According to the European Space Agency, defence spending on space exceeded civil space budgets last year for the first time since the 1990s. Defence expenditures in space are projected to grow faster than civil spending, making up 53% of the budget in 2024.
The US continues to dominate global space investment, accounting for 64% of the total budget, while China holds a strong second place, growing its share from an estimated 2% in 2000 to 12% in 2023 through long-term programmes in both civil and defence.
Europe ranks third, contributing 11% of the global space budget in 2023.
What share of their GDP do EU countries spend on public space budgets?
Luxembourg remains Europe’s leading investor in space, dedicating 0.135% of its Gross Domestic Product (GDP) to the sector.
Globally, the country ranks third behind the US (0.262%) and Russia (0.169%).
In Europe, Luxembourg is followed by France, which invests 0.167% of its GDP, Italy at 0.103%, and Belgium at 0.095%.
On the other hand, private investment in space has continued to decline in 2023, dropping by 32% compared to 2022.
Europe also saw a 14% decrease in 2023 compared to the year before, with private space ventures receiving just below €980 million.
Although the US accounts for most of the global decline in 2023, its space sector continues to attract the largest share of investments at 60%, followed by Europe with 16% and China with 9%.
What was the state of space activity in 2023?
There were 221 orbital launches in 2023, an 18% increase compared to 2022.
Yet, a total of 212 launches were successful.
The US carried out more than half of the launches, with 96 of them conducted by SpaceX.
China accounted for 30% with 67 launches, a 5% increase from 2022, and Russia completed 19 launches.
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The European launch service provider conducted three launches in 2023, including Europe’s first mission to Jupiter, which aimed to explore whether the planet’s three moons — Callisto, Europa, and Ganymede — could support life in their oceans.
Video editor • Mert Can Yilmaz
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Publish date : 2024-12-25 04:10:00
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