lab processes. Each discipline contributes distinct but interdependent insights that are continuously synthesized.

SPACECONOMY builds on the understanding that technological advancement alone is insufficient for fostering sustainable growth in the New Space era. The project integrates AI-enhanced analysis, ecosystem collaboration, and ethical data practices to support inclusive and responsible innovation. It draws on recent research demonstrating that scalable innovation emerges from the alignment of novel business models, transparent data governance, and active ecosystem engagement [21]. Methodologically, SPACECONOMY draws from foresight-based planning approaches such as those used in Finland’s smart maritime navigation programme, where structured expert dialogues guided long-term infrastructure development [16]. These insights inform the project’s scenario methods and AI-supported policy tools.

The opportunities related to space economy play an increasingly important role also for regional economies and welfare. Cities’ and regions’ capabilities to utilize space technologies and environmental monitoring are vital in harnessing their versatile place-based innovation potential for leveraging innovation, sustainability and resilience in the New Space era [8, 22]. By developing their data-driven governance, regions are in a key position to leverage growth and welfare from the space economy through enhanced forecasting, spatial decision-making and data-driven governance [23]. Prior studies have addressed space-based data utilization and sustainability from a technological lens, but rarely embedded them in place-based policymaking frameworks. The project advances inclusive space economy and broad policy buy-in through wide-ranging stakeholder engagement throughout the project, addressing regional inequalities and needs in diverse parts of the country from a place-based innovation perspective. Inclusion, both geographic and social, can be promoted through innovation policies that provide infrastructure, funding, and support for innovation, entrepreneurship and competence sensitive to place-based potential [24].

In addition to growth potential, the project addresses systemic risks associated with the increasing congestion of near-Earth orbit and extreme space weather events. Disruptions to GNSS also threaten aviation, precision industries, and high-frequency financial trading [25]. The insurance sector has flagged severe space weather as a high-impact, underinsured threat [26], yet it still remains largely absent from mainstream economic risk modelling. Space Surveillance and Tracking (SST) is vital for protecting satellites and mitigating space debris risks by enabling collision avoidance and securing essential services in communication, navigation, finance and defense. A single collision can trigger debris cascades with severe economic consequences. SST helps prevent such disruptions, ensuring continuity in sectors reliant on space systems. As satellite traffic increases, SST is not only a technical necessity but a strategic investment in economic resilience and global stability. Consequently, the implementation of preventive and mitigative measures is essential to safeguard the well-being of global society. This project aims to deliver such measures through dedicated societal services, supported by operational space weather monitoring and space situational awareness activities. In particular, we will leverage the global space weather service for aviation provided by the PECASUS Consortium, as well as the Finnish Space Situational Awareness Center, both coordinated by the Finnish Meteorological Institute.

The space-based EO data are increasingly used to support environmental sustainability including emission reductions by demonstrating greenhouse gas anomalies, revealing unknown methane leakages, reporting policy impacts on air quality and verifying cleantech solutions (e.g. [27-29]). Expectations are high that the upcoming Copernicus Anthropogenic CO2M Monitoring mission (CO2M, launch 2027) will become a real game-changer in how greenhouse gases are monitored from space.  These expectations have boosted the method development, including machine learning, to estimate greenhouse gas emissions [30-32] but further actions are needed so that decision makers and authorities can efficiently use the novel information.

Expected scientific results, potential for breakthroughs and publication plan

The project is expected to:

  • Advance theoretical integration between technology innovation, welfare economics and responsible governance in the space sector
  • Contribute to the emerging field of space economy studies with unique place-based, multi-sectoral and ethical dimensions
  • Deliver new AI tools and open methods for turning satellite data into usable information for public and private stakeholders
  • Clarify the links between space infrastructure and regional development, contributing to OECD and EU-level debates on digital sovereignty and welfare resilience
  • Bridge the academic-policy gap by developing evidence-based, scenario-tested strategies for national space economy development

SPACECONOMY has breakthrough potential in demonstrating how societal well-being and environmental sustainability can be systematically integrated into space economy policymaking. SPACECONOMY results will be disseminated through multiple academic and societal channels. Results will be published in peer-reviewed journals in space policy, regional studies, innovation, remote sensing and AI (e.g., Space Policy, Technological Forecasting & Social Change, Remote Sensing of Environment, Regional Studies, Research Policy) and major international conferences (e.g., IAC, ION GNSS+, European Space Week, ESA Living Planet Symposium). SPACECONOMY will support open-access data and tools, available via the project's digital platform, and produce policy briefs and white papers targeting decision-makers at national and EU levels. The project also aims for composing an open-access book on the space economy, edited by project members and published by Palgrave Macmillan, synthesizing key findings for academic and policy audiences. Through this dissemination strategy, SPACECONOMY will ensure visibility, impact and long-term usability of the research outcomes.