session 6

Title

Space Sector’s Commercial Transformation: Procurement Opportunities and Financial Transparency

type

oral

Description

The space sector is experiencing a significant shift towards commercialization. Private companies and investors are taking on roles that were once solely the domain of government Space Agencies, such as satellite launches, human space flights or in the future, space resource mining. This shift is opening doors to new economic opportunities and attracting investments from various industries. Simultaneously, space agencies are reassessing their procurement practices to encourage competition and involvement of the private sector. Traditional procurement models are being re-evaluated to foster innovation and cost-effectiveness. Initiatives such as public-private partnerships are examples of procurement approaches that aim to leverage private industry capabilities. As the space sector increasingly embraces commercialization and private sector involvement, there is a greater focus on financial transparency and accountability. To ensure that funds are utilized efficiently and in line with established regulations, regular audits by government agencies [and stakeholders] are becoming more critical to assess financial practices and avoid mismanagement of resources. The purpose of this session is to discuss the procurement and financial consequences of an increasing shift towards commercialization and to exchange on measures taken to ensure transparency and accountability from Industry and Space Agencies’ perspectives. The session will be divided in two parts: the first being a panel discussion on the topic and the second part in which authors are invited to provide abstracts dealing with the subject.

Date

2024-10-17

Time

15:00

Room

Brown Hall 2

IPC members

• Co-Chair: Ms. Christine Klein, European Space Agency (ESA), France;

• Co-Chair: Dr. Henry Hertzfeld, Space Policy Institute, George Washington University, United States;

• Rapporteur: Ms. Karina Miranda Sanchez, ESA, The Netherlands;