According to a report, the space industry reached a record $469 billion last year
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| The space industry reached a record $469 billion last year | Lotal Ghana |
The space industry grew at its fastest rate in years, reaching a record $469 billion in annual global spending in 2021, as government and commercial space endeavours continue to rise.
The analysis revealed that in 2021, the global space economy grew by 9% year over year, which was the greatest rate of growth since 2014.
A record number of civilians rocketed into space last year, accounting for a staggering 77% of all spending on commercial space operations.
In 2021, space companies delivered goods and services worth more than $224 billion, and approximately $138 billion was spent on the infrastructure and support of these businesses.
Last year, government spending grew by 19% and contributed $107 billion to the space economy, with the U.S. government and military spending $59.6 billion on their own, or 12% of the total amount spent on space.
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