NZ’s Booming Space and Aviation Sectors Add Over $2.5 Billion to Economy

New Zealand’s space and advanced aviation sectors have reached new heights, contributing more than $2.5 billion to the national economy in the 2023–2024 financial year, according to a newly released report by Deloitte titled Innovation for Growth: Charting the Space and Advanced Aviation Sectors. The report, unveiled today by Space Minister Judith Collins, underscores the transformative role these fast-growing industries are playing in the country’s economic and technological landscape.

A Sector on the Rise

The report reveals that the space sector alone generated $2.47 billion, marking it as one of the most dynamic contributors to New Zealand’s high-tech economy. Meanwhile, the advanced aviation sector, which encompasses cutting-edge technologies such as drone systems, electric aircraft, and urban air mobility solutions, brought in $480 million.

“These numbers tell a story of remarkable growth,” Minister Collins stated. “With revenue rising by 53 percent over five years, our space industry is outpacing the global space economy. This is a success story all New Zealanders can take pride in.”

Homegrown Innovation and Job Creation

One of the report’s key findings is the local nature of this growth. An impressive 78 percent of surveyed companies in the space and advanced aviation sectors reported that more than half of their workforce is made up of New Zealanders. This homegrown foundation has helped boost employment significantly.

“In just five years, these sectors have added 5,000 jobs, increasing from 12,000 in 2019 to over 17,000 today,” said Collins. “We’re not just building technology; we’re building careers and communities across the country.”

From research labs and aerospace manufacturing hubs to launch sites and drone technology developers, the sectors are touching all corners of New Zealand. Companies operating in this space are not only attracting billions in investment but also driving local innovation, fostering scientific excellence, and enhancing New Zealand’s international reputation.

Ambitious Goals for the Future

To maintain this momentum, the government has set a bold target: doubling the combined economic contribution of the space and advanced aviation sectors by 2030. This goal reflects both confidence in the sector’s trajectory and a commitment to supporting its continued expansion.

One of the pillars of this strategy is regulatory support. Last year, the government introduced a “light-touch” regulatory approach designed to offer companies flexibility while maintaining safety and accountability. Combined with New Zealand’s geographic advantages—such as vast airspace and low levels of atmospheric interference—this approach is helping to position the country as a premier destination for aerospace innovation.

Cultivating Future Talent

In addition to fostering growth among existing companies, the government is focused on inspiring the next generation of innovators. Applications for the Prime Minister’s Space Prizes will open on May 12. These prestigious awards aim to recognize and support both professional and student achievements in the space and aviation fields.

“It’s essential that we encourage our young people to explore careers in these sectors,” Collins emphasized. “Whether you're designing satellites, piloting drones, or working in aerospace software, there are exciting futures being built right here in New Zealand.”

Looking Ahead

As global interest in space exploration, satellite communications, and advanced aerial technologies continues to rise, New Zealand is poised to be a key player in the international arena. The findings of the Innovation for Growth report paint a picture of a sector that is resilient, future-facing, and deeply integrated into the national economy.

The full report is available on the Ministry of Business, Innovation and Employment (MBIE) website for those interested in exploring the data and insights in more detail.