Billionaires, scientists and start-ups are all trying to get in on the action.
And it's not all about sending rockets and satellites into space. Space-enabled technologies are informing climate forecasting and disaster planning, as well as playing a role in logistics, defence and food security.
State funded and private investment has reach an all time high.
We head to the IAC in Milan to meet some of the industry experts leading the charge.
Produced and presented by Ru Abbass
Image: An illustration of Haven 2, the proposed successor to the International Space Station. Image courtesy of Vast)