Evolving Dynamics of the Spanish Space Sector: Institutional Influence in the Spanish New Space Economy

Abstract

AbstractSpain’s space sector is an example of the increasing relevance of private ventures but also the complementary engagement of the public sector to prepare the Spanish industry for the “New Space” scenario and opportunities. The objective of this chapter is to critically analyse the recent evolution of the Spanish Space sector. To achieve this, we adopt an institutional configuration perspective focusing on formal institutions’ role in shaping sector dynamics. We show that institutional support was crucial for developing traditional space companies. We also highlight that the evolution of new businesses has not only been influenced by the traditional university-industry-government relationships but has also drawn from the experience and expertise developed by established “Old Space” companies. The emergence of bidirectional relationships between old and new market participants is a distinctive feature of the Spanish sector and can help the sector's competitiveness in the “New Space” scenario.