A new report reveals five actions that leaders can take to contribute to economic development, advance global security and sustainability, and make space a safe and globally accessible domain.

This report, a collaborative effort with the World Economic Forum, and informed by the views of approximately 100 industry leaders—describes potential scenarios for the future of space. It identifies five actions that could put the industry on the path to more positive outcomes, in which the full benefits of the space economy are realized.

Tanja Masson-Zwaan, Asst. Professor and Deputy Director of the International Institute of Air and Space Law, was involved in the realization of the report.

"The world is in a space renaissance," the report reads. "Expanding activity in space is beginning to outpace governance, technological progress is increasing accessibility, commercial funding is at an all-time high, and more nations and companies are clamoring to be part of the activity. Already space plays a role in advancing global sustainability and security priorities, but the potential is even greater. The future is in the balance, and all stakeholders have the capability to contribute to a more successful sector.

American aerospace giant Boeing is making a third attempt to reach the International Space Station Thursday in a critical uncrewed test flight for its Starliner capsule, which has been beset by numerous failures and false starts.

Lift-off for Orbital Test Flight 2 (OFT-2) is scheduled for 6:54 pm Eastern Time (2254 GMT) from the Kennedy Space Center in Florida, with the spaceship fixed atop a United Launch Alliance Atlas V rocket.