(NewsNation) — New data shows military space spending hit $54 billion in 2022, led by the U.S. Department of Defense.
The Space Foundation’s report on the space economy examined 51 countries and governments, focusing on both commercial and government spending. The total space economy grew by $260 billion over the past decade and is forecast to continue to grow over the coming years.
The increase in military space spending came as global tensions rose across the globe, with the U.S. facing fears of future conflict with Russia over the war in Ukraine and China over Taiwan.
Both adversaries also invested heavily in space. China came in second to the U.S. in military spending, though the exact amount spent is unclear. That is in part because Beijing does not clearly separate military and civilian investments in space.
Russia also heavily invested in space spending, spending $257 on military space projects. The Pentagon, meanwhile, spent $43 billion on military space.
Other countries also increased space spending, including those potentially impacted by conflict with Russia or China. Those included Japan, which invested $688 million, a 75% jump over previous budgets and Poland, who increased its military space budget from $2 million to nearly $12 million.