The United States’ investment in space defense has seen a significant rise in 2024, outpacing the growth of similar expenditures by other countries. With the administration of President Donald Trump advancing plans for the proposed Golden Dome missile defense system, American spending in this sector is expected to climb further. According to a report released by the Space Foundation, U.S. defense-related space spending increased by 7.7% year-over-year, reaching $49.5 billion. In contrast, the combined defense space spending of all other nations grew by only 2.3%, totaling $11.3 billion. This growing disparity highlights the U.S.’s dominant position in the rapidly expanding global space economy, which is now valued at $613 billion.
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US Defense Fuels Expanding $613 Billion Global Space Economy
The Pentagon’s spending on space grew faster than space-related military outlays by other nations in 2024, with the American total likely to soar as President Donald Trump ’s administration moves ahead with his proposed Golden Dome missile shield.
The US defense space expenditure increased 7.7% from a year earlier to $49.5 billion, more than the 2.3% growth by all other nations, which spent a combined $11.3 billion for defense space programs, according to a report from the Space Foundation.