Measuring the US Space Economy

Tina Highfill, PhD

November 3, 2021

2021 FCSM Research and Policy Conference 
BEA Statistics

2

Gross domestic product (GDP) measures the value of the final goods and 

services produced in the US
Economic Accounts

3

System of National Accounts (SNA) provides the international standards 

for compiling macro-economic statistics. In addition to these core set of 

accounts, the SNA established satellite accounts, which are linked to the 

central framework of national accounts 
Economic Accounts

4

System of National Accounts (SNA) provides the international standards 

for compiling macro-economic statistics. In addition to these core set of 

accounts, the SNA established satellite accounts, which are linked to the 

central framework of national accounts 

BEA satellite accounts include: Space Economy, Digital Economy, Outdoor 

Recreation, Ocean Economy, and more
Overview of Space Economy Methodology

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Step 1: Identify space-related commodities (goods and services) within 

BEA supply-use tables
Overview of Space Economy Methodology

6

Step 1: Identify space-related commodities (goods and services) within 

BEA supply-use tables

Step 2: Isolate space-related economic activity within commodities, 

when necessary
Overview of Space Economy Methodology

7

Step 1: Identify space-related commodities (goods and services) within 

BEA supply-use tables

Step 2: Isolate space-related economic activity within commodities, 

when necessary

Step 3: Use BEA supply-use tables to determine total space-related 

economic activity by industry
Defining the Space Economy

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OECD definition serves as our foundation

“The Space Economy is the full range of activities and the use of resources that create and 

provide value and benefits to human beings in the course of exploring, understanding, managing 

and utilising space” (OECD, 2012, OECD Handbook on Measuring the Space Economy). 
Defining the Space Economy

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OECD definition serves as our foundation

“The Space Economy is the full range of activities and the use of resources that create and 

provide value and benefits to human beings in the course of exploring, understanding, managing 

and utilising space” (OECD, 2012, OECD Handbook on Measuring the Space Economy). 

The space economy consists of space-related goods and services, both 

public and private. This includes goods and services that:

1. Are used in space, or directly support those used in space 

2. Require direct input from space to function, or directly support those that do

3. Are associated with studying space
Source Data to Estimate Space Activity

10

10

Primary Data Sources

Launch services, insurance, education, 

observatories, planetariums

Space vehicles; space weapons; satellites; 

ground equipment; search, detection, 

navigation, and guidance systems 

(GPS/PNT equipment)

Manufacturing, 

Retail trade, and 

Wholesale trade

Telecommunications, broadcasting, 

software Information

Other various 

services

Research and development; engineering 

and technical services; computer systems 

design; geophysical surveying and 

mapping services 

Professional and 

business services

Military, civilian, federally funded 

research and development centers Government Public budget documents; National Science Foundation 

(NSF) Survey of Federal Funds for Research and 

Development; BEA supply-use tables

Economic Census product line data; BEA supply-use 

tables

Construction Space facilities, observatories, planetariums Census Value of Construction Put in Place (VIP); BEA 

supply-use tables

BLS OES; NSF Survey of Federal Funds for Research and 

Development; NSF Business Enterprise Research and 

Development Survey; BEA supply-use tables

Bureau of Labor Statistics (BLS) Occupational 

Employment Survey (OES); Federal Communications 

Commission (FCC) Securities and Exchange Commission

(SEC); BEA supply-use tables

National Center for Education Statistics Integrated

Postsecondary Education Data System (IPEDS); Federal 

Aviation Administration; MITRE; Public documents; 

BEA supply-use tables

US Space Economy Components
Estimating Space Activity: Satellites

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Step 1: Identify relevant commodities within supply-use tables

Commodity Code Commodity Description

334220 Broadcast and wireless communications equipment
Estimating Space Activity: Satellites

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Step 1: Identify relevant commodities within supply-use tables

Step 2: Separate space and non-space economic activity within commodities

Product Code Product Description 2012 Shipments ($000s)

33422051 Radio station equipment 2,898,376 

3342205104 Space-based (satellite) stations 2,103,391 

3342205109 Airborne and marine-based stations 183,027 

3342205114 Earth fixed-based systems 131,371 

3342205116 Earth mobile-based systems 480,587 

Commodity Code Commodity Description

334220 Broadcast and wireless communications equipment

→Census manufacturing data serve as the foundation for BEA’s supply-use tables. Their product line data 

provides detailed information about manufacturing products

Source: US Census, “Manufacturing: Subject Series: Product Summary: Products or Services Statistics: 2012”, EC1231SP1
Estimating Space Activity: Engineering Services

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Step 1: Identify relevant commodities within supply-use tables

Commodity Code Commodity Description

541330 Engineering services
Estimating Space Activity: Engineering Services

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Step 1: Identify relevant commodities within supply-use tables

Step 2: Separate space and non-space economic activity within commodities

Commodity Code Commodity Description

541330 Engineering services

→Bureau of Labor Statistics data for 2018 indicate 1.03% of employees in the engineering services industry 

were aerospace engineers

Source: Bureau of Labor Statistics, 2018 Occupational Employment Survey, https://www.bls.gov/oes/2018/may/naics5_541330.htm
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Space Economy, 

2018

Gross output $178 billion

Value added $109 billion 

Private employment 356,000 

Private compensation $41 billion

Percent of US, 

2018

0.49

0.53

0.30

0.46

Space Economy Results

Space Average Annual 

Growth Rate, 

2012-2018 (%)

1.5

2.1

0.3

0.5

Gross output is the market value of goods and services produced by an industry

o Represents revenue or receipts, commodity taxes, other operating income, and inventory change

Value added (GDP) is the market value an industry adds in production

o Value added = Gross output - Intermediate inputs 
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Space Economy, 

2018

Gross output $178 billion

Value added $109 billion 

Private employment 356,000 

Private compensation $41 billion

Percent of US, 

2018

0.49

0.53

0.30

0.46

Space Economy Results

Space Average Annual 

Growth Rate, 

2012-2018 (%)

1.5

2.1

0.3

0.5

US Average Annual 

Growth Rate, 

2012-2018 (%)

3.9

4.1

2.0

4.5

Gross output is the market value of goods and services produced by an industry

o Represents revenue or receipts, commodity taxes, other operating income, and inventory change

Value added (GDP) is the market value an industry adds in production

o Value added = Gross output - Intermediate inputs 
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Smaller industry groups in grey include: construction; retail trade; educational services; utilities; transportation and warehousing; agriculture, forestry, fishing, and mining; finance, 

insurance, real estate, rental, and leasing; health care and social assistance; other services, except government; arts, entertainment, recreation, accommodation, and food services. 

5 5 5 5 6 7 8 7 7 6 7 7 7 7 

18 18 19 19 20 20 21 

23 25 26 29 31 32 33 

53 54 52 51 50 50 48 

57 60 63 66 65 65 61

2012 2013 2014 2015 2016 2017 2018

Information

Manufacturing

Wholesale trade

Government

All other

Professional and business services

Space Economy Gross Output by Industry, 

2012-2018 (billions of current dollars)

$163 $170 $172 $177 $178 $179 $178
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Space Economy Gross Output Growth, 2012-2018

2.2

1.6 1.6

-0.7

-0.05

-1.8

0.9

-1.3

-0.9

-0.5

-0.2

-0.8

1.0 

0.8 

1.7 

0.8 

0.6 

0.8 

2013 2014 2015 2016 2017 2018

4.3%

1.1%

3.3%

0.4% 0.7%

-0.9%

Manufacturing

Wholesale Trade

Information

Annual growth in 

the US Space 

Economy 

Contributions to 

growth 

(percentage points)
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Space Economy Results 

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Manufacturing and Information sectors dominate US Space Economy

o Wholesale trade is a large and growing contributor
Space Economy Results 

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Manufacturing and Information sectors dominate US Space Economy

o Wholesale trade is a large and growing contributor

Average compensation is very high relative to the US average

o Space Economy average compensation for private industries in 2018 was $115,700 versus 

$68,900 for all private industries 
Space Economy Results 

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Manufacturing and Information sectors dominate US Space Economy

o Wholesale trade is a large and growing contributor

Average compensation is very high relative to the US average

o Space Economy average compensation for private industries in 2018 was $115,700 versus 

$68,900 for all private industries 

Data are in current dollars, meaning they are not adjusted for inflation 

o Growth rates reflect changes in price and quantity
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Infographic Smaller graphics 

for social media

Methodology paper

bea.gov/data/special-topics/space-economy

Additional Release Materials
Next Steps and Future Research

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Collaborations with US and international space and statistical agencies 

Contact: Tina Highfill at Tina.Highfill@bea.govor SpaceEconomy@bea.gov
Next Steps and Future Research

25

Collaborations with US and international space and statistical agencies 

Expect to revise and update estimates in 2021 using input from BEA staff 

and external experts

Contact: Tina Highfill at Tina.Highfill@bea.govor SpaceEconomy@bea.gov
Next Steps and Future Research

26

Collaborations with US and international space and statistical agencies 

Expect to revise and update estimates in 2021 using input from BEA staff 

and external experts

Possible expansions include

o Adding additional years

o Inflation-adjusted gross output and GDP

o Government employees and compensation

Contact: Tina Highfill at Tina.Highfill@bea.govor SpaceEconomy@bea.gov