Tweet on Twitter (MENAFN- GlobeNewsWire - Nasdaq) Space launches, once rare, are now frequent as companies like SpaceX pushed the space economy to $421 billion in 2024, with a projected increase to $511.2 billion by 2029. The private sector, fueled by tech advances, rivals aerospace giants in cost-effective launches, with major mergers shaping the competitive landscape. Dublin, June 09, 2025 (GLOBE NEWSWIRE) -- The "Strategic Intelligence: The Space Economy" report has been added to ResearchAndMarkets.com's offering. Space launches used to be rare, memorable events of global significance. Today, the launch of rockets carrying multiple satellites into orbit is increasingly commonplace. SpaceX alone launched 138 rockets in 2024. The analyst estimates the space economy market was worth $421 billion in 2024 and will reach $511.2 billion by 2029, growing at a compound annual growth rate (CAGR) of 4% over the five-year period. Key Highlights Space is no longer the sole domain of governments and incumbent aerospace and defense companies. Technological advances in manufacturing, propulsion, and the launch of rockets have made it much easier and less expensive to venture into space. Those businesses that pursued emerging opportunities have gained a first-mover advantage. SpaceX was the first private company to launch a spacecraft into orbit and return it safely to Earth. Today, it charges clients $69.5 million per launch of the Falcon 9, its partially reusable medium-lift launch vehicle. The sector has become incredibly competitive, with various start-ups developing similar concepts for cost-effective rockets and satellites to rival the aerospace giants. The large satellite groups continue to consolidate to compete with Starlink and the future Amazon Kuiper mega-constellations. Eutelsat and OneWeb merged in 2022, Viasat acquired Inmarsat in 2023, and SES acquired Intelsat in 2024. This market consolidation will continue. Report Scope The space economy can be broadly defined as the full range of activities that create value and benefits for humans while exploring, researching, understanding, managing, and using space. Space is an extensive industry, and a vast number of companies are helping drive this new economy. From equipment manufacturers to space operations, applications, and services, these comprise many of the world's most technologically advanced and innovative organizations. Understand the impact of the space economy theme. Access the latest data on the space economy theme across all sectors. Identify the leading technological advancements increasing investment into the space economy theme. Understand what leading players are doing in the space economy theme. Key Topics Covered: