Once the Domain of States, Private Sector Now Dominates 76 Percent of Space Economy

The private space industry now accounts for 76% of the $330 billion space economy—eclipsing government spending on space.
Once the Domain of States, Private Sector Now Dominates 76 Percent of Space Economy
SpaceX's CRS-5 Dragon seen in orbit, March. 12, 2014. SpaceX
|Updated:

The commercial space industry has hit a rough patch. The dramatic June 28 explosion of SpaceX’s Falcon 9 rocket—meant to deliver supplies to the International Space Station (ISS)—was the third private spacecraft in a year to meet with disaster.

Last October, Orbital Sciences Corp.’s Antares rocket exploded seconds after liftoff, crashing back into the launch center in flames. Three days later, a test flight of Virgin Galactic’s SpaceShipTwo broke up over the Mojave Desert killing one pilot and seriously injuring the other.

Cindy Drukier
Cindy Drukier
Author
Cindy Drukier is a veteran journalist, editor, and producer. She's the host of NTD's International Reporters Roundtable featured on EpochTV, and perviously host of NTD's The Nation Speaks. She's also an award-winning documentary filmmaker. Her two films are available on EpochTV: "Finding Manny" and "The Unseen Crisis"
Related Topics