Commercial space growth fueled a 2 percent increase in the global space economy last year to $329 billion.
That’s the chief finding of a new report by the Space Foundation, a 34-year-old nonprofit advocacy group. The foundation released a summary of its annual report on worldwide space activity Aug. 3.
The report found there were “negligible declines in non-U.S. government and U.S. government budgets” in 2016. That dip was more than offset by a $253 billion contribution from commercial space activities — comprising a whopping 76 percent of the total global space economy.
Most nations boosted their space spending last year, the report found.
In the U.S., the government’s combined spending on defense and non-defense space efforts rose 0.3 percent last year to $44 billion, while non-government space investment declined 0.4 percent due to exchange rates and other factors to $32 billion. Together that made for a total $76 billion U.S. space economy in 2016.
The Colorado Springs, Colo.-based Space Foundation put the global space economy at $323 billion in 2015.