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Q4 2022 Space Investment Quarterly
PUBLISHED
January 19, 2023
BY
Space Capital

Space technologies are playing an increasingly important role in the global economy:

  • With another $4.7B invested into 85 space companies in Q4, there has now been $272.3B of equity investment into 1,791 unique companies in the space economy over the past 10 years
  • With investment up 159% Q/Q, the market may have hit bottom in Q3 2022, which was the lowest quarter for investment in the Space Economy since Q4 2013.
  • Despite the market downturn, SpaceX was a clear outlier raising $2.0B of fresh capital in 2022, the company’s second largest annual raise. With $6.3B invested in 2022, Infrastructure saw its third largest year on record, with SpaceX accounting for 32% of the total.
  • In line with history, geopolitics will continue to be a driver of growth in the Space Economy going forward. National Security Space is now one of the fastest growing areas of the DoD budget and the 2023 Space Force budget of $26B ($1.7B more than requested) is now larger than that of NASA’s ($25B), for the first time.
  • Emerging Industries constitutes just 1% of all investment in the Space Economy over the past decade. Despite a 63% decline in investment in the category Y/Y, with $0.5B of investment, primarily in Stations, 2022 was the second largest year for investment in these emerging markets.

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