BEA has developed a preliminary set of statistics measuring the contributions of space-related industries to the overall U.S. economy.These estimates give business leaders, policymakers, and the public a new tool to analyze the space economy and to inform investment decisions.Preliminary estimates of the U.S. space economy's GDP, gross output, private employment, and private compensation by industry were published in the December 2020 Survey of Current Business.
In 2023, the turnover of the global space economy was approximately *** billion U.S. dollars, an increase from *** billion U.S. dollars in the previous year. The most important sector in the global space economy in that year was the commercial space products and services, accounting for almost ** percent of the total turnover.
In 2023, the market size of the global space economy amounted to 630 billion U.S. dollars. The space industry was forecast to grow even further and reach approximately 1.8 trillion U.S. dollars in 2035.
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Graph and download economic data for Government current expenditures: Federal: Economic affairs: Space (G160631A027NBEA) from 1959 to 2023 about outer space, economic affairs, expenditures, federal, government, GDP, and USA.
This statistic depicts the revenue of the global space economy from 2015 to 2040, broken down by segment. It is estimated that by 2040, revenue from ground equipment in the global space economy will generate just over 196 billion U.S. dollars.
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Graph and download economic data for Government consumption expenditures and gross investment: Federal: Economic affairs: Space (W631RG3A086NBEA) from 1959 to 2023 about outer space, economic affairs, investment, gross, federal, consumption expenditures, consumption, government, GDP, and USA.
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United States US: Space Programmes: % of Civil GBARD data was reported at 15.137 % in 2024. This records an increase from the previous number of 14.801 % for 2023. United States US: Space Programmes: % of Civil GBARD data is updated yearly, averaging 17.726 % from Dec 1981 (Median) to 2024, with 44 observations. The data reached an all-time high of 25.102 % in 1996 and a record low of 11.389 % in 2009. United States US: Space Programmes: % of Civil GBARD data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s United States – Table US.OECD.MSTI: Government Budgets for Research and Development: OECD Member: Annual.
For the United States, from 2021 onwards, changes to the US BERD survey questionnaire allowed for more exhaustive identification of acquisition costs for ‘identifiable intangible assets’ used for R&D. This has resulted in a substantial increase in reported R&D capital expenditure within BERD. In the business sector, the funds from the rest of the world previously included in the business-financed BERD, are available separately from 2008. From 2006 onwards, GOVERD includes state government intramural performance (most of which being financed by the federal government and state government own funds). From 2016 onwards, PNPERD data are based on a new R&D performer survey. In the higher education sector all fields of SSH are included from 2003 onwards.
Following a survey of federally-funded research and development centers (FFRDCs) in 2005, it was concluded that FFRDC R&D belongs in the government sector - rather than the sector of the FFRDC administrator, as had been reported in the past. R&D expenditures by FFRDCs were reclassified from the other three R&D performing sectors to the Government sector; previously published data were revised accordingly. Between 2003 and 2004, the method used to classify data by industry has been revised. This particularly affects the ISIC category “wholesale trade” and consequently the BERD for total services.
U.S. R&D data are generally comparable, but there are some areas of underestimation:
Breakdown by type of R&D (basic research, applied research, etc.) was also revised back to 1998 in the business enterprise and higher education sectors due to improved estimation procedures.
The methodology for estimating researchers was changed as of 1985. In the Government, Higher Education and PNP sectors the data since then refer to employed doctoral scientists and engineers who report their primary work activity as research, development or the management of R&D, plus, for the Higher Education sector, the number of full-time equivalent graduate students with research assistantships averaging an estimated 50 % of their time engaged in R&D activities. As of 1985 researchers in the Government sector exclude military personnel. As of 1987, Higher education R&D personnel also include those who report their primary work activity as design.
Due to lack of official data for the different employment sectors, the total researchers figure is an OECD estimate up to 2019. Comprehensive reporting of R&D personnel statistics by the United States has resumed with records available since 2020, reflecting the addition of official figures for the number of researchers and total R&D personnel for the higher education sector and the Private non-profit sector; as well as the number of researchers for the government sector. The new data revise downwards previous OECD estimates as the OECD extrapolation methods drawing on historical US data, required to produce a consistent OECD aggregate, appear to have previously overestimated the growth in the number of researchers in the higher education sector.
Pre-production development is excluded from Defence GBARD (in accordance with the Frascati Manual) as of 2000. 2009 GBARD data also includes the one time incremental R&D funding legislated in the American Recovery and Reinvestment Act of 2009. Beginning with the 2000 GBARD data, budgets for capital expenditure – “R&D plant” in national terminology - are included. GBARD data for earlier years relate to budgets for current costs only.
In 2024, global government expenditure for space programs hit a record of approximately 135 billion U.S. dollars. The United States Government spent around 79.7 billion U.S. dollars on its space programs in than year, making it the country with the highest space expenditure in the world. The U.S. was followed by China, with government expenditure on space programs of over 19 billion U.S. dollars. The Space Agencies Responsible for civilian space programs, as well space research and exploration, the space agencies have gained in importance over the past decades. Today, there are six government space agencies (NASA, CNSA, ROSCOSMOS, ESA, ISRO, and JAXA) with full launch and extraterrestrial landing capabilities. The National Aeronautics and Space Administration (NASA) is undoubtedly the most renowned of them all. Since its establishment in 1958, NASA has worked with international partners to enable human expansion across the solar system and beyond, bringing new knowledge and opportunities back to our home planet. It is therefore not surprising that most of their budget goes to toward science and exploration. NASA’s requested FY 2024 budget for all sectors is 27.2 billion U.S. dollars.
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The U.S. Space Launch Services Market size was valued at USD 12.2 billion in 2023 and is projected to reach USD 27.5 billion by 2032, exhibiting a CAGR of 12.7 % during the forecast period. U.S. Space Launch Services include all aspects of sending payloads including satellites, instruments, and astronauts into space or other celestial bodies. The services offered include a variety of launch vehicles which include expendable launch vehicles (ELVs) and reusable launch vehicles (RLVs) such as SpaceX’s Falcon 9 and Blue Origin’s New Shepard. Some of the characteristics of the New Space economy include a high carrying capacity, reliability, and affordability driven by innovations in propulsion, materials, and reusability. It has been use in communication, Earth observation, scientific research, national and space security, and space tourism. The benefits of Space Launch Services are profound: they facilitate telecommunications worldwide, improve weather prediction, advance scientific research, and boost national defences. Recent developments include: In 2022, ULA launched the first Atlas V rocket with a reusable booster, marking a significant advancement in launch technology. In 2023, SpaceX successfully launched the Starship prototype, paving the way for future human missions to Mars. In 2024, Blue Origin plans to launch New Glenn, a heavy-lift launch vehicle for commercial and government missions.. Key drivers for this market are: Rising Demand for Satellite Communication Equipment Due to Growing Space Exploration Programs Will Aid Market Growth. Potential restraints include: High Cost Associated with Investment in Space Launch Services May Hamper Market Growth.
Global revenue from the space economy amounted to *** billion U.S. dollars in 2023, whereas commercial space products and services amounted to ***** billion U.S. dollars in that year.
Satellite Market Size 2024-2028
The satellite market size is forecast to increase by USD 14.53 billion at a CAGR of 3.31% between 2023 and 2028. The market is experiencing significant growth, driven by the increasing demand for DTH services and satellite-based telemetry applications. The number of DTH subscribers continues to rise, fueled by the availability of affordable satellite receivers. High-throughput satellites (HTS) are gaining popularity due to their ability to provide faster data transmission rates, making them ideal for IoT devices and other bandwidth-intensive applications. The high cost of satellite hardware and components remains a challenge, but innovations such as 3D-printed satellite parts are helping to reduce costs. OneWeb, among others, is leading the charge in this area, with plans to launch a constellation of low Earth orbit satellites to provide global connectivity. Overall, the market is poised for continued growth, driven by advancements in technology and increasing demand for reliable, high-speed connectivity.
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The market is witnessing significant growth due to the increasing demand for artificial satellites in various applications such as communication, earth observation, navigation, scientific research, and space exploration. These satellites are launched into different orbits, including Low Earth Orbit (LEO), Medium Earth Orbit (MEO), and Geostationary Earth Orbit (GEO), depending on their function. Communication is a major application segment in the market, driving the demand for satellite services, including satellite-based internet services and voice communications. Earth observation is another significant application area, with satellite imaging playing a crucial role in areas like agriculture, forestry, and disaster management. High-throughput satellites and mega constellations, such as Starlink satellites, are emerging trends in the market, aiming to bridge the digital divide by providing internet access to remote and underserved areas.
Furthermore, space exploration missions and satellite-based warfare are other key applications driving the growth of the market. Small satellites are gaining popularity due to their cost-effectiveness and ease of deployment. Satellite data transmission is another crucial aspect of the market, with space data being used for various applications, including television and video distribution, digital television, and internet access. The market is witnessing significant investments from satellite enterprises, communication service providers, and space-focused firms.
Market Segmentation
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD Billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
End-user
Civil
Defense
Type
Large
medium satellite
Small satellite
Geography
North America
US
Europe
France
APAC
China
Japan
Middle East and Africa
South America
By End-user Insights
The civil segment is estimated to witness significant growth during the forecast period. Satellites play a crucial role in driving economic growth for various sectors, including commercial enterprises, government agencies, and the telecommunications and space industries. These technological marvels come in different forms, determined by their frequency, orbit, and mission objectives. With the escalating demand for Internet services and the growing number of mobile users, satellites have found extensive applications in civilian domains, such as voice communications, satellite-based internet services, and meteorology. Manufacturers of GPS receivers cater to the needs of civilians, particularly scientists and surveyors, who rely on these devices for precise time and position measurements for research and surveying purposes. Additionally, satellites contribute significantly to civil aviation, ensuring optimal navigational services and flight information region (FIR) coverage.
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The civil segment was valued at USD 45.95 billion in 2018 and showed a gradual increase during the forecast period.
Regional Insights
North America is estimated to contribute 38% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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Satellite services play a crucial role in various applications, including satellite imaging, internet connectivity, and voice communications. North America is a significant market for these services, with the US, Canada, and Mexico being the primary consumers. The US, in particular, has a
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The mid-size satellite market, encompassing satellites with a weight range typically between 500kg and 1000kg, is experiencing robust growth, driven by increasing demand across diverse applications. The market's expansion is fueled by the escalating need for high-resolution Earth observation imagery for agriculture, urban planning, and environmental monitoring. Furthermore, advancements in miniaturization and cost reduction of satellite technology are making mid-size satellites a more attractive option for both commercial and government entities. The communication sector, with its reliance on reliable and efficient data transmission, represents a significant market segment. Navigation applications, including precise positioning and timing services, are also bolstering demand. While the initial investment can be substantial, the relatively lower launch costs and operational expenses compared to larger satellites make mid-size satellites a cost-effective solution for various missions. Competition in the market is intense, with established players like Airbus SE, Northrop Grumman, and Roscosmos competing with emerging space agencies and private companies, fostering innovation and driving down costs further. The market is segmented by application (communication, Earth observation, navigation, space observation), orbit class (GEO, LEO, MEO), end-user (commercial, military & government), and propulsion technology (electric, gas-based, liquid fuel). The geographical distribution of market share is spread across North America, Europe, Asia-Pacific, and other regions, with North America and Europe currently holding the largest share, followed by a rapidly growing Asia-Pacific market. This growth trajectory is anticipated to continue, propelled by ongoing technological advancements and a sustained increase in the demand for space-based services globally. The projected Compound Annual Growth Rate (CAGR) of 4.96% over the forecast period (2025-2033) indicates a steady and consistent expansion of the mid-size satellite market. Market segmentation analysis reveals significant opportunities across various applications, with a clear trend towards increased adoption of electric propulsion systems for their enhanced efficiency and cost-effectiveness. However, potential restraints include regulatory hurdles, the complexities of international space collaborations, and the ever-present risks associated with space launches. Nevertheless, the long-term outlook for the mid-size satellite market remains positive, driven by the continuous growth of the space economy, increasing demand for data and imagery from space, and ongoing technological innovation aimed at further reducing costs and improving performance. The market's future will be shaped by the ability of companies to successfully navigate regulatory complexities and deliver reliable and cost-effective solutions to a growing and diverse customer base. Comprehensive Coverage Mid-size Satellites Market Report (2019-2033) This comprehensive report provides an in-depth analysis of the global mid-size satellites market, offering valuable insights for businesses and investors seeking to understand this dynamic sector. The report covers the period from 2019 to 2033, with a base year of 2025 and a forecast period from 2025 to 2033. It delves into market size (in millions of units), key trends, growth drivers, and challenges, providing a complete picture of this burgeoning industry. Recent developments include: January 2023: The Northrop Grumman Corporation's ESPA (LDPE)-3A long-time propulsion spacecraft successfully launched in support of USSF-67. This spacecraft enhances rapid space access for the US Space Force and marks the third successful launch for the LDPE program.November 2022: India's Polar Satellite Launcher, on its 51st flight (PSLV-C49), successfully launched EOS-01. EOS-01 is an Earth observation satellite, intended for applications in agriculture, forestry and disaster management assistance.September 2022: China has successfully sent two BeiDou satellites (BDS) into space from the Xichang Satellite Launch Center. The new satellites and boosters were developed by the China Academy of Space Technology (CAST) and the China Academy of Launch Vehicle Technology, under the China Aerospace Science and Technology Corporation.. Notable trends are: OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT.
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United States Federal Govt Outlays: General Science, Space & Tech data was reported at 2.940 USD bn in Oct 2018. This records an increase from the previous number of 2.851 USD bn for Sep 2018. United States Federal Govt Outlays: General Science, Space & Tech data is updated monthly, averaging 1.905 USD bn from Apr 1992 (Median) to Oct 2018, with 319 observations. The data reached an all-time high of 3.473 USD bn in Oct 2008 and a record low of 0.390 USD bn in Nov 2008. United States Federal Govt Outlays: General Science, Space & Tech data remains active status in CEIC and is reported by Bureau of the Fiscal Service. The data is categorized under Global Database’s United States – Table US.F001: Federal Government Receipts & Outlays.
The market size of the global space economy in 2023 was 630 billion U.S. dollars, with backbone applications accounting for more than half of the gains. The space industry was estimated to grow even further and generate approximately 1.8 trillion U.S. dollars in 2035, with reach applications projected to have the largest share of 57 percent.
This statistic depicts the turnover of the global space economy in 2016, broken down by type. In 2016, the United States government spent 44 billion U.S. dollars on defense and non-defense space efforts.
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United States - Government current expenditures: Federal: Economic affairs: Space was 21.49500 Bil. of $ in January of 2023, according to the United States Federal Reserve. Historically, United States - Government current expenditures: Federal: Economic affairs: Space reached a record high of 21.49500 in January of 2023 and a record low of 0.15000 in January of 1959. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Government current expenditures: Federal: Economic affairs: Space - last updated from the United States Federal Reserve on June of 2025.
Small Satellite Market Size 2024-2028
The small satellite market size is forecast to increase by USD 6.01 billion at a CAGR of 21.22% between 2023 and 2028.
The market is experiencing significant growth, driven by the increasing deployment of low-cost solutions through micro- and nanosatellites. This trend is enabling new entrants and expanding the reach of space technology applications. Another key driver is the growing use of 3D printing in small satellites, which is reducing production costs and increasing design flexibility. However, the market is not without challenges, as the proliferation of satellite orbital debris poses a significant threat to the operational safety and longevity of small satellites.
Companies seeking to capitalize on the opportunities in this market must stay abreast of the latest technological advancements, regulatory frameworks, and collaborative partnerships to navigate these challenges effectively. By focusing on innovation, cost reduction, and safety measures, businesses can successfully position themselves in the dynamic and evolving the market landscape.
What will be the Size of the Small Satellite Market during the forecast period?
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The market continues to evolve, driven by advancements in technology and the expanding scope of applications across various sectors. Rapid deployment and data transmission are key priorities, with open source hardware and software playing increasingly significant roles. International cooperation and community development are shaping the industry, as countries and organizations collaborate on projects and share resources. Space debris management, scientific research, and space exploration are major areas of focus, with Additive Manufacturing and advanced propulsion systems enabling new capabilities. artificial intelligence, machine learning, and deep learning are transforming data analytics and image processing, while solar panels and internet of things technologies optimize energy usage and data transmission.
The space industry is also adapting to the demands of defense and security, disaster management, and weather forecasting, with satellite constellations providing critical space situational awareness. Space law and regulation are evolving to address these new realities, ensuring the sustainable growth of the space economy and fostering space diplomacy. Electric propulsion and 3D printing are revolutionizing spacecraft design and manufacturing, enabling cost reduction and customization. Remote sensing and environmental monitoring are driving commercial applications, while ground stations and data storage solutions ensure efficient data management. Sun-synchronous orbit and geostationary orbit continue to be essential for various applications, with launch services and spacecraft buses facilitating deployment and maintenance.
The ongoing dynamism of the market reflects its transformative impact on our world and the infinite possibilities of space exploration.
How is this Small Satellite Industry segmented?
The small satellite industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Application
Earth observation and remote sensing
Satellite communication
Navigation
Scientific research and others
Type
Minisatellite
Nanosatellite
Microsatellite
End User
Commercial
Government
Defense
Geography
North America
US
Canada
Europe
France
Germany
Italy
UK
Middle East and Africa
Egypt
KSA
Oman
UAE
APAC
China
India
Japan
South America
Argentina
Brazil
Rest of World (ROW)
By Application Insights
The earth observation and remote sensing segment is estimated to witness significant growth during the forecast period.
Small satellites, characterized by their size, cost, and flexibility, are revolutionizing various industries, particularly earth observation and remote sensing. These compact spacecraft, equipped with advanced imaging sensors, multispectral or hyperspectral cameras, and remote sensing instruments, offer high-resolution imaging capabilities. They capture detailed images of the Earth's surface, enabling precise monitoring of land use, urban development, vegetation health, and environmental changes. Small satellites play a crucial role in applications such as disaster response, environmental monitoring, resource management, and land use planning. Open source hardware and software contribute significantly to cost reduction, making small satellite technology accessible to a broader range of organizations and individuals.
Artificial intelligence, machine learning, and Deep Learning algorithms are integrated into these systems for data proc
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The global space launch market size was valued at approximately $12 billion in 2023 and is projected to reach about $25 billion by 2032, expanding at a compound annual growth rate (CAGR) of 8%. This significant growth is driven by factors such as increasing investments in space technologies, the rapid commercialization of space activities, and the growing demand for satellite deployment for various applications. Governments and private organizations alike are investing heavily to enhance their capabilities in space exploration, which is fueling innovations and expanding the market horizons. The heightened interest in establishing satellite networks for global internet coverage, Earth observation, and other applications is likely to sustain market growth over the forecast period.
The surging demand for small satellites is one of the key growth factors for the space launch market. These compact, lightweight satellites, commonly referred to as CubeSats or nanosatellites, are becoming increasingly popular due to their cost-effectiveness and versatility in a variety of applications such as telecommunications, scientific research, and military surveillance. As technology advances, the capabilities of these small satellites continue to improve, prompting more commercial and government entities to invest in small satellite constellations. This burgeoning interest is driving the need for frequent and cost-efficient launch services, thereby spurring market growth.
Another significant growth driver is the increasing participation of private companies in space exploration. The entrance of private players like SpaceX, Blue Origin, and Rocket Lab has transformed the landscape of space launch services. These companies are innovating with reusable rocket technologies and reducing the cost of access to space. With their ability to offer more frequent and flexible launch schedules, they are meeting the growing demand for satellite launches and opening new opportunities for scientific and commercial missions. These advancements are expected to lower barriers to entry for various industries and encourage more stakeholders to invest in space-related ventures.
The rise in government investments and international collaborations is also fueling the growth of the space launch market. Governments worldwide are increasing their budgets for space exploration to enhance national security, scientific understanding, and economic opportunities. Countries like the United States, China, and India are leading the way with ambitious space programs, including lunar and Mars missions, which require advanced launch capabilities. Additionally, international partnerships and collaborative projects like the European Space Agency's initiatives are fostering innovation and technological development, further driving the market's expansion.
The Space Launch System (SLS) is a pivotal element in the future of space exploration, designed to carry astronauts and cargo beyond low Earth orbit, including missions to the Moon and Mars. As the most powerful rocket ever built, the SLS is expected to play a crucial role in NASA's Artemis program, which aims to return humans to the lunar surface and establish a sustainable presence there by the end of the decade. With its unprecedented lift capacity, the SLS will enable the transportation of large payloads and complex scientific instruments, facilitating a new era of deep space exploration. The development of the SLS is a testament to the collaborative efforts between NASA and its industry partners, showcasing the potential of public-private partnerships in advancing space technology.
Regionally, North America, especially the United States, continues to dominate the space launch market due to the presence of established space agencies such as NASA and private companies like SpaceX. However, Asia Pacific is witnessing rapid growth, primarily driven by China and India, who are investing heavily in space technology and infrastructure. Europe also plays a significant role, with countries like France and the United Kingdom enhancing their space capabilities through regional collaboration and investment. The Middle East & Africa and Latin America are gradually emerging as potential markets, as these regions begin to recognize the strategic and economic benefits of investing in space activities.
In the space launch market, the vehicle type segment is categorized into orbital and suborbi
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United States - Government consumption expenditures and gross investment: Federal: Economic affairs: Space was 115.26600 Index 2009=100 in January of 2023, according to the United States Federal Reserve. Historically, United States - Government consumption expenditures and gross investment: Federal: Economic affairs: Space reached a record high of 115.26600 in January of 2023 and a record low of 18.69300 in January of 1959. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Government consumption expenditures and gross investment: Federal: Economic affairs: Space - last updated from the United States Federal Reserve on June of 2025.
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The in-space manufacturing, servicing, and transportation market is experiencing exponential growth, driven by increasing demand for space-based assets and the burgeoning need for on-orbit capabilities. This market, estimated at $15 billion in 2025, is projected to achieve a Compound Annual Growth Rate (CAGR) of 25% from 2025 to 2033, reaching approximately $100 billion by 2033. Several key factors fuel this expansion. Firstly, the growing number of satellites in orbit necessitates efficient servicing and repair capabilities to extend their lifespan and reduce space debris. Secondly, the potential for manufacturing specialized materials and products in the unique environment of space opens new avenues for technological advancement and cost savings. Thirdly, the rise of space tourism and the increasing interest in establishing lunar and Martian bases further drive the demand for reliable and cost-effective transportation systems. The commercial sector is currently the largest segment, followed by military and government applications, with significant future growth expected across all segments. Technological advancements in propulsion systems, robotics, and materials science are key trends shaping the market landscape. Challenges remain, however, including the high initial investment costs associated with space operations, the inherent risks of space environments, and the regulatory complexities involved in international space activities. Despite these restraints, the long-term outlook for the in-space manufacturing, servicing, and transportation market is exceptionally positive, driven by continuous innovation, increasing private sector involvement, and the growing realization of the immense potential of space resources. The diverse range of applications, from satellite constellations to deep-space exploration missions, ensures a robust and continuously evolving market. North America currently holds the largest market share, although other regions, particularly Asia-Pacific, are showing rapid growth, propelled by ambitious national space programs and emerging private companies.
BEA has developed a preliminary set of statistics measuring the contributions of space-related industries to the overall U.S. economy.These estimates give business leaders, policymakers, and the public a new tool to analyze the space economy and to inform investment decisions.Preliminary estimates of the U.S. space economy's GDP, gross output, private employment, and private compensation by industry were published in the December 2020 Survey of Current Business.