Space Foundation Releases ‘The Space Report 2021 Q2’ Detailing Growth of 4.4% Over 2019 Revised Total — 55% Higher Than a Decade Ago
Commercial space grew 6.6% in 2020, representing nearly 80% of space economy US, China and ESA remain top three investors in global space economy US military space spending increased 6.1% in 2020, reaching new height of $26.6B
COLORADO SPRINGS, Colo., July 15, 2021 — Space Foundation , a nonprofit advocate organization founded in 1983 for the global space ecosystem, today released “ The Space Report 2021 Q2 ,” which examines global space economy growth and trends in 2020, the continuing growth of commercial space activity, notable shifts in the global space economy, and U.S. military space spending in 2020.
“The Space Report 2021 Q2” found that in 2020, the global space economy rose to $447 billion, an increase of 4.4% from a revised 2019 total of $428 billion. This $447 billion space economy is 55% higher than a decade ago and part of a five-year trend of uninterrupted growth. Commercial space activity grew 6.6% to nearly $357 billion in 2020, still representing close to 80% of the total space economy. Global government space spending fell 1.2% in 2020 to $90.2 billion from a revised 2019 peak of $91.4 billion. Nearly 58% of this total was allocated to space activities by the U.S.