NewSpace is characterised by entrepreneurial ventures that break the barriers of entry into the space by adopting new business models, focusing on innovation, cost reductions and standardizations, to bring new or revised space products to more consumers. Inherently, this brings up challenges to laws developed some decades ago.
Is it a movement? Is it a market? Is it a way of working? The answer is YES to all the above. A universally accepted definition of NewSpace doesn’t exist, yet. In early 2000s it was a moniker associated with spaceflight ventures such as Space X, XCOR etc. Since then it has assumed a wider meaning as more new, non-governmental actors ventured into the space eco-system.