Report: Space economy breaks record, reaches $469 billion
1Report: Space economy breaks record, reaches $469 billion
A new report on the space economy has been published in the USA. According to the report by the Space Foundation, the global space economy reached $469 billion last year, achieving its biggest annual growth since 2014.
In recent years, a new report has been published on the economic dimension of space technologies that are developing day by day.
The global space economy hit a record $469 billion last year, experiencing its biggest annual growth since 2014, according to a report by the Space Foundation.
The report said that the total production of world governments and companies in rockets, satellites and other space technologies increased by 9 percent year on year.
PROJECTED TO CONTINUE GROWTH IN 2022
While there is a slowdown in global markets and economy, especially in the USA, in 2022, Space Foundation CEO Tom Zelibor said that the space economy is expected to weather the storm and continue to grow this year.
Zelibor said, "Maybe this will not be a record-breaking number, but the space industry has really shown that it is quite durable," and drew attention to the growth of the industry in markets dominated by the Covid pandemic.
In the first six months of 2022, 75 rockets were launched worldwide.
Zelibor acknowledged that financial activities in the space economy, such as M&A and private investment, saw a slowdown in 2022, while government and business spending remained strong.
MORE THAN 90 COUNTRIES OPERATE IN THE SPACE
Stating that government expenditures continue to increase, Zelibor emphasized that "currently there are more than 90 countries operating in space".
The United States remains the country that spends almost four times that of China, which ranks second with a total space budget of $60 billion.
75 ROCKETS LAUNCHED IN THE FIRST SIX MONTHS OF 2022
Emphasizing that 75 rockets were launched around the world in the first six months of 2022 and the record speed set by the USA and the Soviet Union during the race to the moon in 1967, Zelibor said, "This situation is extraordinary."
Nearly 90 percent of the more than a thousand spacecraft launched this year are powered by the hundreds of Starlink internet satellites launched by commercial firms, specifically Elon Musk's SpaceX, the report said.