The report finds that the global government investment in space exploration totaled $27 billion in 2024. And this is projected to grow to nearly $31 billion by 2034.
The company believes lunar exploration will lead the expansion, with funding expected to rise from $12 billion to $15 billion. Mars exploration is projected to grow at an 11% annual rate, fueled by upcoming sample-return missions.
Mars
“Governments worldwide continue to recognize the strategic and scientific value of space exploration, even amid evolving budget priorities,” said Maria Lily Shaw, lead author of the report and Senior Consultant at Novaspace.
“While the Moon remains the immediate focus, particularly through programs such as Artemis, Mars exploration is rapidly gaining momentum and will define the next phase of deeper space initiatives.”
The report estimates that the United States will account for 63% of Space Exploration spending, ahead of China with 22% and the ESA with 6%. Japan will account for 2%, says Novaspace, with Russia accounting for 1%.
Note that it also forecasts nearly 330 lunar missions between 2025 and 2034, driven by a mix of government programs and private sector ventures.
Novaspace
The report contains an analysis of government and commercial space exploration programmes across five domains. These are: LEO Human Spaceflight, Moon, Mars, Other Deep Space, and Astronomy/Astrophysics.
There is also 10-year historical and 10-year forecast data on government funding by domain, country, and region.
A Premium element adds a full mission forecast database for government and commercial programs. This includes mission attributes by orbit, mass, operator, and region.
You can download the paid-for report online.
The Paris-based Novaspace is the result of a recent merger between Euroconsult and SpaceTec Partners.
See also: Seven tons of satellites to launch daily reports Novaspace
