The United States has emerged as a dominant force in the expansion of the global space economy, with defense-related expenditures playing a significant role in this growth. In 2024, US spending on space-related defense programs increased at a faster rate than combined military space expenditures by all other nations.
According to a report from the Space Foundation, American defense space spending rose by 7.7% year-over-year to reach $49.5 billion. This growth outpaces the 2.3% increase seen in defense space expenditures by other countries, which collectively spent $11.3 billion on space-related military programs during the same period.
The expansion of US defense space spending is expected to accelerate further as the Trump administration advances its proposed Golden Dome missile shield program. This initiative represents a significant investment in space-based defense capabilities and underscores the growing importance of space in national security strategy.
The total global space economy reached $613 billion in 2024, with US defense spending contributing substantially to this growth. The Pentagon’s increasing focus on space as a critical domain for military operations has created new opportunities for technological development and commercial partnerships in the aerospace sector.
This surge in defense-related space expenditures highlights the strategic importance of space assets in modern warfare and national security planning. As space becomes an increasingly contested domain, nations are investing heavily in capabilities that can provide strategic advantages through satellite communications, surveillance, and potential defensive systems.
— news from Bloomberg.com