Earth Imaging Journal: Remote Sensing, Satellite Images, Satellite Imagery
Breaking News
Industry players announce London Geospatial Week for 2020
Geospatial professionals have an exciting new week to look...
Seabed 2030 and World Ocean Council agree new partnership for sustainable stewardship of the oceans
London – A new partnership for sustainable stewardship of...
iGeolise Raise £3.2m Investment for Their Location Search and Mapping API
LONDON - Today iGeolise announce £3.2 million funding from...
thinkWhere Online Mapping Tool Helps Falkirk Residents Access Essential Services
Stirling, Scotland– Scotland's Falkirk Council has rolled out a...
Esri Poster Contest Winners Announced at AAG Annual Meeting
REDLANDS, Calif.- Esri, the global leader in location intelligence,...

May 14, 2015
Government Spending in Space Programs at $66.5 billion in 2014

Paris, Washington D.C., Montreal, Yokohama, May 14, 2015 — According to Euroconsult's newly released research report, Profiles of Government Space Programs, world government expenditures for space programs decreased by 4% to $66.5 billion in 2014.

The decrease in U.S. military space expenditures combined with the impact of adverse exchange rates on Russia had a considerable influence on global trends as the two countries together account for 65% of space expenditures worldwide. Government spending excluding the U.S. and Russia actually increased by 8% in 2014.

Tensions on public finances have pushed governments toward severe budget arbitrations with choices to be made over spending priorities. However, this situation did not stop governments from funding new large-scale programs, even in countries impacted by the economic slowdown. Ariane-6 in Europe, the expanded IGS reconnaissance program in Japan, or the Radarsat Constellation Mission in Canada are prominent examples of governments' commitment to acquire/maintain strategic assets while supporting domestic industrial capabilities. In many cases, governments' growing inclination to integrate space in a broader strategy to preserve national security and sovereignty has been a key motivation factor to sustain or even increase funding levels to strategic programs.

"In 2014, 60 countries invested $10 million or more in space applications and technologies; this is twice as many as in 2004," said Jean-Baptiste Thepaut, Senior Consultant at Euroconsult and editor of the report. "In addition, 21 more countries have been identified with plans for investment in space projects. Such dynamism demonstrates how space technologies and applications are seen by governments as a valuable investment to support their national social, economic, strategic, and technological development."

Highlights from the 80+ agencies and organizations profiled in the report include:

• The U.S. invested $34.7 billion in its space program (civil and defense) in 2014, confirming the downward trend initiated since the start of the decade. Russia has initiated an ambitious plan to modernize and expand its space-based assets in all domains. It has accelerated its investments in the last five years at an average growth of 11% in local currency. However, penalized by decreasing oil prices, the Russian budget converted into dollars decreased by 11% in 2014 compared to that of 2013.

• Another six countries invested over $1 billion in their space programs: Japan, China, France, Germany, Italy, and India, to which shall be added the European Union. It is notable that China now surpasses France as the fourth largest space program. 18 countries recorded over $100 million in spending; this includes countries with stable investments for over a decade such as the U.K., Canada, and South Korea, and countries undertaking the development of their first or second generation of space-based assets such as Kazakhstan, Mexico, and Brazil. Only 11 countries were part of this list in 2009.

• 34 other countries invested between $10 million and $100 million in their national space programs; 22 of them were part of this list in 2009 and only 11 in 2004.

About The Report

Profiles of Government Space Programs is the only complete assessment of public space programs. The report, published since 1994, is a comprehensive review of all 80+ active space programs around the world, including leading countries and organizations, emerging programs, defense and civil agencies. Each program is analyzed and assessed by the same criteria, through extensive qualitative and quantitative information and analysis, including current and future policies, budgets and programs.

About Euroconsult

Euroconsult is the leading global consulting firm specializing in space markets. As a privately-owned, fully independent firm, we provide first-class strategic consulting, develop comprehensive research and organize executive-level annual summits for the industry. With 30 years of experience, Euroconsult is trusted by 600 clients in more than 50 countries. Euroconsult is headquartered in France, with offices in the U.S., Canada and Japan.

Comments are closed.