The government says New Zealand's space sector has huge potential for growth beyond the $1.7 billion it already contributes to the economy.
A Deloitte report commissioned by the Economic Development Minister Phil Twyford says the industry employs, both directly and indirectly, 12,000 people.
Mr Twyford says the $1.7 billion contribution in the past financial year shows New Zealand has a globally unique and diverse 'New Space' economy driven almost entirely by the private sector.
Successful New Zealand-based company Rocket Lab has played a key part in the growth.
