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Defining Innovatisation: The Case of NewSpace and the Changing Space Sector
The space sector has become far more dynamic and innovative, with new actors (e.g., start-ups, venture capital) entering and the ever-growing importance of private firms. In this paper we introduce a novel concept, innovatisation, to understand this phenomenon. Innovatisation describes the transformation of a sector between two modes. In a mode of technological achievements (TA), only technological (not economic) performance matters, primarily for prestige purposes; in innovation, customer preferences, commercial opportunities, and costs become essential. Studying the economics of Apollo and the commercialization attempts of the 1980s, we show how the space sector has long featured a logic of TA. Then, analyzing recent trends, we provide quantitative empirical evidence (e.g., costs) that innovation now shapes the sector, thanks to various driving forces. The driving forces behind the innovatisation process are identified building on Jones (2022) and the disruptive innovation theory.
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