Space Economy Valued at $385 Billion in 2020, with Commercial Space Revenues Totaling Over $310 billion

Credit: Euroconsult

Despite the Covid-19 global pandemic impacting certain segments of the commercial space market, government spending remains unaffected.

Paris, Washington D.C., Montreal, Yokohama (Euroconsult PR) – In its latest research product “The Space Economy Report 2020″, Euroconsult estimates that the consolidated space economy, including both government space investments, as well as commercial space, totaled $385 billion in 2020, a record amount. Commercial revenues of $315 billion in 2020 were down 2% from 2019’s $319 billion evaluation, due partially to the Covid-19 pandemic affecting certain commercial markets – in particular satellite communication sub-segments focused on high mobility such as, aero, maritime, offshore oil and gas, though other factors, such as video-related revenues continuing their pre-Covid downward trend contributed to the decrease.

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Governments Maintain Firm Financial Commitment to Space Amid Global Economic Turbulence

Paris, Washington D.C., Montreal, Yokohama (Euroconsult PR) – Amid a tumultuous year for the global economy, government space program budgets maintained their growth trajectories for a fifth consecutive year. Following a period of strong budget tensions between 2010 and 2015, government space sector spending reached its highest recorded point in 2020 according to Euroconsult’s latest “Government Space Programs: Benchmarks, Profiles & Forecasts to 2029” flagship research. With Covid-19 having no noticeable impact on government space budgets, the pandemic having occurred with budgets largely already decided, it remains however to be seen, whether governments can sustain these historic budget levels in the future.  

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Global Market for Commercial Earth Observation Data and Services to Reach $8 Billion by 2029, Growing from $4.6 Billion in 2019

Paris, Washington D.C., Montreal, Yokohama (Euroconsult PR)– In its research report, Earth Observation Data & Services Market, Euroconsult provides in-depth analysis of Earth Observation (EO) satellite systems, commercial EO data, and the value-added services that contribute to the sector. With a global market projected to reach $8 billion by 2029, growth is expected to be driven by a mix of defense and new commercial markets, supported by the arrival of new constellation operators with low-cost solutions.

In 2019, the total value of the industry was $4.6 billion with the data market reaching $1.6 billion and value-added services (VAS) contributing $3 billion. Defense accounted for 64% of the data market, while environmental monitoring was the largest user of VAS.

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Satellite Imagery and Broadband to Nearly Quadruple the Earth Observation Precision Agriculture Market by 2029

Paris, Washington D.C., Montreal, Yokohama (Euroconsult PR) – For its latest research titled, EO4AG – Earth Observation for Agriculture, Euroconsult has teamed up with TerraMetric, a US-based, global business development firm focused on geospatial and new space markets, to provide an in-depth analysis on the global trends, vertical integration opportunities and regional demand forecasted for Earth observation-based services and products addressing the agriculture sector.

The two companies forecast that by 2029, the total agricultural market is expected to double in value to reach over $815 million. While government-driven sales are foreseen to remain significant, the uptake of precision agriculture solutions within the private sector due to expected near-global broadband coverage is expected to be the main catalyst behind this anticipated market growth.

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The 2020s: The Space Exploration Decade with $260 Billion Invested by Governments

Credit; Euroconsult

PARIS, WASHINGTON D.C., MONTREAL, YOKOHAMA (Euroconsult PR)  – According to Euroconsult’s latest research, “Prospects for Space Exploration”, global government investment in space exploration totalled nearly $20 billion in 2019, a 6% increase year-on-year. Thirty-one countries and space agencies lead this global investment with the U.S. accounting for 71% of spending. Funding for space exploration is forecast to increase to $30 billion by 2029, driven by Moon exploration, transportation, and orbital infrastructure. Approximately 130 missions are expected over the coming decade, compared to 52 missions conducted over the past 10 years.

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Euroconsult Research Projects Smallsat Market to Nearly Quadruple Over Next Decade

Credit: Euroconsult

Paris, Washington D.C., Montreal, Yokohama, August 5, 2019 – According to Euroconsult’s newly released research, Prospects for the Small Satellite Market, the market for small satellite (smallsat) manufacturing and launch will grow from $12.6 billion in 2009-2018 to $42.8 billion in the coming decade from 2019-2028, nearly quadrupling in size.

While the growth is led by large constellations such as OneWeb, SpaceX’s Starlink and Amazon’s Project Kuiper, the findings show that the smallsat industry is highly diverse, with demand from a variety of operators, start-ups, universities, and countries.

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Government Funding in Space Exploration to Surpass $20 Billion by 2027

Credit: Euroconsult

Boost in public and private initiatives in space exploration with a converging global interest in Moon exploration

Paris, Washington D.C., Montreal, Yokohama, September 27, 2018 – According to Euroconsult’s latest report, Prospects for Space Exploration, global government investment in space exploration totaled $14.6 billion in 2017, a 6% increase compared to 2016. Fifteen leading space programs worldwide are estimated to contribute to this global investment, with the U.S. accounting for 74% of the total.

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$30 Billion/Year Over Next Decade to Manufacture & Launch ~300 Satellites Annually

Paris, Washington D.C., Montreal, Yokohama, October 11, 2017 – According to the 20th edition of the report Satellites to be Built & Launched, Euroconsult anticipates that 300 satellites with a mass over 50 kg will be launched on average each year by 2026 for government agencies and commercial organizations worldwide. This is a threefold increase over the past decade as the satellite market experiences a paradigm shift with the rise of small satellites and mega constellations, such as that of OneWeb.

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Smallsat Market Value to Reach $30 Billion in Coming Decade

PARIS, WASHINGTON D.C., MONTREAL, YOKOHAMA, July 13, 2017 (Euroconsult PR) – According to Euroconsult’s latest report, Prospects for the Small Satellite Market, significant expansion in terms of capabilities and demand is underway in the smallsat market. Over 6,200 smallsats are expected to be launched over the next ten years, a substantial augmentation over that of the previous decade (several mega constellations are now included within the scope of this report). The smallsat market from 2017-2026 will be driven by the roll-out of multiple constellations accounting for more than 70% of this total, mainly for commercial operators.

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Commercial Military Satellite Communications Capacity Revenues & Demand Stabilizing After Period of Decline


PARIS, WASHINGTON D.C., MONTREAL, YOKOHAMA, March 2, 2017 (Euroconsult PR) – According to Euroconsult’s soon-to-be-released report, SatCom for Defense & Security: Strategic Issues & Forecasts, global military demand for commercial satellite capacity has fallen by an estimated 20% from a peak of 12.5 GHz in 2011 following tremendous growth over the previous decade, due in large part to lower usage of the U.S. DoD.

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20 New Countries to Invest in Space Programs by 2025

euroconsultAround 130 satellites forecast to be launched by emerging space programs in next 10 years

PARIS, WASHINGTON D.C., MONTREAL, YOKOHAMA (Euroconsult PR) – According to Euroconsult’s latest report, Trends & Prospects for Emerging Space Programs, 24 countries are identified as emerging space programs (ESPs) in 2015 having launched a total of 69 satellites in the last 20 years. As satellite technology has become more accessible and affordable, the number of countries investing in their first satellite system has increased dramatically. 2015 set an all-time record with nine satellites launched, confirming the dynamism of this market.

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Report: 3,600 Smallsats to Clog Space in Next 10 Years

Eight small-sized satellites total a big bonus for science. The Edison Demonstration of Smallsat Networks (EDSN) mission was to have used a swarm of small spacecraft to carry out scientific measurements. (Credit: NASA Ames Research Center)
Eight small-sized satellites total a big bonus for science. The Edison Demonstration of Smallsat Networks (EDSN) mission was to have used a swarm of small spacecraft to carry out scientific measurements. (Credit: NASA Ames Research Center)

$22 Billion Smallsat Market Forecast

Paris, Washington D.C., Montreal, Yokohama, July 7, 2016 (Euroconsult PR) — According to Euroconsult’s latest report, Prospects for the Small Satellite Market, we are on the cusp of a major revolution for the space sector and overall space ecosystem, as more than 3,600 smallsats are expected to be launched over the next ten years, a significant increase from the previous decade.

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Government Investment in Space to Top $80 Billion by 2024

Earth_from_OrbitNew growth cycle expected with 856 government satellites
planned for launch by end of decade

Paris, Washington D.C., Montreal, Yokohama, October 28, 2015 (Euroconsult PR) – According to Euroconsult’s newly released report, Government Space Programs: Strategic Outlook, Benchmarks & Forecasts, a new growth cycle in government space spending is expected to start and average 2.1% over the next ten years worldwide, reaching $81.4 billion by 2024.

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UrtheCast Wins Strategic Transaction of the Year Award

urthecast-logoVANCOUVER (UrtheCast PR) — We’re pleased to announce that UrtheCast has been awarded the Euroconsult prize for ‘Strategic Transaction of the Year’. The award was presented today, Sept. 18, during the 2015 Summit on Earth Observation Business in Paris, as part of the World Satellite Business Week Event.

The event is considered to be the pre-eminent space industry conference in the world with over 40 countries taking part, representing 95% of the satellite industry. The prize was awarded to UrtheCast for the July acquisition of the Deimos Imaging satellites and operations.

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Euroconsult Forecasts Increase in Satellite Launches

euroconsultPARIS, WASHINGTON, MONTREAL, YOKOHAMA, August 25, 2015 — According to Euroconsult’s newly released report, Satellites to be Built & Launched by 2024, 140 satellites with launch mass over 50 kg will be launched on average each year over the next decade for governments and commercial companies. In comparison with last year’s forecast, the number of satellites is due to grow more than the market value over the decade.

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