According to a recent report from the International Space Business Council, worldwide revenues generated from the commercial and government space programs will surpass $158 billion in 2010.

Other findings in the organization’s “2005 State of the Space Industry” report include a forecast that U.S. defense spending on space will grow from $22 billion today to $28 billion by 2010 and the markets for satellite radio and GPS positioning and tracking are “being validated with growth measured in the billions.”

“Now is a good time to be involved in the space and satellite industry,” the report said. “Whether one’s focus is on military, civil, government or commercial activities, there are numerous opportunities – government funding for space is on the rise, commercial orders for satellites and launches have rebounded and stabilized, new exploration initiatives are being pursued and entrepreneurial efforts related to radio, broadband and space tourism are generating excitement.”