Space Economy

The space economy is the business of building, launching, and operating spacecraft, plus the services delivered from orbit. It splits into an upstream segment that makes rockets and satellites and a downstream segment that sells data and connectivity off them. This pillar maps the U.S.-listed companies turning a roughly $613 billion market into a projected $1.8 trillion one.

Key takeaways
  • The space economy is the business of building and launching space hardware (the upstream segment) and selling services off satellites already in orbit (the downstream segment); this pillar maps the U.S.-listed companies in both.
  • The global space economy reached about $613 billion in 2024 and is projected to roughly triple to $1.8 trillion by 2035, averaging around 9% annual growth, faster than global GDP.
  • Launch cadence is the clearest sign of acceleration: 4,510 objects were launched into space in 2025, up from the prior record of 2,903 in 2023.
  • Representative U.S.-listed names span upstream (Rocket Lab, Intuitive Machines, Redwire, Firefly, Karman) and downstream (AST SpaceMobile, Planet Labs, Globalstar, EchoStar).

What is the space economy?

For decades space was a government program. The shift is that it is now a commercial market, and an investable one. The Space Foundation put the global space economy at about $613 billion in 2024 (Space Foundation). Most of that is already commercial rather than public spending, which is why a growing list of pure-play companies now trade on U.S. exchanges.

The market is split in two. Upstream space designs and builds the hardware and the rockets that carry it up. Downstream space uses satellites already in orbit to sell connectivity, imagery, and positioning. The two halves earn money very differently, and an investor should know which one a stock sits in.

Why is the space economy growing now?

Two things changed: launch got cheap, and demand for what satellites deliver went up. A World Economic Forum and McKinsey study projects the space economy will roughly triple to about $1.8 trillion by 2035, growing near 9% a year, faster than global GDP (World Economic Forum). The activity backs that up: 4,510 objects were launched into space in 2025, up from the prior record of 2,903 in 2023 (Yale Environment 360).

Space technologies are delivering greater value to a more diverse set of stakeholders than ever before, including in industries as varied as food and beverage, retail, consumer goods and lifestyle, supply chain and transportation, and even climate disaster mitigation.

— Sebastian Buckup, World Economic Forum (WEF)

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Concepts

Companies

Key terms

How can you invest in it?

The U.S. Space Tech concept covers the listed leaders across both segments. The Akros U.S. Space Tech Index is tracked by the TIGER US Space Tech ETF, a Korea-listed fund from Mirae Asset.

What are the risks?

This is one of the higher-risk corners of the market. Many of these companies are early, unprofitable, and cash-hungry, and a single launch failure or slipped program can move a stock hard. Government contracts and spectrum decisions matter as much as engineering, and valuations often price years of growth that has not arrived yet. Size the exposure accordingly.

Frequently asked questions

What is the space economy?

The space economy is the full set of businesses that build, launch, and operate spacecraft and that sell products and services derived from space. It is usually split into an upstream segment (rockets, satellites, spacecraft) and a downstream segment (communications, Earth observation, navigation). It reached about $613 billion in 2024 (Space Foundation).

How big is the space economy and how fast is it growing?

The space economy was roughly $613 billion in 2024 (Space Foundation) and is projected to reach about $1.8 trillion by 2035, around 9% a year (World Economic Forum).

What is the difference between upstream and downstream space?

Upstream space designs and builds the hardware (rockets, satellites, spacecraft) and the launch that puts it in orbit. Downstream space uses infrastructure already in orbit to sell services such as connectivity, imagery, and positioning. The two segments have very different economics and risk profiles.

How can you invest in the space economy?

Most listed exposure is through individual U.S.-listed companies across launch, satellites, and space services, grouped in the U.S. Space Tech concept. The Akros U.S. Space Tech Index is tracked by the TIGER US Space Tech ETF, a Korea-listed fund. Always check fees, holdings, and risk before investing.

Sources & references

  1. The Space Report 2025 Q2: Record $613 Billion Global Space Economy · Space Foundation, 2025-07-22
  2. Space Economy Set to Triple to $1.8 Trillion by 2035 · World Economic Forum, 2024-04-08
  3. Record Number of Objects Launched Into Space Last Year · Yale Environment 360, 2026-01-15
  4. Space Economy Market Size, Share & Forecast · Global Market Insights, 2025-10-01