Satellite services are a major contributor to this economy, generating $137 billion annually, with over 10,000 satellites currently in orbit around the Earth.

The global space economy reached an impressive $596 billion in 2024 and is projected to grow significantly to $944 billion by 2033.

SpaceX, under the leadership of Elon Musk, currently dominates the satellite market, controlling half of it.

The largest segment of the space economy is represented by space-based applications, which include essential services like weather forecasting and satellite navigation, totaling $308 billion.

In 2024, the United States led the space launch sector, outperforming China by more than two to one, while Russia ramped up its satellite deployments from 21 in 2023 to 98 in 2024.

The year 2024 also saw a record 259 space launches worldwide, averaging one launch attempt every 34 hours, marking the fourth consecutive year of increased activity.

The space economy encompasses a wide range of entities, including government agencies and companies involved in satellite and spacecraft production, data generation, Earth-based infrastructure, and research and development programs.