WASHINGTON (Reuters) - The slump in the global satellite market is
over, and government and commercial sales should reach $158 billion by
2010, up from $103 billion in 2004, according to an industry report
released on Tuesday.
"Now is a good time to be involved in the space and satellite industry,"
concluded the annual report compiled by the International Space Business
Council.
"Government funding for space is on the rise, commercial orders for
satellites and launches have rebounded and stabilized, new exploration
initiatives are being pursued and entrepreneurial efforts related to
radio, broadband and space tourism are generating excitement," it said.
The report said governments and businesses around the world spent more
than $18 billion each year on development of space systems, and India
and China had joined the United States, Europe, Russia and Japan with
fully independent capabilities.
U.S. defense spending on space alone grew to $22 billion in 2004 from
$15 billion in 2000, and was forecast to reach $28 billion by 2010, it said.
Other factors behind the market's reemerging strength were the $40
billion satellite-to-consumer television market, strong and growing
demand for satellite radio and Global Positioning Satellite and tracking
capabilities, it said.
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