Galactic Gold Rush: Global Satellite & Space Industry Soars Toward $1 Trillion
The global space economy reached $550–600 billion in 2024, with North America accounting for 60% of spending and U.S. firms building 83% of commercial satellites. A record 259 orbital launches deployed 2,695 satellites, mainly by SpaceX. Satellite manufacturing revenue rose 17% to $20 billion, with the U.S. earning nearly 70%. Satellite services generated $108.3 billion, led by Starlink and OneWeb deployments.