– Euroconsult, the leading international consulting and research and firm specializing in the space and satellite sectors, announced the findings of its just-published report “Government Space Markets, World Prospects to 2020.” According to the report, government spending on space hit a number of major milestones in recent years, including a historic peak in combined government spending of $71.5 billion in 2010. However, after 10 years of spending increases across the globe, this trend is about to come to a halt. According to Euroconsult, public space program financing will slow dramatically in the next five years due to several factors.

“Government investments in many space applications are cyclical, particularly when related to the procurement of operational systems,” said Steve Bochinger, President of Euroconsult North America.  “Defense procurement, which has driven budget growth for a decade --particularly in the United States – is a typical example. Furthermore, following stimulus funding allocated to space projects to support national economies and innovation, most governments have returned to more stringent budget spending. This has already resulted in cutting non-priority budget items and, potentially, space programs.”

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