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The space economy has made remarkable progress in the last five years and is expected to grow rapidly over the next few decades. According to Our World in Data, 2022 will see a record number of objects launched into space, continuing the positive upward trend that began in 2019. The United States sent 1,796 objects into space last year, far ahead of the rest of the world. margin. The next closest country is China, and in 2022 she sent 131 objects into orbit. The U.S. Chamber of Commerce, along with investment banks including Morgan Stanley, predict that the space economy will grow to her over $1 trillion by 2040, creating more than 1.5 million jobs. Recent advances have increased the importance of public-private partnerships to develop the space market and manage anticipated challenges such as space traffic and security threats. Private equity and venture capital investments have played a key role in the expansion of the space sector. Investors have poured more than $270 billion into the space economy since 2013, although investment slowed last year in the face of worsening economic conditions.
Source: Our world in data
Will Hannah I am a 2023 College Associate at the Manhattan Institute
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