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Illustration: Aïda Amer/Axios

Companies are trying to capitalize on the threat of space junk with new technology to clean it up, but it's not clear who will pay for the service.

Why it matters: Today, thousands of pieces of space junk — ranging from tiny fragments of destroyed satellites to spent rocket bodies and defunct spacecraft — orbit around Earth, threatening operational satellites and astronauts.

  • As thousands of new satellites are slated for launch in the coming years, operators are desperate to find ways to track, remove and prevent the creation of more rogue debris in orbit.
  • The market for in-orbit satellite services is projected to reach about $4.5 billion by 2028, according to Northern Sky Research.

Driving the news: The European Space Agency recently signed a contract with ClearSpace to remove a piece of a rocket left in orbit on a mission launching in 2025.

  • Astroscale is designing a method to pull junk from space. It plans to launch a test mission in 2020.
  • Northrop Grumman launched a vehicle in October on a journey to link up with a satellite that's low on fuel to help keep it functioning in orbit past its expected end date.
  • Satellite internet company OneWeb is planning to affix grappling tech made by Altius Space Machines to its small satellites in low-Earth orbit to make it easier for them to be deorbited should they fail.

The catch: Experts agree space junk is a major threat to keeping space usable and open for nations and companies around the world, but it's not clear who is or should be responsible for cleaning it up, complicating the business case for these companies.

  • "There is no agreement as to who pays for debris removal," Victoria Samson, of the Secure World Foundation, told Axios. "You could argue that space being a public good, it should be the government that pays for it."
  • Some companies are also banking on the idea that Amazon, SpaceX, OneWeb and others will succeed in launching thousands of new satellites and have the forethought to want to deorbit any failed satellites quickly.

Yes, but: There are also major technical challenges around building and launching any of these new systems.

  • Linking up with a dead satellite in orbit will be a risky procedure that needs to be exact in order to make sure the system doesn't create more debris in the process.

Go deeper: Yes, there really is a lot of space junk

Go deeper

Updated 12 mins ago - Politics & Policy

3 killed, 2 wounded overnight in Kenosha bar shooting

Three people died and two others were hospitalized with serious injuries after a gunman entered bar in Kenosha County, Wisconsin, the police department said in a statement on Sunday.

The latest: Officers arrested a "person of interest" Sunday afternoon in connection with the 12:42 a.m. shooting and there's "no threat to the community at this time," per a later police statement.

Updated 50 mins ago - Sports

Big European soccer teams announce breakaway league

Liverpool's Mohamed Salah (L) after striking the ball during the UEFA Champions League Quarter Final Second Leg match between Liverpool F.C. and Real Madrid at Anfield in Liverpool, England, last Wednesday. Photo: John Powell/Liverpool FC via Getty Images

12 of world soccer's biggest and richest clubs announced Sunday they've formed a breakaway European "Super League" — with clubs Manchester United, Liverpool, Barcelona Real Madrid, Juventus and A.C. Milan among those to sign up.

Why it matters: The prime ministers of the U.K. and Italy are among those to express concern at the move — which marks a massive overhaul of the sport's structure and finances, and it effectively ends the decades-old UEFA Champions League's run as the top tournament for European soccer.

4 hours ago - Politics & Policy

Senate Democrats settling on 25% corporate tax rate

Sen. Joe Manchin (D-W.Va.). Photo: Chip Somodevilla/Getty Images

The universe of Democratic senators concerned about raising the corporate tax rate to 28% is broader than Sen. Joe Manchin, and the rate will likely land at 25%, parties close to the discussion tell Axios.

Why it matters: While increasing the rate from 21% to 25% would raise about $600 billion over 15 years, it would leave President Biden well short of paying for his proposed $2.25 trillion, eight-year infrastructure package.