Space Economy Leaders Meeting 20
About Space Economy
- The space economy represents all public and private actors involved in developing and providing space products and services to end users.
- The space economy involves a long chain of added value, from actors in research and development through manufacturers of space devices and equipment, to providers of space products and services that are offered to end- users.
- According to Stanley Morgan’s report for the year 2018, the size of the space economy in the world is (360) billion dollars, and it is expected to reach (1.1) trillion dollars in the year 2040 AD, and (2.7) trillion dollars in the year 2050 AD.
- The G20 countries dominate (92%) of the world’s space economy in 2018 AD, and this equates to $ 320 billion divided into two parts:
- Government spending worth (66) billion dollars, which represents civil spending (63%), and military spending: (37%).
- The private sector revenues of $ 254 billion are concentrated in (6) activities according to the following distribution:
- (36%) services and applications for communication via satellite.
- (23%) chips and receivers for satellite navigation
- (23%) ground equipment and devices
- (9%) manufacturing satellites
- (5%) Space applications and remote sensing
- (4%) services for launching vehicles and human space flights
- There is a great variation in the size of the space economy in the G20 countries, as the average government spending on space programs in 2018 in these countries reached (3.3) billion dollars, while the median reached (0.75) billion dollars.
The total government spending on the space sector in the (5) largest economies in space represented approximately (87%) of the total government spending in the G20 countries, while the total government spending in (15) countries represented (13%).
space economy in the G20 countries
Advanced countries in space economy
USA, China, Russia, France, Japan
Developed countries in space economy
Germany, the European Union, India, Italy, Britain, South Korea, Canada, South Africa, Australia, Brazil, Argentina, Indonesia, Mexico, Saudi Arabia, Turkey,
About the Space Economy Leaders Meeting – Space20
- Seize the opportunity of Saudi Arabia presidency of G20 2020 by creating an exceptional and historic initiative to promote space cooperation.
- The initiative is to create a high-profile meeting focusing on space economy called the (Space Economy Leaders Meeting-Space20) to be held in 7 October 2020.
- The Saudi Space Commission will play an essential role in creating the “Space Economy Leaders Meeting”, sponsoring it and ensuring its sustainability. A governance model for Space Economy Leaders Meeting-Space20 should be created to manage it in the future.
- As preventive measures continue to limit the spread of the COVID-19 virus, it has been decided to hold the meeting in a virtual format for the year 2020.
Saudi Space Commission (SSC) hosted by Saudi Secretariat as part of the International Conferences Program, honoring the G20 Saudi presidency year 2020.
- Space Agencies in G20 countries
- Increasing awareness about space economy, its contribution to global economy and its support to global economic stability.
- Shaping new frontiers in the global economy by promoting space cooperation and collaboration.
- Contributing to international efforts on the peaceful use of space and maximizing its economic benefits.
- Date: Wednesday, 7 October 2020 – Time: from 14:30 to 16:10 – Duration: 100 minutes
- The event will be virtual
- The first version of the “Space Economy Leaders Meeting – Space20” will be moderated by a joint effort between SSC, UNOOSA, OECD and KPMG.
Top space officials – Heads of space agencies in G20 countries.
- Top officials from international organizations related to space.
- Heads of space R&D in G20 Countries
- Heads of international relations in G20 countries Space Agencies.
- Top officials in Saudi space sector.
The Saudi Space Commission is organizing 2020’s first meeting of space agency leaders that belong to G20 countries.