2011


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.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.

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.

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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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Launch Attempts and Deployed Payloads, 1983-2022

Two items stand out as primary examples of astronomers’ concerns: the SpaceX Starlink constellation due to its number of satellites and AST SpaceMobile’s BlueWalker 3 satellite due to its size — 693 square feet6 — which ranks as the largest commercial communications array in space.

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