This article introduces the concept of the Space Value Chain (SVC) to analyze the rapidly evolving dynamics of the global Space economy. Drawing upon theories of global commons, value chains, and international business, it defines SVC as a network of interconnected actors, activities, and resources involved in the exploration, commercialization, and utilization of (outer) Space. The study examines SVC's unique physical, institutional, and operational attributes and addresses critical challenges, including congestion, contention, and competition in Space. The article highlights the interplay between upstream and downstream activities through case studies and regional analyses, showcasing how firms and governments are navigating the institutional vacuum and leveraging Space-related technologies. Emphasizing sustainability and the role of circular economy principles, the article underscores the need for refined theoretical frameworks and international collaboration to manage the Space economy's multifaceted opportunities and risks. The study calls to advance international business and management research to address these complex developments and their global implications.
