The private sector of space work closely in many cases with the state-run space agencies but also have a broad range of private endeavors such as:
Mars + Other Planet Colonization (In Development)
Private Satellite Manufacturing
Private Satellite Ownership (Imagery, Asset Tracking, Communications, Internet)
Private Rocket Development and Launch Capabilities
Asteroid Mining (In Development)
This broad range of private activities is where the majority of the growth in the space economy will come from in the future. The two segments of the space economy which will contribute the most to the growth of the space economy are Colonization and Asteroid Mining.
Government Space Budget and The Overall Space Economy
This chart shows the percentage of direct government space budgets as a portion of the overall global space economy.
What Are The Key Segments Of The Space Economy Currently?
The space economy is broken into three primary sectors: satellites, launch services, and ground services. You will notice the absence of other segments like asteroid mining, space resources, colonization, and fuel because they are not yet in service.
The Global Space Economy is roughly $339 billion in 2016 and is expected to grow in 2017. Currently, the satellite sector makes up the largest portion of the space economy, accounting for the majority of space revenue generation both directly and indirectly.
The main segments of the space economy are as follows:
Satellite Services $127.7 Billion
Satellite Manufacturing $13.9 Billion
Launch Industry $5.5 Billion
Ground Equipment $113.4 Billion
Break Down Of The Space Economy 2016
Governmental and Private Expenditures Combined
Growth Of The Space Economy 2012 To 2016
All figures are global and in billions of dollars.
The Satellite Sector
Roughly 40% of all the satellites which are currently in space belong to the United States Government or United States Registered companies. The remainder of the satellites are spread out between Russia, China, the European Union. Approximately 59 countries have satellites in space, although some countries share the same satellites.
The satellite sector was relatively stagnant, with roughly 0% percent growth over the past year. Satellites experienced a variety of issues in securing reliable launch solution in 2016, but their issues are anticipated to be fully resolved in 2017. We would add a more current update on this but the public information on these launches relative to previous years is not updated throughout the year. At the same time, the numbers of satellites in space has increased 53% since 2012 from 994 to ~1,459 satellites in space.
So now you might be asking yourself, what do all of these satellites in space do exactly? Below you will find a clear breakdown of the current makeup of the satellites in space and what their primary functions are. Some classified satellites are not included simply because they are not listed on any publically available information.
The Space Economy
Rockets, satellites, space stations, and colonies on other planets. These are all super exciting ideas and plans, but often times people forget to think about the Space Economy driving these advancements. As of 2017, the space economy will total just around $300 billion USD for all countries and private enterprises combined. It's a rather solid estimate, but there is sure to be some variation. This number is expected to grow significantly over the coming decades, and many economists and private experts put the size of the space economy at $2.5 to$3 trillion in the next three decades. Even if you want to be super conservative and cut the number by 50%, there will still be a $1.25 trillion dollar economy in space that entrepreneurs, investors, governments, and private individuals should take an interest in. But what if the estimates of $2.5 to $3 trillion are already very conservative and the size of the economy is much larger? It seems like paying attention to space is, at minimum, a practical thing to do, no matter how optimistic or pessimistic your views are.
Now let's break down the current space economy as it is today so that you can get a clear understanding of where we are starting from and where the economy can go. To do this, we're going to break the economy into:
Nation State/Government Actors and Private Companies
The main parts of the space industry
Satellites in Orbit
Satellite Systems (including system integration, platform, and payloads)
Ground Segment (including satellite control centers, mission control centers, and other ground-based user services)
Please keep in mind that all of this information is based on publicly available and verifiable information. We will update the numbers below every fiscal quarter as needed and should there be any major changes, developments, or other information that requires this information to be updated. Ok, we got that sentence out of the way.
Main Actors in The Space Economy
Nation State/Government Actors
As of late 2017, Nation State/Governmental Actors are the largest constituency in the space economy. These state agencies provide the majority of the funding for the current space economy.
The primary activities are:
Higher Education/Research Institutes
International Space Stations (United States, Russia, and China)
Funding New Technologies for Space
State Space Agencies are partnering more often with private companies to develop new technologies, programs, and missions. This is especially true in the United States and Europe.
Why should we go to space? Is it just for astronauts and billionaires?
Learn about the similarities and differences between Old Space and New Space.
Learn about the space economy and its key drivers.
How can you own things in space? Learn about it here.
Learn about the laws governing exploration and commerce in space.