Failure to effectively address the current space debris challenge could cost the space industry up to $42.3bn over the next decade, according to a World Economic Forum (WEF) report.
The report, a collaboration between WEF and the Saudi Arabia Centre for Space Futures, calls for coordinated global action to tackle space debris and keep Earth’s orbit safe and sustainable.
Humanity is increasingly reliant on satellites to power GPS, weather forecasting and emergency communications. With more than 8,000 satellites already orbiting Earth and thousands more planned, the report warns that this critical orbital infrastructure is at growing risk of collision with space debris.
Space debris is the result of the accumulation of defunct satellites, rocket parts and other human-made objects. It is estimated that 140 million pieces of space debris smaller than 1cm, and over 54,000 tracked objects larger than 10cm, are in low-Earth orbit (LEO).
If left unchecked, the accumulation of space debris could...