Economy

The global space economy reached a new high of nearly $447 billion in 2020, an increase of 4.4% from a revised 2019 figure of $428 billion. The 2020 figure is 55% greater than a decade ago, and 176% greater than Space Foundation’s first such analysis of the 2005 global space economy. As in 2019, nearly 80% of this year’s space spending stemmed from commercial revenue, which is divided into two sectors: 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 36 governments or cooperative bodies worldwide, relying on publicly disclosed budgets, media reports, 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.