Space report: Global revenue $314.7 billion

The Space Symposium’s opening ceremony Monday night was coupled with the release of the Space Foundation’s “Space Report 2014: The Authoritative Guide to Global Space Activity.”

Compiled from research by public and private entities, the report provides an analysis of positive trends.

According to the report, the global space economy grew during 2013 to revenues of $314.7 billion among commercial and government entities — a 4 percent increase from $302.2 billion in 2012.

Despite sluggish government space activity in the U.S. — with an average decrease of 1.7 percent in spending — commercial activity did much to drive that global increase, according to the study. Since the beginning of the recession in 2008, the report indicates that the space economy has grown by 27 percent.

“Substantial space budget cuts in the United States outweighed gains in Canada, India, Russia, South Korea, and the United Kingdom, all of which increased budgets by 25 percent or more,” according to the 160-page report.

The Space Foundation also reported a spike in the number of rocket launches in the past year, despite the decline in direct NASA activity.

— Cameron Moix