The United States space industry delivers capabilities vital to America's economy, national security, and everyday life. America remains preeminent in the global space industry, but budget constraints, restrictive export policies, and limited international dialogue are inhibiting the U.S. space industry's competitiveness. To sustain America's leadership among space- faring nations, the incoming administration should update and expand U.S. space policies and regulatory guidance, prioritize national space funding, and promote greater international cooperation in space. These steps will strengthen U.S. space industry. They will also enhance U.S. national security, spur technological innovation, stimulate the national economy, and increase international cooperation and goodwill. This report examines the global space industry, with an emphasis on the U.S. and European space markets. First, it describes the organization of the U.S. and European markets and the common segments of these markets. It then analyzes the current condition of the space- related industries that serve these markets. It highlights several examples of growth and innovation at home and abroad. Finally, in more detailed essays, this report examines challenges to U.S. space preeminence and it proposes recommendations that will build on our space heritage and fulfill President Kennedy's vision of America as the world's leading space-faring nation. The space industry is global, composed of individual firms and national and intergovernmental organizations that cooperate and compete in a worldwide space marketplace. This study focused on the dominant U.S. and European space markets and key participating firms within those markets. The U.S. and European space industries organize differently to pursue national space goals. The U.S. industry supports national security, civil, and commercial sectors depending on the particular space mission objectives.


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