Fueled by these multiple factors, global government investment in space exploration has grown in the past decade driven by programs in leading countries and joined by an increasing number of actors.

According to Euroconsult’s latest research, Prospects for Space Exploration 2nd Edition, global government investment in space exploration totaled nearly $20 billion in 2019, increasing at a 5% compound annual growth rate over the past five years.

The International Space Station remains the world’s largest international cooperation program to date and the cornerstone for human spaceflight.

To achieve these goals, global government investment for space exploration is forecast to increase to $30 billion by 2029.

The next decade promises numerous commercial exploration initiatives, significantly impacting the strategic planning of governments and their agenda for space exploration.

New public-private contractual schemes are taking shape, reflecting the willingness from space agencies to act as both a strategic partner and a potential future customer of commercial services to achieve a sustainable model for space exploration.

We are experiencing, for instance, the excitement of NASA’s Commercial Crew Program, including the first crewed launch to the International Space Station from the United States since 2011.

Within the private sector, the increase in private investment in the past decade has facilitated the emergence of new commercial exploration initiatives.

Investors remain more reluctant to fund space exploration initiatives due to the inherent high risks and long-term vision of this field, a reluctance which may be further exacerbated by the current global context.

International collaboration and public-private cooperation are expected to continue consolidating as an essential requisite in the public stakeholders’ exploration strategy and road map to achieve a sustainable model for space exploration moving forward.