Space Daily, Mar 29, 2012
Government space expenditures reached nearly $40 billion for civil programs. The upcoming three to five years shall be characterized by continued budget pressure in leading countries, including U.S., Europe, Japan, and Canada, along with the need to define a coherent long term strategy for their space programs; more reasonable growth of expenditures in Russia; continuous expansion in new leading countries (China and India); and continuous dynamic programs in emerging countries.
Euroconsult has announced that global budgets for space programs have reached a plateau of roughly $70 billion, confirming a slowdown in expansion experienced by the space industry for the last 10 years. According to Euroconsult's new report "Profiles of Government Programs: Analysis of 60 Countries and Agencies," space programs received a short-term boost in recent years from several governments to counter the economic crisis. However, they must now undergo even more stringent budget constraints exemplified by the European public debt crisis and the U.S. Budget Control Act of 2011.
In addition, the decrease of global funding for space programs is also the consequence of the inherently cyclical nature of public investment in certain space applications and programs, particularly when related to the procurement of operational systems. New leading and emerging space programs in Asia, Latin America and Middle East/Africa will represent the first budget growth driver confirming a changing environment for the global space sector.