Oct 29, 2015

Euroconsult:Government Investment in Space to Top $80 Billion by 2024

Government Space Programs: Strategic Outlook, Benchmarks & Forecasts is an in-depth assessment exploring all essential applications for government space programs. The research report provides unique insights and benchmarks for government agencies and industry players seeking opportunities in government space markets.It covers all major space applications, offering exclusive forecasts and analysis on government policies, strategies and expenditures at global and regional levels.

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Highlights from the report

A new growth cycle in government space spending is expected to start and average 2.1% over the next ten years worldwide, reaching $81.4 billion by 2024. Despite budget cuts, governments should maintain high launch rates over the next decade: 856 government satellites are planned for launch between 2015 and 2024, i.e. a 32% increase from the last decade, driven by civil Earth observation, communications and satellite navigation missions. 242 defense satellites are expected to be launched over the next 10 years, an 11% increase compared to the past of which 40% will be launched for the U.S. government.

The international landscape is experiencing profound mutations with a diversification of countries investing in space; 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, and Europe for 54% of Earth observation satellites.

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