Space Economy Booms: Global Market to Reach $944 Billion by 2033

The space economy is experiencing rapid growth, with the global market projected to reach $944 billion by 2033. This expansion is fueled by advancements in satellite technology and increased investments in the sector, presenting significant opportunities for innovation and economic development.

Global Space Market Growth

The OECD defines the space economy as the full range of activities and the utilization of resources that create value and benefits for humans in the exploration, research, understanding, management, and utilization of space. SACE's latest focus underscores the global space market's estimated value of $596 billion in 2024, with projections reaching $944 billion by 2033, driven by telecommunications and satellite navigation.

Public investments in the sector reached approximately $135 billion in 2024, a 10% increase compared to the previous year, with defense spending accounting for about 54% of the total. Private investments in space also showed positive dynamics in 2024, increasing by 7%. European initiatives raised over $1.5 billion (+56%) through 99 operations, compared to 82 in 2023. Over the past five years, Europe's share in attracting global private investments has increased from 3% in 2019 to 22% in 2024.

Aerospace Technology's Economic Potential

Aerospace technologies hold economic potential capable of generating value from agri-food to logistics and healthcare. The integration of data from space can transform business models and foster innovation across numerous sectors. The aerospace sector has a very high technological and knowledge profile.

In Italy, the manufacturing of aircraft and spacecraft involves 145 companies, not including the entire supply chain, with over 50,000 employees, a turnover of almost €17 billion, and an added value of €5.8 billion. Compared to 2023, there has been a reduction in legal entities (-6.5%), but an increase in employees (+3.8%), turnover (+9.2%), and added value (+11.4%).

The Italian Space Sector: Key Figures

Specifically, the space sector has a value added per employee significantly higher than that of Italian industry in general (+65%). Companies operating in this specific supply chain have invested the most in Research & Development activities in the period 2023-2025 (67.8% compared to the Italian average of 16.6%).

According to Istat, the added value of this sector is €2 billion, employing over 23,000 people, exporting goods for €2.1 billion, and investing €1.3 billion. The active companies are larger and more international than the Italian average: large companies generate 78.2% of the added value (31.7% on average in Italy), and 90.4% of the added value comes from multinationals.

Before diving into the specifics, let's review the distribution of investments:

R&D Investment

Italian space sector companies have heavily invested in R&D:

Italy's Role in International Space Competition

The international demand for goods in this sector drives the various producers to strong international competition. Italy is among the main players, ranking as the tenth exporter with a weight in world exports of 1.7%. However, last year it recorded a negative performance (-15.1%), after three years of strong expansion with an average annual growth of about 18.6%.

Key Italian Space Sector Statistics

Here's an overview of the Italian space sector's key statistics:

May 2026 begin under the best star and make the Made in Italy sector shine for the attention and value it deserves.

Italian Aerospace Industry: A Closer Look

Let's take a closer look at the composition of the Italian Aerospace Industry:

Comparative Analysis (2023 vs 2024)

A year-over-year comparison reveals the following changes in the Italian aerospace sector:

The Future of Space Exploration

As we look forward, the space economy is poised for continued growth and innovation, driven by both public and private investments. Italy's role in this expanding sector remains significant, with opportunities for further development and international collaboration.