Abstract: The legal framework for outer space governance, centered on the “Five Major Treaties”, is facing significant challenges. In the face of numerous variables that will shape the future order of outer space, an intrinsic demand for transformation has emerged within the governance of outer space. Under the leadership of the new wave of space technology revolutions and commercial innovations, outer space governance will undergo a profound transformation. New theories in space law will emerge, engage in long-term competition, and ultimately contribute to the formation of a completely new governance structure.

Key words: outer space governance, transformation trends, commercial space, public rights in extraterrestrial activities