$270 billion.00. That's how much the global space economy is now worth,

according to a new report from the Space Foundation. The number, a record, represents growth of more than 7% in 2023 compared to the prior year.

Space Foundation CEO Heather Pringle says it's being driven by commercial space, as well as more spending by international governments.

So if you're taking a 7% growth year over year and frankly that's been consistent for some time now.

It's going to take about 10 years to get to that $1 trillion market.

And what it's going to take is continued investment, continued demand for space services, space products,

normalizing space in our everyday lives, but also there's an important thing we have to keep in mind

is that the growth of the space economy seems to be outpacing the workforce that's available to sustain it.

The nonprofit organization, which compiles the report annually, drew on more than 50 sources of

data across private and public sectors sectors ranging from dozens of countries.

On this episode, Pringle lays out what's propelling the space economy, what's holding it back,

and what has been the most surprising finding in the Space Foundation's

annual Space Report.

I'm Morgan Brennan and this is Manifest Space.

Joining me now Heather Pringle, CEO of the Space Foundation. It's so great to have you on you just came out with your annual space report and this is the Space Foundation's look at the global space economy. What's the headline here?

So the headline is that we are now at a 570 billion dollar global space economy.

This is really a big endeavor, Morgan. It's the

highest that we've seen in our 20 years of assessing the global space economy. This represents both commercial as well

as national security and international endeavors, international government

endeavors. And we take a fairly rigorous approach. We use over 50 data sources from the

commercial side as well as international governments and it's a reliable estimate that has been

showing the change in the global space economy over time. So we're talking about

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