2022
Global 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.
As launch failures grow, satellite operators are more resilient to risk
Increasing annual launches and new players in the launch market have led to several notable payload delivery failures over the past few years.
U.S. Private Sector Space Employment Shows Steady Growth
Monitoring trends in this workforce across private, civil, and national security sectors and examining changes in wages and location of employment provides insight into broader space industry dynamics.
SNAPSHOT: Global space economy
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.
Launch failures by number of satellites lost, 2003-2023
In 2023, launch failures resulted in the loss of 31 satellites, an increase of 48% from 2022.
Cumulative spacecraft on orbit, 1957-2023
Federal agencies in 2014 estimated by 2022 as many as 43 commercial satellites a year would head to orbit. Instead, more than 50 times . . .
NASA Civil Servant Workforce, FY 2013-2023
NASA employed approximately 18,372 employees in 2023. This is an increase of 3.1% over employment in 2022.
Space 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.
U.S. space private industry employment, 2012-2023
Some experts in the space sector worry that high inflation may put significant pressure on aerospace firms as the cost of materials increases rapidly.
January, February launches 2022-2024
The first two months of 2024 saw an incredible pace of launches. The record set in 2023 could topple if two players alone make their goals.