The article provides a comprehensive overview of global space activities in 2008/2009 with a special focus on Europe. It first acknowledges the transversal nature of space activities by linking them to the broader economic and political trends. It then analyses worldwide space policies and strategies, focusing on international institutions and on national space policies. Similarly, worldwide space budgets and revenues are compiled and compared, both from an institutional and a commercial perspective. The most significant trends and evolutions in the space industry are also highlighted. Finally, the security dimension of space is illustrated, looking at military space policies around the world.