By John Fernando Muñoz | 2026-07-24

To become a relevant player in the new space economy, Latin America must build a regional strategy based on clear rules, public investment, private sector partnerships and international cooperation, experts at a space symposium said.

And it must move beyond seeing itself solely as a user of space technology, experts from Colombia, Brazil and Mexico agreed during a July 20 International Moon Day panel in Bogotá on "Latin American Space Law and Future Pathways."

Organized by the National University of Colombia and Moon Village Association, the discussion centered on challenges the region faces in developing its own capabilities at a time when the space economy is becoming increasingly relevant.

For Colombian space strategy and technology consultant Iván Luna, the main obstacle Latin American space projects face has nothing to do with engineering.

"The challenges generally aren't technical in nature; they're legal, financial and commercial," said Luna, who had a hand in developing Colombia's first nanosatellite, Libertad 1.

According to Luna, many space sector projects fail to move forward because the region still lacks a sufficiently developed ecosystem to provide access to financing, investors and adequate regulatory frameworks.

"It's not that it can't be done; it has to be done," he said. "It's worth developing technological sovereignty and addressing the legal, commercial and financial aspects from the outset."

'Active state involvement'

The role of governments in the space sector, which touches on everything from telecommunications to Earth observation, disaster management, agriculture and security, was a recurring theme of the discussion.

Brazilian space sector entrepreneur Lucas Fonseca argued that no indigenous space industry can take hold without regulatory stability and active state involvement.

To get off the ground, a company needs "security, stability and opportunity," he said, adding that legal certainty is essential to attract long-term investors to a sector marked by high upfront costs and long development timelines.

Fonseca also called for greater coordination among governments, space agencies, universities and private companies to define shared national goals.

"You can't have the space agency doing one thing, universities doing another, and the armed forces doing yet another," he said.

"All the players need to move in the same direction."

The state should become an early customer by contracting services such as satellite imagery or weather forecasting, he said, creating demand that would allow companies to build expertise before competing in international markets.

Fonseca noted that Latin America accounts for a small fraction of the global space economy, meaning companies in the region need to design business models aimed at global clients from the start.

Regulation and sustainability

In addition to supporting private investment, a modern regulatory framework ensures the sector grows responsibly, according to Brazilian Space Agency representative Márcia Alvarenga.

"Space activity is complex, high-risk, and comes with technological, financial and geopolitical challenges," she said.

This is why rules must offer clarity on the rights, obligations and responsibilities of space operators, while incorporating standards to mitigate space debris and reduce the risk of orbital collisions.

"There's no contradiction between promoting private participation and ensuring responsible activity," Alvarenga said.

"The clearer, more transparent and more predictable the regulatory framework, the greater the capacity to attract investment."

Latin American countries need to develop space policies as state strategies, not just as projects tied to whichever government happens to be in office, Mexican space strategy specialist Fermín Romero suggested.

Space strategies should include a legal framework aligned with international law, infrastructure and technological innovation investment, training of specialized talent, and greater public, private and academic cooperation, he said.

To succeed in the global space economy, he added, Latin America should identify areas where it can build competitive advantages, rather than trying to replicate every capability held by the major space powers.

Potential niches include telecommunications technologies, bioengineering, space infrastructure and other high-value-added components, he said.

Need for regional cooperation

One of the sector's biggest challenges is convincing both the public and policymakers that space development can generate concrete economic and technological benefits.

"It needs to be understood that, from a private standpoint, it's good business, and from a strategic standpoint, it builds technological sovereignty," Luna said, noting that developing homegrown capabilities strengthens competitiveness and drives innovation.

The panelists agreed that regional cooperation will be essential for Latin America to play a meaningful role in the next phase of space exploration.

Alvarenga noted that the high costs and technological complexity of future missions make it difficult for Latin American countries to act alone.

She proposed strengthening collaboration to avoid duplicating resources and to present common positions in the major international forums where the rules governing future space activities are being debated.

Romero agreed that the region should act as a bloc and pursue coordinated space diplomacy that would allow it to carry greater weight in discussions on governance, regulation and the commercial development of space.

The space economy presents an opportunity for Latin America to strengthen its scientific, technological and industrial capacity, the panelists agreed.

But they stressed that reaching that goal will depend less on the ability to build rockets than on creating solid institutions, stable rules and a shared long-term vision that can turn the region's potential into concrete projects.