The growing private space industry is built around these government space programs and would not exist without them. The UK’s annual US$500m contribution to the European Space Agency (ESA) has catalysed the formation of the fastest growing industry. Its private space industry contributes US$15.2 billion a year to the economy. Similarly, Japan’s US$2.3 billion into the Japan Aerospace Exploration Agency (JAXA) has enabled its private space industry to contribute US$31 billion.
Not only do space agencies pay for themselves directly, they create jobs and are boosting the global economy by US$300 billion annually through private industry.
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