The space industry refers to the commercial sector that focuses on the development, production, and operation of technologies and services related to space exploration and utilization. This includes a wide range of activities such as launching satellites, conducting space research, manufacturing spacecraft, and providing space-related services such as satellite communication, earth observation, and navigation. The industry encompasses private companies, government agencies, and international collaborations that engage in various aspects of space activities, from manufacturing rockets and spacecraft to emerging markets in space tourism and asteroid mining. The growth of the space industry has been driven by advancements in technology, increased investment, and a rising interest in space exploration, leading to new opportunities for innovation and economic development in the sector.
Executive Summary and Market Overview The global space industry is experiencing robust growth in the mid-2020s, driven by commercial innovation and rising government investment. In 2024, the global space economy reached an estimated $415 billion in revenue, up 4% from the previous year sia.org. Commercial satellite activities dominate, accounting for about $293 billion (71%) of this total sia.org. The number of…
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