A panacea to address the legal, administrative and economic aspects of space debris

Abstract

There is no doubt that space matters in today’s time. We have become highly reliant on space science and technology; life without it cannot be imagined. No one can deny the significance of space safety. Thus, for the smooth functioning of life, there is a need for safety and security in outer space. So, it would not be wrong to say that we are at the mercy of these new space technologies. Currently, space debris has been facing universal embryonic challenge to the sustainable activities of outer space, and if not coped at the earliest, the world would face titanic catastrophe. From the preceding decades, there have been some crashing episodes that heightened the space debris build-up, and the speed at which myriad space activities have caused the production of debris. Such huge congregation of debris can pose dangers to the working space satellites. It could also fetch numerous challenges at the same time. In addition, the tremendous development in space technology, involvement of private sector in space activities, Anti Satellite tests adventure of space powers, weaponization and commercialization (space tourism) has made outer space more vulnerable. Presently, there is a dearth of stringent space laws with regards to the proliferation of space debris. So, these issues can have an impact on the long-term sustainability of space activities. Progressing and advanced space faring nations have found the worth of a proficient International Regime that can play a vital role for ordering, overseeing, and managing the research and advancement of space. The paper will magnet the attention towards the real legal, technical, financial and managerial facts. Some countries are capable of removing space debris but encounter many obstacles while applying such actions. Besides who will bear the expense for the removal of space debris as its prerequisites giant sum of money. This paper is going to put forward an independent international space regime (ISR). In order to meet the financial issues this paper proposed to establish a Global Debris Removal Fund. The old-fashioned space law regime is the core obstruction for the debris removal procedure. Finally, it is desirable that all legal issues be fixed through the innovative procedures and reformed international space law (ISL) system with inclusive coordination and co-operation. Thus, it would be the perfect ISR for the resolutions of remediation and mitigation of space debris.