For the first time in 20 years, the global total spent on government space programs declined in 2013.
For the first time in 20 years, the global total spent on government space programs declined in 2013.
According to Euroconsult’s newly released research report, Profiles of Government Space Programs, global budgets for space programs dropped to $72.1 billion in 2013 following peak spending at $72.9 billion in 2012. This is the first time since 1995 that public space programs worldwide have entered a downward trend, a direct result of the cyclical nature of countries’ investment in space-based infrastructures combined with governments’ belt-tightening efforts during tough economic times.
This is not bad news. It just reflects the shift from public to private in the space industry in the U.S. and elsewhere, which is also reducing the cost for doing exactly the same thing. Thus, spending might drop, but more is being done.
For the first time in 20 years, the global total spent on government space programs declined in 2013.
According to Euroconsult’s newly released research report, Profiles of Government Space Programs, global budgets for space programs dropped to $72.1 billion in 2013 following peak spending at $72.9 billion in 2012. This is the first time since 1995 that public space programs worldwide have entered a downward trend, a direct result of the cyclical nature of countries’ investment in space-based infrastructures combined with governments’ belt-tightening efforts during tough economic times.
This is not bad news. It just reflects the shift from public to private in the space industry in the U.S. and elsewhere, which is also reducing the cost for doing exactly the same thing. Thus, spending might drop, but more is being done.