Space is big business, and a new report by a congressional watchdog agency underscores that fact. According to the Government Accountability Office (GAO), the U.S. government plans to spend almost $44 billion over the next five years to develop, buy and support systems that launch satellites and other spacecraft.

The major recipients of the funding will be the nation’s two “launch agents”: the Department of Defense (DOD) and NASA, according to the GAO’s Sept. 9 report. DOD’s Evolved Expendable Launch Vehicle program buys launch vehicles for military and intelligence satellites. NASA is responsible for the transport of crew and cargo to the International Space Station and is developing the Space Launch System to support human deep-space exploration.

Procurement will consume $28.4 billion, or almost two-thirds of the projected spending. Research, development, test and evaluation will take up another $11.3 billion, including about $7 billion for the Space Launch System. The last category, “other,” which includes operations, maintenance, personnel and construction of facilities, will account for the remaining $4.2 billion.

Total spending will remain relatively stable over the five-year period: $8.5 billion in fiscal year 2014, $9.1 billion in FY 2015, $9 billion in FY 2016, $8.8 billion in FY 2017 and $8.5 billion in FY 2018.

But whether these planned funding levels will become reality is unclear, especially as belt-tightening continues across the federal government. The GAO said its report is designed to give lawmakers greater insight into spending on launch-related activities and infrastructure – and help them find ways to save money.

“This funding represents a significant investment on the part of the government,” the GAO wrote.

“This information should help to inform plans to lower launch costs, increase competition, and invest in new programs.”

The report was requested by Sens. Carl Levin (D-Mich.) and John McCain (R-Ariz.), the chairman and ranking member, respectively, of the Senate Homeland Security and Governmental Affairs Committee’s investigations panel. The GAO described the document as an initial step in addressing a broader request to assess “impediments to economical procurement of government launch vehicles and launch services.”

Levin and McCain had no immediate comment on the GAO’s findings.

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Marc Selinger is a journalist based in the Washington, D.C., area. He can be reached at marc2255@yahoo.com. Follow him on Twitter at @marcselinger.