Global Space economy is valued at USD 370 Billion in 2021 and is expected to reach USD 642 billion by 2030 with CAGR of 6.3%, as per the findings by renowned consulting firm EuroConsult. This growth is enabled by growing demand for space-based services, lowering of costs, miniaturization and access to technology, liberal funding and enabling regulations around the world.
The revenue consists of the space market (USD 337 Bn in 2021) which includes commercial space revenues and government procurement for their space activities contracted to the private sector and other spending from government organizations (USD 33 Bn) to conduct their space activities (internal costs and R&D).