BETHESDA, Md., 9 August 2005. The worldwide market for commercial services and government programs in space and satellite systems reached $103 billion in 2004 and is forecast to exceed $158 billion in 2010, according to a new report from the International Space Business Council.
The council today released its '2005 State of the Space Industry.' First released in 1997, the report was developed to provide industry, government, and financiers with an independent assessment of the trends and issues affecting the industry.
Highlights of the report include:
* More than $18 billion is spent annually on the development of space systems.
* U.S. Defense spending on space has grown from around $15 billion in 2000 to more than $22 billion today and is forecast to reach $28 billion by 2010.
* India and China have joined the U.S., Europe, Russia, and Japan as having fully independent capabilities.
* Satellite-to-consumer television has become a $40 billion worldwide market.
* The markets for satellite radio and GPS positioning and tracking are being validated with growth measured in the billions.
* The successful launch of new satellite broadband services in the U.S. and Canada beginning in 2005 could improve the market for commercial infrastructure.
* The development of a substantial space tourism market would have a positive but disruptive influence on the industry, though it is not likely to happen before 2010.
"With the diversity of the sector ranging from Walmart's IT network to NASA Mars missions to the military's hunt for Al Qaeda, the size of the industry should not be a surprise," said Scott Sacknoff, President of the ISBC.
"Governments around the world look to the industry and see space and satellite technology, R&D, and services as vital to their nation. Commercial firms continue to see the industry as an opportunity."
The report states that, "now is a good time to be involved in the space and satellite industry. Whether one's focus is on military, civil government, or commercial activities, there are numerous opportunities -- government funding for space is on the rise, commercial orders for satellites and launches have rebounded and stabilized, new exploration initiatives are being pursued, and entrepreneurial efforts related to radio, broadband, and space tourism are generating excitement."
It cites U.S. export regulations under ITAR "the industry's most serious issue" and states, "what initially was a nuisance to businesses has evolved into a serious problem for U.S. industry."
Print copies can be obtained for $250 through the council's online bookstore. For more information, see www.SpaceBusiness.com.