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Global Space Economy Hits $546B Despite 2022’s Economic Turmoil

European Space Agency’s Plato satellite was subjected to as much as 156 decibels of sound at the agency’s Large European Acoustic Facility. The crushing noise is designed to simulate the sound satellites face upon launch. Space science missions such as Plato are seeing funding growth. Credit: ESA

Last year was a tumultuous time for the global economy. High inflation, fluctuating exchange rates, and constricting markets caused trouble across most industries, and space was no exception. The global space economy totaled $546 billion in 2022, 8% higher than the previous year, according to Space Foundation analysis. Government and commercial spending cooled year-over-year, but 2022 still exceeded the five-year growth average.

Led by U.S., China, Pace of Launch Maintains Record Levels in First Half of 2023

A rapid launch pace by the United States and China led to a mid-year launch record in 2023, with 97 launches worldwide. <sup class="modern-footnotes-footnote " data-mfn="1" data-mfn-post-scope="000000000000171a0000000000000000_13619"><a href="javascript:void(0)" role="button" aria-pressed="false" aria-describedby="mfn-content-000000000000171a0000000000000000_13619-1">1</a></sup><span id="mfn-content-000000000000171a0000000000000000_13619-1" role="tooltip" class="modern-footnotes-footnote__note" tabindex="0" data-mfn="1"> Space Foundation Launch Database. Accessed July 3, 2023. </span> The record launch pace came with a share of failures. Six launch vehicles failed to make it to space.

A rapid launch pace by the United States and China led to a mid-year launch record in 2023, with 97 launches worldwide. ² The record launch pace came with a share of failures. Six launch vehicles failed to make it to space.

Satellite constellations weave growing global search and rescue safety net

Satellites have played a pivotal role in search and rescue efforts for more than 40 years. Visionaries from around the world applied space technology to search and rescue efforts on Earth and built an enduring global humanitarian program. Satellite tracking has saved more than 57,000 people worldwide, since the system’s first rescue in 1982. With new equipment in the marketplace, its role keeps growing.

Government Space Spending Growth Slows to 8% in 2022

Government space spending in 2022 totaled nearly $119 billion, 8% higher than a revised total of $110 billion in 2021. Annual growth slowed significantly from the previous year, although 2021’s decade-high growth was primarily due to many nations rebounding from spending cuts in 2020 caused by the COVID-19 pandemic. Initial indications from enacted budget for 2023.

Congressional Battles Rattle Space Budgets, With NASA Facing Deepest Cuts

Government space budgets appeared poised for large increases in March as a new Congress expressed zeal for exploration and national security space programs. By July, jeopardy loomed, with deep cuts in domestic spending that threaten NASA spending in the House and an automatic cut that could drive down the Pentagon budget on tap if lawmakers can’t reach a timely accord.

Euclid joins James Webb Space Telescope to probe the universe’s earliest unknowns

Well before the Euclid telescope was on its way to join the James Webb Space Telescope nearly a million miles from Earth, engineers and scientists were deep into planning how the advancements and knowledge gained from Euclid and Webb will aid in building even more advanced telescopes to probe the next unknowns in the universe. The work is redefining science and delivering new technology for wider use on Earth.

ESA scientists: diamonds in the sky could signal early Supernova

There may be diamonds in the sky. The James Webb Space Telescope’s spectrometry gear identified carbon molecules in dust that formed during the universe’s infancy, but debate rages over just what they could be, the European Space Agency said in July.

How artificial intelligence in space will play key roles for the US Space Force

Artificial Intelligence (AI) will play key roles for the military, from helping humans parse through oceans of Earth observation data to maneuvering satellites as constellations grow ever larger, Space Force Lt. Gen. John Shaw predicted during an online discussion with America’s Future Series.

Celebrating 60 years of women in space

June 16 marks the 60th anniversary of Valentina Tereshkova’s historic launch to orbit, where she became the first woman to reach space. She orbited Earth 48 times during the three-day Vostok 6 mission.

In 22nd Launch of 2023, China lofts national record of 26 satellites to orbit

China on June 7 lofted a national record of 26 satellites to orbit in a single launch atop its Lijian-1 launch vehicle, a solid-fueled rocket developed for commercial use by the Chinese Academy of Science.