The global space economy grew 12.2 percent last year, with commercial activities contributing the most, according to a report released today by Colorado Springs-based Space Foundation.
Worldwide consumer demand for GPS devices and chipsets — processors used in devices such as computers and smartphones — and direct-to-home television powered the growth.
“The Space Foundation believes strongly that space is good business, with vast social and economic benefit,” said Space Foundation chief executive Elliot Pulham . “These data — demonstrating vigorous year-over-year growth in products, services and economic activity — prove it.”
The report, which will be released next week at the National Space Symposium in Colorado Springs, states the space economy increased to $289.77 billion in 2011.
The total comprises worldwide commercial revenues and government budgets compiled from original research and a wide variety of public and private sources and analyzed by Space Foundation researchers.
Ann Schrader: 303-954-1967 or aschrader@denverpost.com
