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Experts estimate economic return from Russia's 2025 space program at $32 billion

May 21, 2015, 11:51 UTC+3
According to earlier reports, the financing of the federal space program under the revised draft was cut to roughly $40 billion
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© EPA/TASS/SERGEI ILNITSKY

MOSCOW, May 21. /TASS/. The implementation of the federal space program for 2016-2025 and the use of the newly-created space technologies in the social, economic and research spheres will yield an economic benefit estimated at 1.58 trillion rubles (roughly $32 billion), as follows from recommendations presented by the council of experts for the air and space complex under the State Duma’s industry committee.

"The implementation of the 2025 space program will allow for achieving an aggregate economic effect of 1.579 trillion rubles: 945 billion rubles in space communication and television and radio broadcasting, meteorology - 122 billion rubles, exploration for natural resources - 99 billion, geodesy - 51 billion, ice situation control - 87 billion, monitoring of forest fires - 53 billion, and dual purpose complexes - 222 billion, the recommendations say.

Also, the recommendations say that space rocket industry enterprises will contribute to the budget 452 billion rubles of commercial space project revenues.

Experts believe that the 2025 federal space program will allow for addressing such tasks as deployment of the minimum required composition of orbital clusters for personal communication and signal re-transmission, remote sensing of the Earth, hydrometeorological support and also creation and development of a distribution network of centers for gathering, processing and presenting results of space activity.

According to earlier reports, the financing of the federal space program extending till 2025 under the revised draft was cut from 2.8 trillion roubles to 2 trillion (roughly $40 billion).

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