Galactic Gold Rush: Global Satellite & Space Industry Soars Toward $1 Trillion
In 2024 the global space economy was valued at roughly $550–600 billion, with projections to approach $1 trillion within 10–15 years. North America, led by the U.S., accounted for about 60% of world space spending in 2024, with American firms building 83% of all commercial satellites launched that year and earning 69% of global satellite manufacturing revenue, while capturing about 65% of commercial launch revenues. 2024 set a record with 259 orbital launches and 2,695 satellites deployed, driven largely by SpaceX’s activity. Global satellite manufacturing revenues in 2024 reached about $20 billion, up 17% from 2023, with the U.S. responsible