Space Economy: Italy to introduce Space Law by 2024

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By the year 2024, the International Astronautical Congress held in Milan, Italy will introduce a space law. Adolfo Urso, Minister for Enterprise and Made in Italy, confirmed this while emphasising the strategic value of the space industry for our nation.

In reality, space is a crucial element for the economic growth of the entire country and consequently affects various fields, including defence, and not exclusively space exploration. Furthermore, Italy possesses a significant space industry comprised of big corporations, small to medium enterprises, and start-up companies, which significantly contribute to the sector. Approximately 200 space companies, employing around 7,000 staff, generate a revenue of approximately £1.7 billion.

Italy requires regulatory support to stimulate the industry beyond the current stage and ensure continued investments. “We plan to add space regulations to the next finance law, connecting it to the Budget Law, just like we did last year with the connection to Made in Italy and the reform of incentives,” says Urso, anticipating the forthcoming action. But how will this occur? “We plan to introduce the space law as a link.

Subsequently, the Council of Ministers can present it to Parliament in the following weeks. This way, we can have a complete view by 2024,” replied the minister.The goal is for Parliament to approve in time for the 75th IAC, which will happen in Milan. This is a big chance for the whole Italian aerospace industry, and MIPRONS will be there. They will also take part in the 2023 edition, happening in Baku from October 2nd to 6th.