Space Economy Market Size

The global space economy market was valued at USD 418 billion in 2024 and is estimated to grow at a CAGR of 6.7% from 2025 to 2034. The integration of space technologies across industries drives growth in the space economy.

Advances in satellite and rocket technologies are making space more accessible and cost-effective, enabling sectors like logistics, transportation, retail, and disaster management to improve their operations. These industries now use space innovations for real-time tracking, global communication, and weather forecasting, which improve efficiency and create new business opportunities. As more industries adopt these technologies, the space economy continues to expand. According to the World Economic Forum, the space economy is expanding as satellite and rocket technologies become more accessible. Space technologies are now essential in our daily lives, from weather forecasting to wearable devices. These technologies also benefit multiple industries, including retail, consumer goods, food and beverages, supply chains, transportation, and disaster management.

The space sector is transitioning from government-led programs to a commercial landscape where private companies are creating reusable rockets, satellite networks, and space tourism opportunities. The space economy market now includes a wide range of satellite services, from internet connectivity and Earth monitoring to navigation systems. Companies are exploring new frontiers through in-orbit manufacturing and plans to extract resources from the Moon and asteroids. Meanwhile, industries like farming, transportation, and weather monitoring are using space technologies to work better and protect the environment.

As these developments continue, the space industry is becoming a vital part of the world economy, opening doors to new business opportunities. The number of satellites launched per year has increased by 50%, while launch costs have decreased by a factor of 10 over the past 20 years. This reduction in costs has enabled more frequent launches. Data prices, essential for connectivity, have also declined - a trend expected to continue across various sectors. The widespread adoption of mega-rocket technology by the early to mid-2030s will expand opportunities for orbital placement and pricing.