African space economy valued at USD 24.95 billion, set to reach USD 39.52 billion by 2030

By:  Nana Appiah Acquaye

Africa’s space economy was valued at USD 24.95 billion in 2024 and is projected to grow to USD 39.52 billion by 2030, according to the African Space Industry Annual Report 2025 Edition released by Space in Africa.

The report, published by the boutique consulting and media firm known for its data-driven analysis of the continent’s space sector, estimates the industry will expand at a compound annual growth rate of 7.97 percent over the period. Space in Africa describes the publication as the definitive reference for understanding Africa’s space ecosystem and a trusted resource for global stakeholders involved in strategic planning.

The new valuation exceeds earlier projections published in the firm’s 2022 report, which estimated the African space industry at USD 19.49 billion in 2021 and forecast growth to USD 22.64 billion by 2026. According to the latest data, the industry has already surpassed that forecast by USD 2.31 billion, reaching the milestone two years ahead of schedule.

Space in Africa attributes the accelerated growth to sustained momentum across the public, private, and intergovernmental actors that make up the African space value chain. The report notes that the continent’s space activities are increasingly interconnected, with countries and institutions operating through partnerships rather than in isolation.

The valuation is based on a comprehensive bottom-up assessment of nine core segments of the African space industry, reflecting the full breadth of activities across the ecosystem. Beyond market size estimates, the report provides extensive analysis of satellite manufacturing trends, including procurement pipelines in 13 African countries, contractor partnerships, and cost breakdowns covering manufacturing and launch by mission type, orbit, and satellite size.

It also offers comparative benchmarking of national space programmes, analysing space budgets in relation to gross domestic product, defence spending, and per capita investment. The report maps more than 300 African space companies, categorising them by market reach and industry segment to highlight emerging opportunities for investors and entrepreneurs.

In addition, the publication examines national space policies across eight key African countries, assessing priorities and effectiveness while offering recommendations for strengthening governance frameworks. Geopolitical dynamics are also explored, including Africa’s engagement with global initiatives such as the Artemis Accords and the International Lunar Research Station, alongside an assessment of international partnership models.

The report further covers infrastructure and applications, with analysis of ground station distribution, Earth observation market trends, and the use of space-based services in sectors such as agriculture, disaster management, and natural resource monitoring. It also reviews major astronomy initiatives, including the Square Kilometre Array project, and provides an overview of active space projects and their funding landscape across the continent.

Space in Africa said the 2025 edition is intended to serve a wide range of stakeholders, including satellite manufacturers, investors, policymakers, telecommunications operators, development agencies, and academic institutions. The report analyses 65 satellites launched by African countries between 1998 and 2025 and outlines transparent valuation methodologies alongside actionable market insights.

The African Space Industry Annual Report 2025 Edition is available for purchase from Space in Africa.