RISE is first in-orbit servicing mission of European Space Agency which is a significant step towards refuelling, refurbishment, and assembling in orbit - all essential elements for creating a circular economy in space.  

• It will be launched in 2028 and will have the ability to dock and control orbit of geostationary satellites. 
• RISE will rise up to the so-called geostationary graveyard, about 100 km higher, where satellites are ‘parked’ after they have reached the end of their mission. 

Circular Space Economy 

• Circular space economy draws inspiration from the broader concept of a circular economy, which aims to minimize waste and maximize resource efficiency. 
• Key aspects of circular space economy include satellite refurbishment & repair, space debris removal, resource utilization (materials extracted from asteroids or the Moon), etc. 

Significance of Space Circular Economy

• Reduced Space debris helps to mitigate the risk of collisions and further debris generation.
• Resource Conservation due to reusing and recycling materials in space. 
• Cost Reduction by extending lifespan of satellites.
• Faster development times by assembling and manufacturing space systems directly in orbit. 

Challenges to Space Circular Economy

• Technological limitations: Developing necessary technologies for in-orbit servicing, recycling, and asteroid mining.
• Funding: Developing specialized equipment, conducting R&D etc. require significant investment.
• Regulatory Challenges: Establishing global standards & regulations for space sustainability.