2023
Government space budgets grow 11% to reach new heights
International government space budgets reached new heights in 2023 with $125 billion spent on space programs, 11% higher than a revised 2022 total of $113 billion.
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.
NASA goes full throttle for Artemis, cuts other programs
Faced with a budget capped at 2023 levels, NASA is striving to save its lunar ambitions, laying off employees and cutting programs in favor of the Moon. It is a pivot for the agency, which had warned budget cuts contemplated by Congress in 2023 could endanger Artemis.
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.
2024 launch pace easily exceeds 2023’s record midyear mark
Global launches through June 30 were up nearly 30% from 2023, easily eclipsing last year’s record 97 first half launches with 126. Launch failures also fell in the first half of 2024 despite the higher launch activity. The pace is expected to accelerate through the second half of 2024, with key launch vehicles set for first flights.
Commercial space revenues climb to $445 billion in 2023
Commercial space activity has grown rapidly in recent years, although definitions for this activity vary. For the purposes of this analysis, commercial space activity is defined to include products sold to private customers and efforts undertaken by private industry in which private actors take on a significant portion of the financial risk.
NASA cancels VIPER Moon rover amid budget concerns
After $450 million and six years of work, NASA will not be exploring lunar ice with its new rover. The Volatiles Investigating Polar Exploration Rover (VIPER) is already built, and the rocket is still scheduled to launch next year, but the rover will remain on Earth.
Ariane 6, Europe’s long-awaited launch vehicle, makes maiden flight
Ariane 6, the launch vehicle designed to ensure the European Space Agency’s access to orbit, flew from French Guiana on Tuesday, ending four years of delays with triumph.
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.