Subject. “Grand challenges” are traditionally taken into account for the formation of science and technology and innovative State policies of countries. One of the most important challenges is the need for effective development and use of space, including the strengthening of Russia's positions in the field of economic, scientific and military development of outer space and airspace. Objectives. The aim of the study is to highlight key trends in the scientific and technological development of the space industry. Methods. Using econometric methods and our own approach, we analyzed various aspects of the space market, identified the most effective approaches to assessing its segments, and determinants of its development. The study rests on logical and systems approaches, methods of grouping, comparison, generalization, analysis and synthesis. Results. We formulated the subject and highlighted conditions for the emergence of grand challenges in the rocket-and space area. Based on the analysis of the state of the industry, we underlined trends and laws of its development. The study proves that non-compliance with these laws and principles is fraught with halting growth prospects of the industry. Conclusions. The paper offers an enlarged structure of the space market enabling to consider relationships between segments and highlight the most promising ones; reviews the main trends in the global space market and the space segment.
Keywords: space market, space industry, rocket and space equipment market, commercialization, diversification
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