Failure to effectively address the current space debris challenge could cost the space industry up to $42.3bn over the next decade, according to a World Economic Forum (WEF) report.

The report, a collaboration between WEF and the Saudi Arabia Centre for Space Futures, calls for coordinated global action to tackle space debris and keep Earth’s orbit safe and sustainable.

Humanity is increasingly reliant on satellites to power GPS, weather forecasting and emergency communications. With more than 8,000 satellites already orbiting Earth and thousands more planned, the report warns that this critical orbital infrastructure is at growing risk of collision with space debris.

Space debris is the result of the accumulation of defunct satellites, rocket parts and other human-made objects. It is estimated that 140 million pieces of space debris smaller than 1cm, and over 54,000 tracked objects larger than 10cm, are in low-Earth orbit (LEO).

If left unchecked, the accumulation of space debris could reach a point where it becomes too hazardous for spacecraft to operate in certain orbits, or even leave Earth.

Indeed, in 2024, a defunct Russian satellite broke up into nearly 200 pieces in LEO, forcing astronauts on board the International Space Station to seek shelter in their spacecraft. 

The report brings physical modelling together with economic valuations to provide a data-driven forecast of the economic impact if nothing is done. Using a “novel orbital population model”, it projects that space debris could cost the space industry between $25.8bn and $42.3bn over the next decade.

But this is just a conservative baseline – the report warns that a single major collision could drive costs far higher. These costs include damaged or destroyed satellites, collision-avoidance manoeuvres, higher insurance and operational expenses, and potential interruptions to services such as GPS, communications and Earth observation.

The report finds that collision risk is concentrated in a small number of highly congested orbital bands, with the most debris-dense zone facing up to a 29% probability of a major collision by 2032.

It warns that no single action can solve the space debris problem, and urges a shift from reactive approaches to a proactive strategy that combines prevention, economic incentives and international cooperation among all space actors.

Hazuki Mori, lead of planetary solutions impact at the Centre for Frontier Technologies and Innovation at WEF, said: “The report frames space debris as a shared economic risk with a distributed economic burden and makes clear that doing nothing is not a neutral option – it simply embeds rising costs into the systems that societies increasingly depend on.” 

Mishaal Ashemimry, managing director of Centre for Space Futures and report co-author, said: “Ensuring that the benefits of space remain accessible, reliable and sustainable for all is not only a technical imperative but a shared global responsibility. We invite the community to share their perspectives and feedback as we continue to shape collective solutions for a safer, more sustainable orbital environment.”

In July 2025, the UK Space Agency started a £75.6m tender process to launch the first UK mission to tackle space debris. 

And in October 2025, a United Airlines flight faced a mid-air collision with a falling object that was speculated to be a piece of falling space junk.