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Global space revenue tops $251 billion
Global space revenue from government and private activities reached more than $251 billion in 2007, representing an increase of 11 per cent from 2006, according to the Space Report 2008.
- Staff Report
- Published: 13:57 September 8, 2008
Abu Dhabi: Global space revenue from government and private activities reached more than $251 billion in 2007, representing an increase of 11 per cent from 2006, according to the Space Report 2008.
Produced by the US-based Space Foundation, the report states that total revenue for space products and services is estimated at $138.83 billion for 2007, an increase of approximately 20 per cent over 2006.
Robust space industry growth was achieved through two commercial satellite services, Direct to Home (DTH) television and Global Positioning System (GPS) equipment and chipsets, with DTH services growing by nearly 19 per cent and sales of GPS equipment by 20 per cent in 2007, together contributing close to $20 billion to the global economy.
The global space industry is experiencing phenomenal growth as advancements in space technology continue to create new commercial markets and exciting opportunities within the space industry, and for investors and entrepreneurs in non-space related fields.
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