BofA defined the space economy as the"full range of activities and the use of resources that create and provide value and benefits to human beings in the realm of exploring, understanding, managing and utilizing space," including research and development, the manufacturing of space infrastructure, and the scientific research tied to the industry.
The report said roughly 80% of the global space economy was connected to commercial space products and services as of 2021, while 20% was tied to government investments.
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