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Global space economy reached $423B in 2019, Space Report finds
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The space economy grew by billions of dollars last year, according to a recent report.
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On Thursday, the Space Foundation released its Space Report for the second quarter of 2020, which found that the global space economy increased by 2.2 percent, reaching $423.8 billion — $9 billion more than 2018.
According to a release about the report, space activity, including government spending and commercial revenue, has increased by 73 percent in the last 10 years.
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Last year, the global space economy also increased by 16.1 percent in its infrastructure and support industries and a 1.7 percent increase in its products and services sector compared to 2018, the according to the report.