Space will undoubtedly play a significant role in the next chapter of human history. A 2024 report by McKinsey estimated that “the global space economy will be worth $1.8 trillion by 2035 (accounting for inflation), up from $630 billion in 2023”, and we are watching it grow year on year. While the private sector has undeniably sparked this new space age, it has not done so without contributions from the public sector.

Last month, King’s Business Review had the opportunity to sit down with two of the world’s leading space figures, Director Aarti Holla-Maini and Rosanna Hoffman, Head of the Global Space Law Project, from the United Nations Office of Outer Space Affairs (UNOOSA), to discuss the commercial space sector, international space law, and the regulatory framework that makes the modern space sector not only possible but successful. As such success continues, and space becomes a playground for private-sector companies, UNOOSA’s role is to ensure that space remains peaceful, safe, and sustainable.

UNOOSA Director Aarti Holla Maini at a King’s College London panel discussion on March 6^th, 2025. Image credit: Luka Božić.

The Background

Space law is at the centre of international law, diplomacy, science, and regulation. Despite the connotations that it might attract, it has existed for over half a century. Space law emerged during the Cold War and led to various agreements and treaties, notably the Outer Space Treaty of 1967.

“It is the Magna Carta [of Space Law],” says Dr. Hoffman. “It’s not written in a way that it’s only applicable to technologies that were around in the ’60s and ’70s.”

Since then, space law has continued to ensure that outer space remains peaceful, sustainable, and accessible to all for decades. With renewed interest from the private sector, a new space age has undoubtedly begun, and with a rapidly evolving and competitive industry, space law is at the heart of it all. However, that does not mean the treaties are unprepared for or incapable of dealing with the rise of private-sector interest in outer space.

“You don’t try to fix what isn’t broken,” says Director Holla-Maini, “[The treaties] work well for what they are, what they intended to do”. She continues, “There’s an assumption that because it was made in 1967, it must be out of date”. “Yet all core principles still apply today, maybe more so even.”

The adaptability of space law is no accident, though; it is by design. Article 6 of the Outer Space Treaty introduced an obligation to authorise and supervise and gave international responsibility for “national activities in space,” regardless of whether they are governmental or non-governmental. Even decades ago, the treaty’s drafters could see the potential for a rise in non-governmental actors, including private-sector companies.

As Dr. Hoffman explains, “If you look at, for example, Article 6 under the Outer Space Treaty, the states participating in this race were aware of the fact that there will be industry at some point.”

Therefore, introducing frameworks and regulations is the easiest way for states to meet their international obligations, which is why space law has become a rapidly emerging area. More and more nations are looking to the stars, guided by the principles of these treaties and their obligations to uphold them.

“This obligation to authorise and supervise, the easiest way to do it is to have a national space law in place, to have regulation in place”, Dr. Hoffman asserts as she underpinned the importance of these treaties. “Why is it now that we have this resurgence of more than 60 countries in the process of drafting such law? It’s due to the obligations enshrined in the Outer Space Treaties, and the legal clarity national laws provide to investors and companies wanting to start their space journey”.

Rosanna Hoffman during a presentation for UNOOSA. Image Credit: The European Space Agency.

UNOOSA’s Place in Outer Space

The private sector has renewed interest in efforts in outer space. The development of satellite constellations, initiatives for space mining, and proposals to make humanity multi-planetary have generated significant international interest. However, it raises the question of who is responsible for maintaining order in space.

As we have covered, the signatory states to the treaty are responsible for authorising and supervising any activities in outer space. However, what happens if a party to the treaty does not adhere to its obligations, even those outside of Article 6?

“There is no space police,” joked Dr. Hoffman. “[However], I would argue, and I believe a lot of others in the field of space law would argue similarly, that the treaties have a self-regulating mechanism.” Dr. Hoffman explains. “Why do I say this? We all rely on space assets, right? We need them for navigation, telecommunication, disaster management, earth observation, and so many other things. Whatever happens in space to one space asset will most likely also negatively affect the space assets of another country and thereby be to the detriment of their citizens relying on that technology”

Therefore, states are upholding their obligations not only because failing to do so will threaten their infrastructure but also because it will incentivise other states to do so which goes a long way to maintaining safety and sustainability for all actors. However, good old-fashioned diplomacy would always exist if the framework failed to provide enough incentives to ensure governments met their obligations.

As Dr. Hoffman says, “You do not want to be the country that does not adhere to the treaties, it’s bad for your global standing.”

Therefore, UNOOSA plays a much different role than one might expect from the United Nations in the workings of outer space.

“We are not in charge of space security,” explains Director Holla-Maini, “but we are in charge of safety and sustainability”.

To achieve this, UNOOSA significantly supports member states in developing their policies and national space laws. The office also facilitates dialogue on matters regarding space in its role as the Secretariat to the Committee on the Peaceful Uses of Outer Space (COPUOS). In a renewed space age, these functions have never been more vital to continuing outer space’s sustainable and peaceful use.

“That’s why this work now matters,” states Director Holla-Maini. “Space law and policy implementation, this we can do, and this is the first building block of space sustainability in any country.”

In a sector that has rapidly grown and continues to grow, and where interest lies in hundreds of companies and thousands of individuals, UNOOSA has a clear role: to ensure the continued peaceful and sustainable use of outer space. Their work is vital to establishing and creating a truly successful space-based economy that is peaceful, lawful, and sustainable.

The Emerging Concerns of a Renewed Space Age

Whilst the framework is undoubtedly flexible and adaptable, there are frontiers which raise deep challenges for the system of space law. As humanity aims to settle the Moon and Mars, the framework will be tested and may have to evolve to account for a multi-planetary human race. Whether that be off-world colonies, resources, or the growing number of space debris in orbit.

“The Outer Space Treaty is just as applicable to off-world colonisation, if you so want, as it is to launching a satellite,” Hoffman notes, ” You have Article 5 of the Outer Space Treaty, specifically dealing with envoys of humankind. So, this would clearly be mostly applicable to national astronauts at the minimum. Then, of course, you have the Rescue and Return Agreement, ARRA, which would also be, of course, just as applicable to these types of activities.”

The Outer Space Treaty and space law take such considerations into account. However, certain treaty areas will need clarification or guidance in this growing space age to ensure member-states can correctly maintain their obligations. A particularly complex issue recently is space resource extraction, especially as bases are set to be established in the next few decades.

“There is a Working Group on Legal Aspects of Space Resource Activities,” notes Dr. Hoffman, “the outcome of that mandate is to come up with a set of principles that would be applicable to the exploration, exploitation and utilisation of space resources.”

However, the modern geopolitical climate has led to subsequent agreements that may not be as widely accepted as the Outer Space Treaty. In 2020, the U.S. government moved to ratify the Artemis Accords, relating to American efforts to establish a presence on the moon through the Artemis Program and missions. Whilst heavily based on established space law, including the Outer Space Treaty, the accords are simply political declarations. They are not universally accepted and have only 54 signatories as of April 2025. Efforts by the United Nations will therefore have a more widespread approach.

“These working group principles, once adopted, would be an important step, as all 104 state Members of COPUOS would have to agree with their content, as the Committee requires consensus,” explains Dr. Hoffman.

However, there are also concerns a lot closer to home. As more and more efforts are made off-planet, the planet is slowly becoming enveloped by a sea of debris. According to the European Space Agency, more than 13,900 tonnes of space debris are in orbit around Earth.

UNOOSA Director Aarti Holla Maini at a King’s College London panel discussion on March 6^th, 2025. Image credit: Luka Božić.

“You can’t dodge debris forever,” says Director Holla-Maini. “We all have assets and none of us wants our satellites to collide with each other. So, regardless of our political opinions and intentions, we all have a shared interest in not wanting our satellites to clash.”

However, as Director Holla-Maini claims, there seems to be a “market failure” regarding space debris. There is currently no incentive to reduce space debris. Despite that, as Dr. Hoffman explains, there might also be legal issues.

“Let’s say I take your defunct satellite… Who’s going to be liable? Is it going to be me, Germany? Is it going to be you, the UK? Once you register it, you obtain jurisdiction and control over the satellite. Now, do I even have the right to grab that satellite?”

Therefore, a set of principles on coordinating and safely retrieving space debris would be needed.

“And then that would attract, as [Director Holla-Maini] said, further investment and more industry being interested in such types of activities.”

Regardless of the issue, whether debris or resource extraction, space law is a flexible framework willing to respond to an ever-changing landscape.

Looking to the future

UNOOSA’s mandate is forward-thinking. The office is not simply responsible for managing the present but also shaping the future of space and ensuring it will remain safe, peaceful, and sustainable for generations to come.

The United Nations Office of Outer Space Affairs may not command a fleet of satellites or operate its own launches. However, their influence is no less critical. As the prospect of space and multi-planetary life grows closer, UNOOSA ensures that humanity does not waver from the principles it bound itself to during the height of the Cold War: co-operation.

King’s Business Review was delighted to have this opportunity. We would like to personally thank the UNOOSA team, including Director Aarti Holla-Maini and Rosanna Hoffman, for meeting with our Political Editor during their visit to King’s College London.