Global space activity by category, 2007-2027

Global space activity by category, 2007-2027Global space activity by category, 2007-2027

The global space economy totaled $546 billion in 2022, 8% higher than 2021 — and it could reach $772 billion by 2027, according to Space Foundation analysis. Commercial space continues to make up the majority (78%) of this total, but preliminary data shows that 81% of governments with space programs increased spending in 2023.

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Space insurance industry estimates, 2003-2022

Space insurance industry estimates, 2003-2022Space insurance industry estimates, 2003-2022

As satellites get smaller and cheaper and companies pivot to building LEO constellations rather than purchasing single large satellites for GEO orbit, many operators are foregoing insurance after launch altogether.

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