Colorado Springs, CO USA, July 22, 2025 (GLOBE NEWSWIRE) — Space Foundation, a nonprofit organization founded in 1983 to advance the global space community, released The Space Report 2025 Q2, revealing the global space economy reached an unprecedented $613 billion in 2024—reflecting strong 7.8% year-over-year growth. The milestone underscores the vital role space plays in driving economic growth, ensuring national security, and enhancing public safety.
The report found the commercial sector accounted for 78% of the global space economy, with government budgets contributing the remaining 22%. Government space spending grew 6.7%, to reach $132 billion, with the United States investing $77 billion in national security and civil space programs.
“Space is not just a frontier for exploration; it is a cornerstone of our economy and security,” said Space Foundation CEO Heather Pringle. “At Space Foundation’s Innovate Space: Global Economic Summit, we will unveil key data and trends that propelled the global space economy to exceed $600 billion for the first time in history. Alongside industry and economic experts in Washington, D.C., we will explore the significant impact of the commercial sector and analyze the effects of established and emerging markets.”
Space Foundation projects the global space economy …