2023 was a year that tested the resilience of startups, but despite hurdles,it was another year of extraordinary growth in the Space Economy.:
- With another $4.6B invested in Q4, there has now been $298.0B invested into 1,832 unique space companies over the past decade. Total investment in the Space Economy hit a decade low in 2023 due to record-low investment in Applications, as investors shied away from revenue-starved LBS.
- However, investment in Infrastructure remained strong, accounting for 70% of total 2023 investment and notching its second highest annual record, spurred by countercyclical revenue from government customers.
- With growing demand for satellite Infrastructure, Earth orbits are becoming increasingly crowded and Space Traffic Management will continue to be a key area of focus in the year ahead - along with the potential for new and expanded regulations.
- Another record for transportation to orbit was set in 2023 with 212 successful global launches. SpaceX accounted for nearly half of the total with 96, topping its previous annual record of 61 in 2022, and shows no signs of slowing.