The Economic and Legal Architecture of Commercial Space Exploration
( Pp. 204-209)

In the 2020s, commercial space activities have ceased to be a peripheral segment and have become an integral part of the infrastructure economy: satellite communications, navigation, and Earth remote sensing form stable value chains in transport, financial services, energy, and public administration. The aim of this study is to identify, through institutional analysis, the key economic mechanisms that ensure the effectiveness of space commercialization and to determine the legal instruments that minimize the associated risks. The article systematizes the sector's growth factors (lower entry barriers and service scalability) and demonstrates that law retains for the state the function of a safety guarantor and manager of external effects. The methodology is based on institutional analysis and a comparison of regulatory practices: market access (authorization procedures and licensing), liability distribution and insurance, and requirements for the sustainable use of orbits and radio frequencies as limited resources. It is shown that sector growth is driven by lower entry barriers and service scalability, while law keeps the state as the ultimate guarantor of safety and manager of externalities. The main results of the work consist in identifying three critically important components of the regulatory architecture: predictable licensing criteria, an integrated system of liability and insurance, and economically justified standards of orbital sustainability. The conclusion is drawn about the need to transition to an "architecture of predictability" in regulation, which combines clear admission criteria, space sustainability standards, and transparent chains of responsibility throughout the entire life cycle of a space object. Special attention is paid to the analysis of the emerging Russian segment of commercial space, its players, strategies, and prospects.

Punchenko, P.B. (2026). The Economic and Legal Architecture of Commercial Space Exploration. Economic Problems and Legal Practice, 22(1), 204-209. EDN: GRCCQL

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space economy, space law, licensing, liability, insurance, space sustainability, public-private partnership..