Emerging Trends and Potential in Commercial Exploration of Outer Space: The Need for International Space Law Regulations

Space exploration remains one of the most fascinating fields in modern day science. This is because on one hand it involves very complex aspects of technology, but at the same time it remains an adventurous and attractive area of study. However, this area has undergone tremendous metamorphosis. During the cold war era, the 'space race' as it was then known was an amphitheater where the then two superpowers, the USA and former USSR flexed their muscles as to who had the most advanced technology and ideas. However, today there are new players such as China, Japan, India, Pakistan, France, Brazil, Australia, Israel, South Korea, Iran and even Nigeria. These nations are unleashing the latest space technology making the competition more stiff and polarized. However, the most radical change is that of that of the motive behind space exploration. In the past the main objective was science and technology. But today, the emerging trend is that of space ventures for commercial purposes. This is because both state and non state actors like business entities are exploiting the outer space for purposes of making profits. These activities revolve around space tourism/ commercial space flights, space mining and energy ventures, intellectual property rights and space military ventures. Many of these players are investing heavily with the aim of reaping from these ventures which are considered lucrative. An example is British Billionaire businessman Sir Richard Branson whose company Virgin Corporation is setting up a commercial space flight company in New Mexico, USA. Finally, there is intense research to establish whether planet Mars can support human life and whether in due course it may be considered as an alternative settlement for mankind’s growing population. This may open up the outer space for commercial appropriation by both state and non state actors. These factors have complicated the entire rules and practice of space exploration. This is because the current framework on international space law is outdated and vague. As it is, it only addresses state actors leaving out private entities. Secondly, this gap leaves room for legal dilemma that may jeopardize the entire prospects of space commerce. This omnibus paper is divided into four parts. The first part will address the current will address the current framework of international space law. Part two will deal with commercial space activities i.e. space tourism, space mining, Intellectual property rights and space mining and energy ventures. Part three shall address the comparative study of the United States of America and how their domestic laws regulate commercial space ventures. The final chapter shall deal with the recommendations and solution on how to deal with these challenges.