I would assume they would add additional pages to the vault, as it works with your friends list and currently players list.
Another possibility is that they could split the vault into three different vaults. One for inventory items, one for weapons, and one for armor.
EDIT:
Many thanks for all the replies and opinions!
Can we make it to the trending page??
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i think they need to be more creative with this. everyone gets additional slots, but you can also earn more based on the ship you have. i envision my titan similar to the predator (you know, the movie predator)... i want to open a door and walk into a weapons room with weapons on the wall and i just pick and choose what i want before going into battle. i want a trophy room where my armor can be placed on mannequins, etc.