A new study by the U.S. Bureau of Economic Analysis has found that the output of the US space economy has been shrinking in recent years.
The study, which was published in the journal "The Economist," found that the space economy's output fell from $210 billion in 2012 to $190 billion in 2021. This represents a decline of about 10%.
The study's authors attributed the decline to a number of factors, including the rise of streaming services, which have led to a decline in demand for satellite television, and the increasing cost of launching rockets.
The study also found that the number of jobs in the US space economy has declined by about 5% over the same period.
The decline in the US space economy is a sign that the sector is facing some challenges. However, the study's authors also noted that the space economy is still a relatively small sector, and that it is possible for it to rebound in the future.
The study's findings come at a time when the US government is increasing its investment in space exploration. The Biden administration has proposed a budget that includes $25 billion for NASA, the highest level of funding in the agency's history.
The study's authors said that the government's investment in space exploration could help to boost the US space economy. However, they also noted that the sector will need to find new ways to generate revenue if it is to sustain its growth.
The shrinking US space economy is a challenge, but it is not insurmountable. With the right investment and innovation, the sector has the potential to grow and thrive in the years to come.