ΔE 6.9, close: similar, with a visible difference side by side. Light Gray is more muted than Space Grey.
Usually, if you are not matching paint already on the model. Close match (ΔE 7). Light Gray is more muted than Space Grey.
The same difference applies the other way round: Space Grey is more saturated.
ΔE is the colour difference between our two swatch estimates: under about 6 is close, over about 15 is loose. Real paints also differ in finish, coverage and how they thin, so test before you commit.
See Space Grey on the colour wheel See Light Gray on the colour wheel
All matches: Space Grey equivalents · Light Gray equivalents