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The economic impact of space weather: where do we stand?

Source(s):  Wiley

This research provides an initial literature review to gather and assess the quality of any published assessments of space weather impacts and socioeconomic studies. Although space weather is now a widely recognized risk, its economic impact remains quite uncertain.

The literature on documented impacts is not extensive, with many case studies but few statistical studies. The literature on the economic impacts of space weather is rather sparse and not as well developed, probably due to the somewhat limited data that is available from end-users. 

The major risk of these events is attached to power distribution systems and there is disagreement as to the severity of the technological footprint. This strongly controls the economic impact. Since exposure to space weather risk is only likely to increase, urgent efforts are required to better quantify the risk of future space weather events.

Risk Analysis, Volume 37, Issue 2, February 2017. This document shared under a Creative Commons License (CC BY-NC 4.0).

  • The economic impact of space weather: where do we stand?
  • Publication date 2017
  • Author(s) J. P. Eastwood; E. Biffis; M. A. Hapgood; L. Green; M. M. Bisi; R. D. Bentley; R. Wicks; L.-A. McKinnell; M. Gibbs; C. Burnett
  • Number of pages pp. 206-218

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