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Euroconsult Releases its Government Space Programs Report – Expenditures Reach US$70.9 in 2018

Euroconsult sent out a press release today promoting its latest research product, its Government Space Programs: Benchmarks, Profiles & Forecasts to 2028. The release includes some teaser data but the full report will cost you €6000.

Here’s some of the teaser information from the press release.

In 2018 the total government world expenditures reached $70.9 billion. Global government space budgets are in the early stages of a ten year growth cycle and forecasted to grow to $84.6 billion by 2025.

According to the research, the U.S. government continues to be the world’s largest investor in space programs, with China, Russia, France and Japan following in that order. The U.S. budget for space in 2018 totaled $40.9 billion, 58 percent of the world market, down from 75 percent of the world market in the early 2000s. China solidified its second-place ranking, with an estimated $5.83 billion budget, as it looks to commercialize and internationalize its space sector. Russia’s budget has decreased from its highs in 2013 and France tops European national spending and has overtaken Japan with the fourth largest government space budget in 2018.”

2018 government space expenditures by country
2018 government space expenditures by country. Credit: Euroconsult.

Among other interesting findings, the research shows that growth drivers are reversing from the recent past, with defense budgets now expected to outpace civil budget expansion. The report shows that civil budgets worldwide will grow moderately at an average of 1.6 percent per year throughout the 2020s, driven largely by leading powers investing in science, exploration and manned flight. However, short-term budget growth will be fueled by defense programs in the U.S., Asia and the Middle East with an average of 4.2 percent annual increases until the mid-2020s.

The report details expected investment by region and includes profiles of space programs in 86 countries. The report also provides “analysis of seven different application areas for each country including Earth observation, satellite navigation, space science and exploration, space security, communications, launch vehicles and manned spaceflight.”

Further details.

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About Marc Boucher

Marc Boucher
Boucher is an entrepreneur, writer, editor & publisher. He is the founder of SpaceQ Media Inc. and CEO and co-founder of SpaceRef Interactice Inc. Boucher has 20 years working in various roles in the space industry and a total of 27 years as a technology entrepreneur including creating Maple Square, Canada's first internet directory and search engine.