2015
Midyear launches by select nations, 2014-2024
China led its global rivals with seven military launches, one more than the United States. China’s launches included fielding a new series of high-resolution spy satellites, according to state-controlled media.8 Russia and Japan each launched two military missions, while North Korea and Japan had a single mission each. The United States led the world in civil government space launches of the first half of the year, with a dozen launches.
Midyear launch trends, 2014-2024
Global launches through June 30 were up nearly 30% from 2023, easily eclipsing last year’s record 97 first half launches with 126. Launch failures also fell in the first half of 2024 despite the higher launch activity.
Private investments in space ventures in Europe, average between ESPI and dealroom values
While space remains institutionally driven for most of its segments, the role of private investors in Europe is of growing importance.
Estimated spending for NASA and U.S. defense, 2005-2025
The Pentagon made up more than a third of global defense spending, with $851 billion in 2024, including a record $30 billion for the Space Force.
Earth observation revenue, 2014-2023
Access Markets International estimates that the global Earth Observation sector generated $5.9 billion in revenue in 2023, up 8% over $5.4 billion in 2022.
Global space activity by category, 2005-2023
Commercial space revenues, which make up the majority of the space economy, grew 6.5% in 2023 to reach $445 billion. Government space spending increased by double digits for the third year in a row and reached a peak in the proportion of nations increasing their space budgets.
Global space economy steadily grows to $570 billion
The global space economy grew 7.4% to $570 billion in 2023, the second year of consistent growth based on revised 2021 and 2022 totals.
Satellites central to 2023’s record defense spending
Led by the United States with $835 billion in total defense spending, military budgets around the world grew to record levels in 2023 and appear on track for another record year in 2024, driven by increased tensions in Asia, the outbreak of war between Israel and militant groups, and the grinding conflict in Ukraine.
2024 launch pace easily exceeds 2023’s record midyear mark
Global launches through June 30 were up nearly 30% from 2023, easily eclipsing last year’s record 97 first half launches with 126. Launch failures also fell in the first half of 2024 despite the higher launch activity. The pace is expected to accelerate through the second half of 2024, with key launch vehicles set for first flights.
Commercial space revenues climb to $445 billion in 2023
Commercial space activity has grown rapidly in recent years, although definitions for this activity vary. For the purposes of this analysis, commercial space activity is defined to include products sold to private customers and efforts undertaken by private industry in which private actors take on a significant portion of the financial risk.