Source: Xinhua

04-02-2009 10:22

COLORADO SPRINGS, the United States (Xinhua) -- Despite the ongoing global financial storm, global space economy registered a record 257 billion U.S. dollars in revenues in 2008, according to a report released here Monday by U.S. Space Foundation.

Despite the ongoing global financial storm, global space economy registered a record  257 billion U.S. dollars in revenues in 2008. (File photo)

Total global space industry revenues reached 257 billion in 2008, nearly 2.5 percent increase from 2007, said "The Space Report 2009."

"Despite the immensely challenging economic time, the space business remains a good business," said Space Foundation Chief Executive Officer Elliot Pulham. "The Space Report clearly illustrates that, although our industry is also feeling the pain of the economic downturn, space businesses have out-performed many other sectors," he said.

According to the report, the largest segments of the space economy in 2008 were in commercial infrastructure and commercial satellite services, which together totaled 67 percent, compared to about 32 percent for government space spending.

The largest growth sectors were space products and services, which grew 10.4 percent from 82.4 billion dollars to 91 billion dollars. The majority of this figure is attributable to direct-to-home television services, which generated 69.8 billion dollars in 2008. Fixed satellite services showed the strongest growth rate in the services sector, with revenue up 31 percent from 12.8 billion dollars to 16.8 billion dollars.

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