Global space spending hits $251bn

GPS and satellite TV drive increased investment

By Lester Haines • Get more from this author

Posted in Government, 9th April 2008 11:50 GMT

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Global spending on space-related projects hit $251bn last year - with the US accounting for 81 per cent of the worldwide spend.

That's according to the Space Foundation, which notes the figure is an 11 per cent increase on 2006 "despite slowing growth in many countries".

The main areas of growth were in satellite TV and US-funded GPS systems. In total, 71 per cent of the States' space budget - $45bn - was allocated to military projects.

Russia's space investment rose 49 per cent over 2006 to $1.32bn in 2007, "driven largely by increased investment in Russia's GLONASS global navigation satellite system".

Figures for China's burgeoning space programme are unavailable, but the Space foundation estimates they may have hit $1.5bn in 2007.

Marty Hauser, Space Foundation's research and analysis chief, said: "All sectors of space continue to grow despite economic woes in many countries. The space economy appears to be poised for steady growth in coming years." ®

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