The Growth of the Space Economy

In 2024, global government space spending rose to $135 billion, marking a 10% year-on-year increase, driven by rising allocations from the U.S., China, and emerging space nations. At the same time, the broader space economy is undergoing rapid expansion, with its total market size projected to triple from ~$600 billion in 2024 to $1.8 trillion by 2035. This growth is being fueled by accelerating private investment, commercial innovation, and surging demand for satellite connectivity, Earth observation, and space-based infrastructure. By early 2025, commercial constellations accounted for over 85% of total launch tonnage, reflecting a major shift toward scalable low-Earth orbit networks. Satellite deployments are expected to average 3,700 per year through the early 2030s. Emerging sectors, including space tourism, AI-driven satellite operations, and in-orbit services are reshaping the industry's trajectory and opening new investment frontiers.

As government and private equity funding reach record highs, the space economy is poised to become a multi-trillion-dollar engine of growth, impacting everything from telecommunications and climate monitoring to global mobility and digital security.