Since the Earth’s atmosphere is transparent to electromagnetic radiation only in few rather narrow windows, space‐based observations are essential for understanding the nature of various astronomical objects. Present status of research in different portions of electromagnetic spectrum is briefly reviewed and some prospects of the development in the future are mentioned. Although space observations are costly, their impact on astrophysics is so substantial that nobody can ignore this area of research. As a consequence, the very nature of astrophysical research is subject to profound change.