OECD’s analysis of the impacts of Covid-19 on the space industry [Aug/2020]
In July 2020, the OECD published an article on “The impacts of COVID-19 on the space industry”. It highlights the ever growing importance of space in society, but also shows how the crisis has exposed some of the sector’s weaknesses, and makes recommendations on how the public sector should support companies who face significant difficulties with the Covid-19 crisis.
During the crisis, the space sector has provided key solutions to some of the immediate challenges, in particular by supporting connectivity with remote locations and delivering tele-medicine and tele-education services as well as strategic imagery.
However, the space industry is also vulnerable to economic shocks. In fact, number of SMEs, who represent the majority of actors in the space sector, have encountered financial issues that have been putting their survival at risk, while larger space companies have been facing delays in production and deliveries.
Governments have reacted promptly to support companies from the space sector, to keep the business running and contributing to the economic growth, employment, scientific and technology development. However, OECD recommends more targeted measures to ensure that the weakest actors survive and the necessary diversity of the sector is maintained.
To access the article and more detailed information, please click here.