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Global Space Economy Grows in 2019 to $423.8 Billion, The Space Report 2020 Q2 Analysis Shows

1 Aug 2020, 09:01 UTC
Global Space Economy Grows in 2019 to $423.8 Billion, The Space Report 2020 Q2 Analysis Shows
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Combined Activity in Government Spending and Commercial Revenue Has Jumped 73% in the Last Decade, According to Newest Analysis from Space Foundation

COLORADO SPRINGS, Colo., July 30, 2020 (The Space Foundation PR) — The global space economy in 2019 grew more than $9 billion over the previous year, reaching $423.8 billion, according to new findings published by Space Foundation’s 2020 second-quarter issue of The Space Report.

Economic analysis also found:

The growth represents a 2.2% increase from the 2018 global space economy, which was estimated at $414.75 billion.Commercial revenue climbed to $336.89 billion in 2019, up 6.3% from $328.86 billion in 2018.Space products and services, a sector of commercial space revenue, totaled $217.72 billion, easing up 1.7% from 2018’s $214.18 billion.Space infrastructure and support industries, the other main commercial sector, climbed to $119.17 billion — a 16.1% increase over 2018’s $102.66 billion, and marking the first time since 2016 that the sector exceeded the $100-billion mark.

For more than a decade, The Space Report has been widely recognized as the definitive body of information about the global space industry. It contains worldwide space research and data relating to the industry’s economy, infrastructure, and workforce, and also details the diverse benefits ...

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