Home Science Government to fund $20 billion for the space exploration by 2027

Government to fund $20 billion for the space exploration by 2027

0
SHARE

As per the latest reports of the Euroconsult’s, the prospects for Space Exploration as well as global investment in the space exploration has been totaled by $14.6 billion in the year 2017. This was said to be an increase of about 6 per cent when it is compared with 2016.

The reports show that about 15 leading space programs which are spread worldwide are estimated to be contributing to the global investment with the US. This accounts around 74 per cent of the total investment. As per Global expenditures, it has grown in the past that about five years of driven by the programs is in the leading countries as the new countries are now investing in the space exploration. It is still said to be the constraint budgetary environment as it is expected that it will grow by $20 billion by the year 2027.

According to Natalia LarreaBrito, who is the Senior Consultant at Euroconsult as well as editor of the report said that they are doing the future funding of the space exploration that will help in achieving the ambitious plans of the next decade. The national investments will remain as constrained by the public finance environments that should dictate the realistic as well as pragmatic investment strategies. Space exploration is said to be attracting not only the interest of the increasing number of governments but also the private sector.

She added by saying that the start-ups to the large companies which will seek to exploit the commercial potential of the exploration activities. These agencies will increasingly seek to leverage the partnerships which are with the private sector to achieve the goals that are more cost-effective when it is going for the fostering sustainable space exploration.

It has been seen that in the last six years about 19 planetary missions are launched by six countries.

LEAVE A REPLY