Headline points for 2022 include government space funding reaching $103bn, which is an increased of 9% from last year.
According to the organisation, 86 countries have been recorded to invest in space activities this year, with the Middle East notably increasing their expenditure.
Furthermore, space defence – in particular – is accelerating by increased funding. It is topping a new record at $48bn, which is 16% more this year. Such defence spending is expected to match government civil space funding by 2031. What’s pushing the increase? Current geopolitical issues pushing governments to competitively invest in Space Security and Early Warning systems, to help protect their space assets and infrastructure.
While civil expenditures have historically been higher than defense spendings, the gap between the two continues to narrow, says Euroconsult, and is expected to reach 50/50 parity by 2031.
National
In terms of national rankings, the US remains the largest investor by far worldwide. However, its share of global spending has reduced from 76% in 2000 to 60% in 2022 as more countries join the sector.
Some regions have shown a particular dynamism over the past few years, note the authors, particularly in the Middle East with countries as Saudi Arabia, the UAE, Qatar and Oman accelerating their development in the sector.
It is also notable that the UK government space spending, quoted as $1.154bn, is tripled by that of the French government, which is quoted as $4.204bn.
“The new edition of the Government Space Programs report confirms the growing interest of countries in the space sector, notably in the defense area where space militarization has never been stronger,” said Charlotte Croison, Senior Consultant at Euroconsult.
More information about the report can be accessed via the company’s reporting platform.
The report covers budgets in civilian and defense applications and highlights spending patterns and specific areas of investment by nations around the globe.
See also: Euroconsult forecasts Ground Segment market in billions of dollars
