spacetoday.net: Global space economy exceeds $250 billion

Global space economy exceeds $250 billion

Posted: Wed, Apr 9, 2008, 9:43 AM ET (1343 GMT)
A report released Tuesday concluded that the worldwide space budgets and revenues totaled $251 billion in 2007, an 11-percent increase over 2006. "The Space Report", published by the Space Foundation, looks at both government budgets and commercial revenues in various space-related industries to reach that total. Satellite-based products and services, and US government expenditures, comprise the two largest parts of the space industry, accounting for 80 percent of the overall total. The report also found that space industry employment in the US is growing, and that average wages in the industry are double the overall private sector average.