Defense spending propels government space budgets to new heights

News Snapshot:

WASHINGTON — Global government space spending hit a record $135 billion in 2024, highlighting the growing militarization of space and shifting dynamics among spacefaring nations, according to a new industry report. The 24th annual Government Space Programs report by the consulting firm Novaspace shows government space budgets grew 10% from 2023, driven largely by defense-related investments that reached $73 billion. The surge reflects mounting concerns about space as a contested military domain alongside traditional theaters like air, sea and cyber. While the United States remains the dominant player with 59% of global government space spending, other countries like China are...