The Space Fund said in a report: “The growth of the global space economy will reach $496 billion in 2021, the fastest annual growth rate since 2014.” The report shows that the total production of governments and companies in the world in the field of missiles and satellites increased by 9% year on year in 2021, while in 2022 there was a slowdown in the US markets.
However, the United States remains the biggest space spender with a total space budget of $60 billion, nearly four times that of China, and India and many European countries have increased space spending by 30% or more in 2021. In the first six months of this year, there were 75 rocket launches worldwide, and the report indicated that about 90%, or the equivalent of more than 1,000 spacecraft launched in 2022, were supported by commercial companies, most notably hundreds of satellites for Star Link” launched by SpaceX. owned by billionaire Elon Musk.
Source: El Iktisad
