- Press Release
- Mar 24, 2023
Euroconsult Predicts Highest Government Space Budgets In Decades Despite Covid
Paris, Washington D.C., Montreal, Yokohama, Sydney, Toulouse, 6th January – Leading space consulting and market intelligence firm Euroconsult has released its highly anticipated “Government Space Programs” report for 2021. The highlight of this year’s findings is a continued, even accelerated, volume of governmental investment in the space sector, driven by two major drivers: ambitious space exploration programmes by leading space countries, and rivalries driving the militarization of space. A highly anticipated annual industry study, Euroconsult’s “Government Space Programs” flagship market intelligence report draws on 36 years of experience to provide readers with unrivalled insight into the prevailing strategic space trends among governments.
Despite a year of uncertainty, the space sector has received record government investment totaling over $92 Billion, an 8% increase compared to 2020. Civilian space budgets, totaling $53 billion in 2021, continue to receive more funding than defense space programs, at 58% of total spending, though the share going to defense, $39 billion in 2021, is increasing. Geopolitical tensions, increasing rivalry between leading space powers, and the value of space as the ultimate high ground drive the militarization of space trend, with leaders increasing their investments in defense space assets and technologies.
This year’s edition of the report takes a close look at the surge of public funding intended to shore up the space industry against the economic repercussions of the COVID-19 pandemic. Government Space Programs 2021 provides details on national space programmes’ spending priorities as well as two potential 10 year forecast scenarios, digested into negative and optimistic models.
For only the second year in the long history of this report, Government Space Programs is now available on Euroconsult’s innovative Digital Platform, a powerful tool packed with premium features to help customers easily sort, compare, customize and visualize datasets of their choice. With a few clicks, Premium Users can now sift through the thousands of data points included in the entire database to create customized datasets tailored to their specific needs. A long running paragon of the trademark methodology that has made Euroconsult the global leader for in-depth data and reliable intelligence for the space sector, “Government Space Programs” boasts 89 country profiles in exhaustive detail, including analysis on policy & strategic objectives, Governance tables and organigrammes, Space Expenditures, Civil Space Programs, Defense & Security Space Programs, Missions Road Maps, and more.
In addition to this valuable data granularity, “Government Space Programs” sets the industry benchmark for useability and transparency, with features appealing to government, industrial, and satellite operator readers in particular. Access to Euroconsult’s extensive database provides customers an exclusive look “behind the curtain” with thousands of data points for annual space budgets from 1990 to 2030. Detailed Country Fact Sheets provide key, high-level take-aways, providing key information on national space programmes quickly and easily. These include total 2021 space budgets with five-year CAGR, top 3 applications, space spending per capita and as a % of GDP as well as select high-profile missions and satellites.
New in this year’s edition, the “Government Space Programs” forecast, its foremost feature, has now been extended to 2030. In addition, “country pages” on the Digital Platform further implement ease of use functionalities by linking directly to official online resources for government space policies, strategies, budgets and legislation. Finally, the report includes more detailed governance organigrammes, illustrating the relationships between government bodies and institutions, to help readers navigate complex decision-making processes and better understand the policy making landscapes and players.
“Government Space Programs” is a must-read and the essential tool to understand the state and drivers of all space programs worldwide. Euroconsult’s highly-regarded and repeatedly trend-setting analysis is now enhanced by its innovative Digital Platform, providing leading-edge insight and unmatched perspective on the evolution of government investments in space.
Premium customers now benefit from the full range of powerful tools on the Digital Platform for easy data management, visualization and export, in addition to the Classic version including expansive Excel database. Read the report today at Government Space Programs.