Bloomberg pointed to an increase in US spending on defense and space development

US spending on defense space increased by 7.7% compared to last year and amounted to $49.5 billion, which exceeds the figure by 2.3% of all other countries. This was reported by Bloomberg on July 22.

It is noted that Washington's costs will continue to grow as the administration of American leader Donald Trump moves forward with a project to implement the Golden Dome missile defense system.

At the same time, the total volume of the global space economy, including revenues from commercial space products, services, infrastructure and support industries, as well as government budgets, increased by 7.8% to $613 billion in 2024 and is expected to reach $1 trillion by 2032, according to data from the Space Foundation report for the second quarter of 2025..

In addition, Trump's tax bill provides for the allocation of $16 billion in 2026 for space equipment to prevent attacks and at least $7.2 billion for new satellites to detect drones, missiles and hypersonic vehicles.

More SOYBEANS: Trump wants to spend record amount on defense

The US president has released a draft budget for the next fiscal year.

The Reuters news agency reported earlier in the day that Trump was looking for alternatives to billionaire Elon Musk's SpaceX to implement the Golden Dome project. The reason was the desire of the authorities to reduce dependence on a single supplier, the publication clarifies.

In May, the American leader said that the "Golden Dome" is necessary for the United States to survive. According to Trump, the country's administration plans to allocate about $175 billion for it.

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