2012
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.
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 . . .
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.
Cumulative human spaceflight, 1961–March 18, 2024
Human spaceflight activity is off to a rapid pace in 2024 with a private Axiom mission, a public ISS mission, and a private Virgin Galactic mission taking flight in the first nine weeks of the year.
NASA share of U.S. federal budget, 1959-2025
The overall Pentagon budget proposal for 2025 is $850 billion, $8 billion more than its 2024 request.
Satellites lost by launch operator country and type, 2003-2023
Despite the rising number of lost payloads, satellite operators are getting better at mitigating the harm done to their mission by a launch failure.