“New space”, characterised by new commercial players bringing cutting-edge business techniques and funding methods to space activities, has brought disruptive innovation and democratised access to space. But there also reasons for concern, as this has led to an intensified use of the orbital environment, creating more congestion and debris. Furthermore, the vitality of the “new space” ecosystem is under threat from economic shocks and market entrenchment. This G20 background paper examines the emergence of the “new space” ecosystem over the last 15 years, its impact on the space sector and society at large and the role of governments in ensuring sustained and sustainable growth of the sector. The paper provides a definition of “new space” activities to better target policy responses and suggests policy options to address these challenges.