Government spending on space programs by nations worldwide will rise about 2 percent annually and reach a collective $81.4 billion by 2024.
That’s the projection from a new report from Euroconsult, “Government Space Programs: Strategic Outlook, Benchmarks & Forecasts.”
The report doesn’t address the competitive landscape among commercial space companies around the world. But top players in the always-challenging space sector will point to the spreading global interest in soliciting further private investment in the sector.
“Despite budget cuts, governments should maintain high launch rates over the next decade,” said Euroconsult’s Steve Bochinger, who edited the report. “(A total) 56 government satellites are planned for launch between 2015 and 2024, a 32 percent increase from the last decade driven by civil Earth observation, communications and satellite navigation missions.”
The report projects a total 242 defense satellites will be launched during the next 10 years, representing an 11 percent increase over the previous decade. About 40 percent of such launches will be for the U.S.
Among other report highlights:
- Funding for Earth observation programs totaled $10.9 billion in 2014, featuring investments of 52 countries.
- Manned-spaceflight spending totaled $10.8 billion in 2014, with funding by seven nations and the European Space Agency.
- The development of launch vehicles featured a notable 9 percent funding uptick during the past decade on surging interest in next-gen rockets, receiving $7.4 billion just last year.
- Satellite communications programs reaped $5.9 billion in 2014 funding, space science and exploration $5.9 billion, and satellite navigation $4.5 billion, while space security programs received $2 billion.
“The international landscape is experiencing profound mutations, with a diversification of countries investing in space,” Bochinger said. “The number of countries investing over $10 million in space activities has grown from 38 in 2005 to 58 in 2014. International suppliers are competing fiercely for these business opportunities, with China currently accounting for 28% of communications satellites ordered by emerging programs.”
Europe places a majority of orders for Earth observation satellites, at 54 percent, he added.
Euroconsult is a private consultancy based in France with offices in the U.S., Canada and Japan.