A Cost-Benefit Framework to Assess the Socio-Economic Impacts of Space Investments

The space sector is undergoing a profound transformation known as the new space economy. This shift is marked by innovative, more efcient space technologies and applications, alongside a growing involvement of private entities in supporting public investments or assuming autonomous roles. In this dynamic context, assessing the costs and benets of space investments is paramount, particularly as the demand rises for assessing the nancial and socio-economic impact of alternative projects and programs. In this chapter, we present an evaluation framework to capture the value of investment in the context of the new space economy. Drawing on recent studies in cost-benet analysis for research infrastructures and the socioeconomic impact of investments in the space industry, we elucidate the costs and benets of space investment throughout the space value chain, considering different agents, each affected to varying degrees by these investments. Furthermore, we provide empirical evidence of recent applications tailored to Italian rms.