21. About how much money is spent each year on developing space technology? (A K2S Question)

From The Space Library

NASA's budget this past year was around $16 billion. Most of that was spent on space-related projects, although some went to aeronautical projects, such as learning how to build better, faster, cheaper, quieter, and more fuel-efficient airplanes. If you throw in all the money being spent in the rest of the world (Russia, Europe, China, India, Pakistan, and Israel, primarily.) the total is probably close to $30 billion. If you add to that the money spent by private companies on things such as communication satellites and by armed forces around the world for spy satellites and other government agencies for weather and navigation satellites, the number becomes more like $100 billion.

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Answer provided by Ben Reytblat

Question and Answer extracted from the book Kids to Space - by Lonnie Schorer

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