Star (Industrial) War : Toward a risk of Creeping Take Over in the Global Space Industry

Rapp, Lucien (2016) Star (Industrial) War : Toward a risk of Creeping Take Over in the Global Space Industry. In: Fourth Manfred Lachs International Conference on Conflicts in Space and the Rule of Law, 27 et 28 Mai 2016, Montréal.

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Abstract

This paper analyzes the development of industrial cooperation in space
activities since the end of World War II. It highlights a gradual emancipation of
space companies’ industrial cooperation and strategies from governmental
programs (II). In the recent years, this emancipation results in the proliferation of
numerous Joint Venture agreements (III) and in a significant number of mergers
and/or acquisitions exceeding $ 500 million (IV). These transactions or JVs have
caused a consolidation trend in the space industry, now structured differently
around subcontractors of first, second and sometimes, third tiers ; space
subcontractors whose business generates financing needs that exceed their cash
resources and of which the increasing number calls for industry consolidation (V).
These financing requirements and the need for consolidation could be a factor of
vulnerability of space industry in a speculative context where the space industry
combines numerous factors of attractiveness for investors (companies, funds) (VI),
raising the crucial question of the effectiveness of the control systems implemented
by states in the field of concentrations, foreign investment or exports of dual-use
technologies (VII). A conclusion brings some recommendations that can be made in
such a context (VIII).

Item Type: Conference or Workshop Item (Paper)
Language: English
Date: 2016
Uncontrolled Keywords: Industry, Space, Take-over, Foreign Investment Regime, Export Control
Subjects: A- DROIT
Divisions: Institut du Droit de l'Espace, des Territoires, de la Culture et de la Communication (Toulouse)
Site: UT1
Date Deposited: 12 Apr 2017 15:05
Last Modified: 18 Oct 2017 15:11
URI: http://publications.ut-capitole.fr/id/eprint/23704

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