Methodology

Measuring the Direction of the Space Economy

The Space Economy Index (SEI) is Etemion’s framework for measuring how the space economy is moving and developing over time.

The SEI is not designed to calculate the total monetary value of the space economy. Instead, it tracks its direction, momentum, and structural development through a consistent set of measurable signals.

The Measurement Structure

Each monthly SEI begins with the collection of relevant data. These inputs are organized into four Data Pools:

Competition

Measures changes in market activity, strategic positioning, major contracts, new participants, and competitive developments across the space economy.

Research

Tracks meaningful scientific research, technological progress, institutional programs, and developments that may contribute to future economic capacity.

Investment

Measures disclosed public and private capital entering space-related companies, infrastructure, programs, and projects.

Launch Activity

Tracks launch activity as a visible indicator of operational demand and infrastructure utilization. Constellation deployments are adjusted to prevent unusually large launch campaigns from disproportionately influencing the index.

From Data to Index

The information within each Data Pool is evaluated and converted into comparable Core Signals. In the initial version of the methodology, the four Data Pools receive equal weighting.

These signals are then combined to produce the Short-Term SEI, representing the condition and momentum of the space economy during the measured month.

After six months of continuous data, the methodology also produces:

• Long-Term SEI — a six-month weighted view that gives greater importance to more recent periods.

• Effective SEI — a combined measure consisting of 40% Short-Term SEI and 60% Long-Term SEI.

• Deviation — the difference between current momentum and the established longer-term direction.

A Developing Framework

The SEI is an evolving measurement framework, not a fixed or final law. Its methodology may be refined as data quality improves, new economic activities emerge, and a deeper understanding of the space economy becomes possible.

Any material methodological changes will be documented to preserve transparency and historical comparability.

The objective is not to claim perfect measurement from the beginning. It is to build a consistent system that becomes more accurate, useful, and representative over time.

The Purpose of SEI

The space economy is growing across industries, organizations, technologies, and regions. As its connections increase, understanding its overall direction becomes more difficult.

SEI is being developed to provide a shared reference point—a structured way to observe change, identify patterns, and gradually build a clearer understanding of the space economy.

Measure first. Understand next. Participate over time.