2024

Global Space Activity by Category, 2007-2027

Based on global economic factors, Space Foundation forecasts that growth will slow slightly in 2023 to 6% before picking up for an average five-year growth of 7%. Under these conditions, the space economy would total $772 billion in 2027. This forecast incorporates existing markets in the space economy and does not predict any future disruptive technologies that could have extraordinary growth over the coming years.Based on global economic factors, Space Foundation forecasts that growth will slow slightly in 2023 to 6% before picking up for an average five-year growth of 7%. Under these conditions, the space economy would total $772 billion in 2027. This forecast incorporates existing markets in the space economy and does not predict any future disruptive technologies that could have extraordinary growth over the coming years.

Based on global economic factors, Space Foundation forecasts that growth will slow slightly in 2023 to 6% before picking up for an average five-year growth of 7%. Under these conditions, the space economy would total $772 billion in 2027. This forecast incorporates existing markets in the space economy and does not predict any future disruptive technologies that could have extraordinary growth over the coming years.

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Government Space Spending Growth Slows to 8% in 2022

Government space spending in 2022 totaled nearly $119 billion, 8% higher than a revised total of $110 billion in 2021. Annual growth slowed significantly from the previous year, although 2021’s decade-high growth was primarily due to many nations rebounding from spending cuts in 2020 caused by the COVID-19 pandemic. Initial indications from enacted budget for 2023.Government space spending in 2022 totaled nearly $119 billion, 8% higher than a revised total of $110 billion in 2021. Annual growth slowed significantly from the previous year, although 2021’s decade-high growth was primarily due to many nations rebounding from spending cuts in 2020 caused by the COVID-19 pandemic. Initial indications from enacted budget for 2023.

Government space spending in 2022 totaled nearly $119 billion, 8% higher than a revised total of $110 billion in 2021. Annual growth slowed significantly from the previous year, although 2021’s decade-high growth was primarily due to many nations rebounding from spending cuts in 2020 caused by the COVID-19 pandemic. Initial indications from enacted budget for 2023.

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Global Space Activity by Category, 2005-2021

The global space economy continued to expand in 2021 to reach $469 billion. This record high also had the largest growth rate since 2014, growing 9% from a revised 2020 total of $431 billion.The global space economy continued to expand in 2021 to reach $469 billion. This record high also had the largest growth rate since 2014, growing 9% from a revised 2020 total of $431 billion.

For this year’s analysis, Space Foundation incorporated historical data and 2022 government spending to project the global space economy’s growth over the next five years. Using our methodology, we predict that the total could reach $639 billion by 2026. Our modeling takes a more conservative approach based on average growth of established sectors and does not factor in developing sectors such as lunar habitation or still exploratory concepts such as asteroid mining.

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