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Global Space Spending Surges to $135 Billion in 2024

1/17/2025

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Summary

Story summary

In 2024, global government space spending soared to a staggering $135 billion, marking a 10% rise from the previous year, fueled by defense investments of $73 billion. While the U.S. still leads in spending, its share has dipped to 59%. Experts predict a gradual budget stabilization, with a modest 1% annual growth expected through 2030, as global competition intensifies.

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Story summary

In 2024, global government space spending soared to a staggering $135 billion, marking a 10% rise from the previous year, fueled by defense investments of $73 billion. While the U.S. still leads in spending, its share has dipped to 59%. Experts predict a gradual budget stabilization, with a modest 1% annual growth expected through 2030, as global competition intensifies.