Economy
The global space economy reached a new high of $570 billion in 2023, an increase of 7.4% from a revised 2022 figure of $531 billion. The 2023 figure is 96% greater than a decade ago, and 223% greater than Space Foundation’s first analysis of the 2005 global space economy. As in 2022, nearly 80% of this year’s space spending stemmed from commercial revenue, which is divided into two sectors: Space Products and Services, and Infrastructure and Support Industries. For the annual analysis of government space spending, Space Foundation reviewed civil government and military spending of 54 governments or cooperative bodies worldwide, relying on publicly disclosed budgets, estimates based on gross domestic product, and, in some cases, correspondence with government officials. Articles in this section feature quarterly analysis of market activity, merger and acquisitions, and government and commercial spending and revenue.
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Government space budgets grow 11% to reach new heights
International government space budgets reached new heights in 2023 with…
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Read ArticleGlobal space economy steadily grows to $570 billion
The global space economy grew 7.4% to $570 billion in…
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European space activities are growing across public and private sectors…
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Commercial space activity has grown rapidly in recent years, although…
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