New Space Economy Numbers and Spotlight on Space Sustainability

Welcome to the fifth edition of The Vector newsletter, a quarterly roundup of content, resources and insights for the global space ecosystem brought to you by Space Foundation’s Space Commerce Institute. Read on for the following highlights:

• The Space Economy Number Released?– The size of the economy is nearly double what it was a decade ago; dive into?The Space Report analysis.?

• Space Investment Analysis?– An in-depth discussion of the topics covered in The Space Report and what they mean for the space community.?

• Faga Forum?– Join the intelligence community’s premier classified conference about space intelligence.?

• The Vector?– Consider the business case for space sustainability and debris mitigation.?

The New Space Economy Number is Released!??

The global space economy totaled $570 billion in 2023, 7.4% higher than 2022’s revised sum of $531 billion. This growth is consistent and is nearly double the size of the space economy from a decade ago. ?

Space Foundation’s global space economy analysis, published annually in?The Space Report, ?examines commercial revenues for 11 space sectors and government spending, which this year included 54 nations. The Q2 2024 issue of The Space Report analysis concluded that commercial revenues topped $445 billion, 78% of the space economy and that government space spending maintained double-digit growth for a third year.?

Interested in reading more? Subscribe and get access to other topics that include:?

• Artemis: The Path Forward?
• Midyear Launch Update?
• Increased Launches Drive Focus on Space Sustainability?
• Lunar Vehicle Companies Keep Eyes, Priorities on the Moon?

Subscribe to The Space Report.

Space Investment Analysis?

Space Foundation’s Space Investment Analysis leverages investment and industry expertise to further explore and dissect the themes highlighted in The Space Report.??

On the heels of the recent Q2 2024 issue release, this episode sharpens the lens to provide additional context on the space economy composition, lunar activity and the national security risks facing an ever-engaged and contested environment.

Missed an episode? Visit?The Space Report’s Video on Demand? website anytime to watch the latest episode and past analyses.?

Watch Space Investment Analysis Q2 2024 .

Faga Forum

Space Foundation and?The Aerospace Corporation ?are hosting this year’s Faga Forum on Space Intelligence with the theme of Closing the Kill Chain.

This one-day classified conference on October 30th will take place in Chantilly, VA and brings together leading government officials and industry experts to discuss critical threats and challenges in the space domain.

Limited seating. U.S. citizenship and TS/SCI clearance is required.?

Register Now!

Now Available: The Vector Episode 19

How can commercial space entities approach sustainability strategically, and why should they? ?

Listen to our July episode of the Vector with Chris Blackerby, Chief Operating Officer of leading on-orbit servicing company Astroscale. ?He takes a deeper look into understanding the business case for space sustainability and commercial space debris mitigation, and Astroscale’s approach to creating a sustainable infrastructure to decrease risk and increase value in space.

Watch Now or listen on Spotify or Apple Podcasts.

The Vector is a product of Space Commerce Institute, a department of Space Foundation.

Space Foundation's four decades of advocacy for the global space community allows Space Commerce Institute to provide accessible, actionable, and tangible programming that facilitates growth into and within the evolving space ecosystem. Learn more.

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