The newly released 2022 edition of Euroconsult's "Government Space Programs" report provides detailed insight into rising government space budgets in civilian and defense applications for the decade ahead, highlighting spending patterns and specific areas of investment from nations around the globe. Paris, Washington D.C., Montreal, Yokohama, Sydney, 15th December 2022 – Leading space consulting and market intelligence firm Euroconsult has released the 22nd edition of its annual "Government Space Programs" report this week, evidencing a continued increase in global governments' space budgets. This year has seen a cumulative spend of $103B in 2022, a 9% increase since last year and a record high for the sector. Despite the recent pandemic crisis, governments have increased their investments in the sector to further support the development of their industry and sustain their ambitions. This growth is notably significant in the defense area, reaching 16% in 2022 and topping a new record at $48B. Current geopolitical tensions have confirmed space as a strategic operational theater for hybrid warfare tactics, pushing governments to sustain their investments in 'traditional' space applications such as Telecommunications, Navigation and Earth observation, but also more prominently in Space Security & Early Warning systems to further protect their space assets. On the civil side, government expenditures are increasingly driven by Human Spaceflight missions, which now attracts more and more new entrants encouraged by the socio-economic benefits and prestige brought by these programs. While civil expenditures have historically always been higher than defense spendings, the gap between the two continues to decrease and is expected to reach 50/50 parity by 2031 according to Euroconsult's projections. In terms of national rankings, the US remains, by far, the largest investor worldwide. However, its share of global spending has been reduced, from 76% in 2000 to 60% in 2022 as more and more countries join the sector. This year, Euroconsult counted more than 86 countries invested in space activities. Some regions have shown a particular dynamism over the past few years, notably in the Middle East with countries as Saudi Arabia, the UAE, Qatar and Oman accelerating their development in the sector. Charlotte Croison, Senior Consultant at Euroconsult, stated " the new edition of the Government Space Programs report confirms the growing interest of countries in the space sector, notably in the defense area where space militarization has never been stronger ". Euroconsult's 22nd edition of "Government Space Programs" provides a comprehensive assessment of countries and organizations investing in space. The highly anticipated report is now available on Euroconsult's innovative Digital Platform, a powerful tool allowing customers to easily sort, compare, customize and visualize datasets of their choice, while premium users can sift through thousands of data points included in the entire database to create customized datasets tailored to their specific needs. For detailed profiles on all government players and an accurate map to help navigate the international space investments and priorities, the company's platform can be accessed via https://digital-platform.euroconsult-ec.com/product/government-space-programs/. —-ENDS—- About Euroconsult The Euroconsult Group is the leading global strategy consulting and market intelligence firm specialized in the space sector and satellite enabled verticals. Privately owned and fully independent, we have over thirty years of experience providing first-class strategic consulting, developing comprehensive market intelligence programs, organizing executive-level annual summits and training programs for the satellite industry. We accompany private companies and government entities in strategic decision making, providing end-to-end consulting services, from project strategy definition to implementation, bringing data-led perspectives on the most critical issues. We help our clients understand their business environment and provide them with the tools they need to make informed decisions and develop their business. The Euroconsult Group is trusted by 600 clients in over 50 countries and is headquartered in France, with offices in the U.S., Canada, Japan, Singapore, and Australia. www.euroconsult-ec.com
The newly released 2022 edition of Euroconsult’s “Government Space Programs” report provides detailed insight into rising government space budgets in civilian and defense applications
Source: gisuser.com