However, even with this growth, space industry stocks suffered along with the world economy in 2008, the report said.

The Space Foundation Index, which tracks the market performance of 29 public companies that derive a significant amount of their revenue from space-related assets and activities, revealed that space stocks in U.S. markets declined 45 percent in 2008, erasing the gains from three consecutive years of growth. Still, space investment and output remained strong in 2008 and continued to provide hundreds of thousands of highly compensated jobs.

The report also saw encouraging long-term outlook for the global space industry. "While the equity markets suffered, other measures of success -- employment, payroll, output, manufacturing and launches -- all grew and continue to improve year over year," said Pulham.

"Importantly, we're seeing the real benefits of our space investments in the form of almost daily scientific and technological breakthroughs. Meanwhile the number of space faring nations is growing almost as rapidly."

"The Space Report spells out many challenges," he added, "But, there's also innovation, advancement and real excitement about what's happening in space today."

Founded in 1983, the Space Foundation is an international nonprofit organization. It is sponsoring the 25th National Space Symposium, the premier annual gathering of the global space community, here from March 30 to April 2.

-- Click for more news in Tech Max >>

Editor:Yang Jie