Historic high for government space spending
Strategic space consulting and market intelligence firm Euroconsult has released the 23rd edition of its annual Government Space Programme report, confirming the growing financial efforts achieved by governments in the…
Strategic space consulting and market intelligence firm Euroconsult has released the 23rd edition of its annual Government Space Programme report, confirming the growing financial efforts achieved by governments in the space sector.
Keen to capitalise on the expanding space economy and to further strengthen their sovereign capabilities, government space expenditures have increased to $117 billion, a 15% increase compared to last year, Euroconsult said.
Throughout history, government spending has predominantly been directed towards investments in civil space activities.
However, in 2023, a significant paradigm shift has occurred, with defense expenditures now taking the lead. This development underscores the pivotal role of space in an era characterised by escalating global tensions.
The increasingly complex and contentious geopolitical landscape has motivated leading spacefaring nations to intensify their investments in the defense space sector.
While funding for traditional applications like Telecommunications, Navigation, and Earth observation has steadily increased in recent years, the most notable surge has been witnessed in investments related to Security and Early Warning.
On the other side, the growth in civil budgets is mainly driven by crewed and non-crewed Scientific and Exploration programmes.
While spending remains concentrated among leading spacefaring nations, notably supporting the US-led Artemis programme and the Chinese IRLS initiative, an increasing number of nations are acknowledging the socio-economic benefits of these endeavours and are now developing their own initiatives.
World government expenditures for space programmes in 2023 for a total investment of $117 billion.
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