SpaceQ Space news and analysis.
The Canadian Space Agency released its 2010 State of the Canadian Space Sector Report yesterday. The report indicates that revenues in the sector were up 14% over the 2009 and reached $3.4 billion and that 692 new positions were added to the sector, an increase of 9.2%.
Domestic revenues increased to $1.735 billion, a 13% growth. Export revenues reached $1.703 billion, a 14% growth over 2009.
According to the report revenue growth in 2010 was almost entirely driven by $403 million increase in revenues from the Satellite Communications sector, a 97% growth over 2009.
However unlike the previous year, most of the growth was dominated by the top Canadian space sector companies while smaller firms did not fare as well.
Navigation and Space Sciences made modest gains of $18 million and $1 million each while Robotics, one of Canada’s key strengths decreased in revenues to a total of $106 million. Earth Observation, also a strong sector decreased by 1% with $256 million in revenues.
The U.S. still remains Canada’s top export market accounting for 50% of the exports followed by Europe at 31% and then Asia at 9%.
In the message from the President, Dr. Steve MacLean said “Throughout the global economic crisis and recovery of the past few years, it has become apparent that Canada has one of the most resilient economies within the G-8. Canada’s continued economic stability has provided a solid foundation for progress in the space sector and in turn the Canadian space sector makes a valuable contribution to strengthening the Canadian economy as a whole.”
Download the report.
