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SPACEFOUNDATION
THESTATEOFTHE
GLOBAL
SPACE
ECONOMY
2026AnalysisofCommercialandGovernmentSpace|2026MidyearLaunchReport
THESTATEOFTHE
GLOBAL
SPACE
ECONOMY
SPACEFOUNDATION
TABLEOFCONTENTS
SpaceEconomyHitsDouble-DigitGainFortheSecondTimeThisDecade 1
CommercialSpaceRevenueRises13%from2024 3
AsNationsArm,SpaceDefenseBudgetsCouldTopS150BWorldwideinFY27 25
GovernmentSpaceBudgetsIncreaseto$141Billion 37
EmergingTechnologiesBoostSpaceCapabilities,Investments 46
AtMidyear,2026onTrackForRecordOrbitalLaunchPac 55
Endnotes ……………60
SPACEFOUNDATION
SpaceEconomyHitsDouble-DigitGainFortheSecondTimeThisDecade
Theglobalspaceeconomyclimbed12%year-over-yeartoreach$686billionin2025,drivenbyrobustcommercialgrowth,expandingspace-enabledconsumerservicesanddeeper
internationalgovernmentspendingforcivilprogramsandnationaldefense.
Theannualgainistheseconddouble-digitjumpinthepastdecade,trailing2021when
stronginvestmentduringthepost-pandemicrecoveryresultedina15.5%annualgain.The
2025growthrateisthefourth-highestsince2006,whenSpaceFoundationfirstreleaseditsannualglobaleconomicanalysis.Thecompoundannualgrowthrate(CAGR),whichgaugesannualizedrateofbusinessgrowthandinvestment,grewmorethan2%fromthepriorfive-yearCAGRonthestrengthof2025performance,reaching9.8%.
GlobalSpaceActivity,2005-2025
USDbillions
$686B
$700
$600
$500
$400
$300
$344B
$200
$177B
20082009
■CommercialInfrastructureandSupportIndustries
20132014
an1e5rvic1No-0U1.Gmet01pac0dg2US2rn
20242025
SpaceBudgets
■CommercialSpaceProducts
Source:SpaceFoundationdatabase
U.S.governmentfunding,at$78.3billion,was57%ofoverallgovernmentspendinglastyear.Historically,U.S.fundingforentrepreneurs,inconcertwithprivate
capital,createdasynergythatbroughtnewcapabilitiesforwardfaster,
saidKevinO'Connell,CEOandfounderofSpaceEconomyRisinganda
formerdirctoroftheOfficeofSpaceCommerce.Thatfundingframework,
combinedwithlowerlaunchcostsallowingfasteraccesstospace,isbenefitting
fromagrowingrealizationthatspacecanbeaboutmorethanexploration,said
O'Connell,whoisalsoaSpaceFoundationboardmember.KevinO'Connell
1ISPACEFOUNDATION|GlobalSpaceEconomyReport
“Werecognizethere'senormouseconomicandsocialvaluethatwillbecreatedbyleveragingspace,"hesaid."Ithinkthat'scriticalatthisparticularpointintime,thecombinationof
governmentfundingandstrategyand(really)privatecapitalfuelinginnovationinthemarket.
CommercialSectorsOldandNewAccelerateGrowth
GlobalSpaceActivitybyCategory,2025
$686B
+12%
$63B
$386B
$158.3B
$78.3B
■CommercialInfrastructureandSupportIndustries
■CommercialSpaceProductsandServices
■Non-U.S.GovernmentSpaceBudgets
■U.S.GovernmentSpaceBudgets
Roundedfrom$685.6
Source:SpaceFoundationdatabase
Commercialactivityin2025surpassed$544.3billion,a13%increasefromaslightlyrevised$481.5billionin2024.Commercialsectorsin2025accountedfor79%oftheglobalspace
economy.Revenuefromthetwotopsectors-Positioning,NavigationandTiming(PNT)andGroundStationsandEquipment-generatedacombined$419.8billion.Somenewersectors,suchasIn-SpaceServicing,Assemblyand
Manufacturing,andLunarActivities,addedtotheanalysisthisyear,showedpromisinggainsof23%and43%.Thesesectorsare
experiencingdynamicchange,saysCarissaChristensen,CEOofBryceTechandSpaceFoundationboardmember.
“We’reinanextraordinarytimeinthinkingaboutthecislunareconomyright
now,"shesaid.“"We
havegovernments
aroundtheworld
spendingmoneyto
CarissaChristensen
developmissionsandsupportactivitiesonthe
Moon.Thatincreaseinactivityandthoseplanswithinternationalpartnersarereallygoingtoreshapehowwethinkofthecislunareconomy."
ANewPriorityforGovernmentSpaceSpending
Governmentfundingasadriverofspaceinnovationisshowinggrowthinto2026budgets.In2025,53globalgovernmentspacebudgetsaddedalmost$10billionfrom2024,growing7.4%
tonearly$141billion.Ofthe43FY26budgetsavailable,spendingincreased11.8%annually.Nationaldefenseisagrowingpriority.
"Aroundtheworld,defensebudgetshaveincreasedsignificantly.And
spacehasbecomeaneverlarger,andprominent,componentofthoseexpandingmilitarybudgets,"saidPeterBeshar,formergeneralcounseltotheAirForceandSpaceForceandaSpaceFoundationboard
member.
PeterBeshar
Comprehensivereportsonkeyeconomicsectorsandemergingtechnologiesbeginonthefollowingpages.
2ISPACEFOUNDATIONIGlobalSpaceEconomyReport
3|SPACEFOUNDATIONIGlobalSpaceEconomyReport
SPACEFOUNDATION
CommercialSpaceRevenueRises13%from2024
Theglobalcommercialspaceindustrygeneratedanestimated$544.3billioninrevenuein2025,anincreaseof13%fromaslightlyrevised$481.5billionin2024.
Devicesalesandvalue-addedservicesenabledbyglobalnavigationsatellitesystems(GNSS),generatedacombined$419.8billioninrevenue,morethanthree-quartersofthecommercialmarket.
Theindustry'sinfrastructuresegmentsexperiencedparticularlyrapidgrowthin2025.
Commercialsatellitemanufacturingrevenuesincreased67.2%,whilecommerciallaunch
revenuesgrew49.4%,reflectingthecontinuedexpansionoflargesatelliteconstellationsandtherecordnumberofspacecraftdeployedduringtheyear.
Andinanodtoagrowingareaofbusiness,SpaceFoundationthisyearhasaddedanew
commercialsector,LunarActivities,tocapturerelatedrevenuegrowth.Thisbringsthenumberofsubsectorsinthecommercialanalysisto13.
CommercialSpaceProductsandServices
Muchoftheeconomicvaluegeneratedbythecommercialspaceindustryiscreatednot
byactivitiesinspace,butbytheproductsandservicesonEarththatrelyonsatellitesand
otherspace-basedinfrastructure.Thesesatellite-enabledproductsandservicesaccountedfor70.9%ofcommercialspacerevenuein2025,generatinganestimated$385.9billion,
anincreaseof11.7%from$345.5billionin2024.Inmanycases,consumersandbusinesses
areunawarethatspacesystemssupporttheproductsandservicestheyuseeveryday.
Satellitedatahelpinsurersassessdisasterdamage,enableprecisionagriculture,support
globalshippingandaviation,providelocationandnavigationservicesforsmartphones
andvehicles,anddelivertelevision,broadband,andothercommunicationsservices.As
satellitecapabilitiescontinuetoimproveandbecomemoredeeplyintegratedintotheglobaleconomy,downstreamproductsandservicesremainthelargestandfastest-growingsourceofcommercialspacerevenue.
CommercialSpaceProductsandServices,2025
Category
2025Revenue(USSB)
YoYChangeSource
Position,Navigation,andTiming
$279.9
18.3%EuropeanUnionAgencyfortheSpaceProgramme
Direct-to-HomeTelevision
$66.4
-8.2%SatelliteIndustryAssociation;PublicFilings
SatelliteCommunications
$28.4
9.5%SatelliteIndustryAssociation;PublicFilings
SatelliteRadio
$6.4
-2.1%PublicFilings
EarthObservation
$4.3
17.4%EuropeanUnionAgencyfortheSpaceProgramme
LunarActivities
$0.36
23.2%PublicFilings
Total
$385.9
12%
4|SPACEFOUNDATIONIGlobalSpaceEconomyReport
NewSatellitesEnlargePositioning,Navigation,andTimingMarket
Positioning,navigation,andtiming(PNT)servicesrepresentthelargestsourceofcommercialrevenueintheglobalspaceeconomy.WhilerevenuesfromGNSSreceiversareincludedintheGroundStationsandEquipmentsection,themuchlargereconomicimpactcomesfromthe
software,dataproducts,andservicesthatrelyonthosereceivers.Theseincludenavigationandmappingapplications,fleetmanagementsystems,precisionagriculture,drone
operations,location-basedadvertising,financialtimingservices,andcountlesssmartphoneapplicationsthatdependonsatellitepositioning.
AccordingtotheEuropeanUnionAgencyfortheSpaceProgramme(EUSPA),satellite-
enabledPNTservicesgeneratedanestimated$279.9billioninrevenuein2025,anincrease
of18.3%from$236.6billionin2024.Consumerapplications-particularlysmartphone-
basednavigation,mapping,andlocation-basedservices-remainthelargestsourceof
revenue.Automotiveapplicationsalsocontributesubstantiallythroughin-vehiclenavigation
systems,mappingsoftware,andconnectedvehicleservices.Asvehiclesbecomeincreasinglyautomatedandconnected,EUSPAexpectsthissegmenttobecomeanevenmoreimportantdriveroffuturegrowth.Althoughtheyaccountforasmallershareoftotalrevenue,sectors
suchasaviation,maritimetransportation,precisionagriculture,surveying,logistics,and
electricpowerdistributionalsorelyheavilyonsatellitepositioningandprecisetimingservices.²
Nearlyallcommercialrevenuesinthissectorhavebeengeneratedfromvalue-addedservicesbuiltonfreelyavailablesignalstransmittedbygovernment-operatednavigationsatellite
systems,includingtheUnitedStates'GlobalPositioningSystem(GPS),Europe'sGalileo,China'sBeiDou,andRussia'sGLONASS.Agrowingnumberofcompanies,however,areseekingto
commercializepositioningandtimingservicesbydeployingtheirownconstellations.RatherthanoperatinginmediumEarthorbitliketraditionalnavigationsystems,thesecompaniesplantouselowEarthorbit(LEO)constellationstoprovidestrongersignalsthataremore
resistanttointerferenceandjammingwhileenablinghigherpositioningaccuracyforcertainapplications.
AmongthemostprominentcompaniespursuingthisapproachareXonaandTrustPoint.
XonalauncheditsfirstdemonstrationsatelliteinJune2025andhasapproximatelyadozencommercialandgovernmentpartnerstestingitssignals.Thecompanyultimatelyplansto
deployaconstellationof258satellitestargetingcustomersintelecommunications,financialservices,autonomoussystems,anddefensethatrequireresilient,high-precisiontimingandnavigationservices.3TrustPointhasdeployedthreedemonstrationsatellitesandplansto
developaconstellationofapproximately300spacecraft.ThecompanyhasdemonstratedGPS-independentnavigationforsatellitesoperatinginlowEarthorbitand,inMay2026,
receiveda$4millioncontractfromtheU.S.SpaceForcetodemonstrateresilientpositioning,navigation,andtimingservicesacrossgroundandspacesystems.4
AlthoughcommercialLEOnavigationconstellationsremainintheearlystagesof
development,theyillustrateanimportantevolutioninthesatellitenavigationmarket.Ratherthansimplybuildingapplicationsthatrelyongovernment-providedsignals,companiesarebeginningtodevelopcommercialnavigationinfrastructuredesignedtoaugment,orinsomeapplicationsprovideanalternativefor,traditionalGNSSsystems.Asdemandforresilient
navigationandprecisetimingcontinuestogrowacrosscommercial,financial,anddefenseapplications,theseemergingconstellationscouldcreateanentirelynewsegmentofthe
commercialspaceeconomyoverthecomingdecade.
SPACEFOUNDATION
ThefinalLockheedMartinGPSIsatellitewaslaunchedbytheSpaceForceinApril.TheU.S.GPSconstellationhas32activesatellitesinorbit.
Credit:SpaceForce
5|SPACEFOUNDATION|GlobalSpaceEconomyReport
6|SPACEFOUNDATION|GlobalSpaceEconomyReport
Direct-to-HomeTelevisionandSatelliteRadioSlump
Direct-to-home(DTH)televisionandsatelliteradiowereamongtheearliestlarge-scale
commercialapplicationsofsatellitetechnologyandcontinuetogeneratesignificantrevenues.However,bothmarketshaveexperiencedagraduallong-termdeclineasconsumers
increasinglyshiftfromtraditionalbroadcastservicestointernet-basedstreamingplatforms.Althoughsatellitebroadcastingremainsparticularlyimportantinruralandunderservedareaswhereterrestrialbroadbandinfrastructureislimited,changingconsumerpreferencesand
expandingbroadbandavailabilitycontinuetoreducedemandinmanymaturemarkets.
AccordingtotheSatelliteIndustryAssociation,direct-to-hometelevisionservicesgenerated$66.4billioninrevenuein2025,adeclineof8.2%from$72.4billionin2024.5Thisdecreasereflectsalong-termtrendawayfromtraditionalsubscriptiontelevision.A2025survey
conductedbythePewResearchCenterfoundthat83%ofU.S.adultsusestreamingservices,whileonly36%subscribetocableorsatellitetelevision,although28%reportedusingboth.6WhilesubscriberlosseshavebeenmostpronouncedinNorthAmericaandWesternEurope,satellitetelevisioncontinuestoplayanimportantroleinmanypartsofAsia,Africa,Latin
America,andtheMiddleEast,wheresatellitedistributionremainsoneofthemostcost-effectivemeansofdeliveringtelevisionprogrammingoverlargegeographicareas.
Thechangingtelevisionmarkethaspromptedsatelliteoperatorstodiversifybeyond
traditionalbroadcasting.InJuly2025,SEScompleteditsacquisitionofIntelsat,creatingone
oftheworld'slargestmulti-orbitsatelliteoperatorswithanexpandedfocusonbroadband
connectivity,governmentcommunications,mobilityservices,andenterprisenetworking.Thetransactionreflectsabroaderindustrytrendinwhichsatelliteoperatorsarerepositioning
themselvesasprovidersofintegratedconnectivityservicesratherthanprimarilytelevision
broadcasters.ThemarketalsocontinuedtoconsolidateasDishDBSfiledforbankruptcy
protectioninJune2026butannouncedplanstocontinueoperationswhilerestructuring,
highlightingthefinancialpressuresfacingtraditionalsatellitetelevisionprovidersassubscriberbasescontinuetoshrink.8
Satelliteradioremainedcomparativelystabledespitemodestrevenuedeclines.SiriusXM
generated$6.4billioninrevenuein2025,adecreaseof2.1%from$6.6billionin2024.⁹Despitelowerrevenues,thecompanycontinuedinvestinginitssatelliteinfrastructure,launchingthe
SXM-11satellitein2026aspartofitsongoingconstellationmodernizationprogram.0Theseinvestmentsreflectthelongoperationallifetimesofsatellitebroadcastingsystemsandthecompany'sexpectationthatsatelliteradiowillcontinueservingadedicatedsubscriberbaseforyearstocome.
Althoughbroadcastsatelliteservicesnolongerrepresenttheprimaryengineofgrowthforthecommercialspaceindustry,theyremainanimportantcomponentofthesector.Theirgradualdeclinealsoillustratesabroadertransitionwithinthesatelliteeconomy,ascommercial
revenuesincreasinglyshiftfromone-waybroadcastingservicestowardinteractivebroadbandcommunications,satellite-enableddigitalservices,andotherdata-intensiveapplications.
SatelliteCommunicationsSectorSees9.5%Boost
Whilebroadcastsatellitesprimarilytransmitinformationinonedirectiontolargenumbersofusers,communicationssatellitesenabletwo-wayvoice,data,andinternetconnectivity.Thesesystemssupportbroadbandinternetaccessforhomesandbusinesses,enterprisenetworking,aviationandmaritimeconnectivity,governmentcommunications,andanincreasingrange
ofmobileapplications.Commercialsatellitecommunicationsgeneratedanestimated$28.4billioninrevenuein2025,anincreaseof9.5%from$25.9billionin2024.
Satellitebroadbandcontinuedtobetheprimarydriverofgrowthinthismarket.SpaceX's
StarlinkandEutelsatOneWebremainedtheleadingprovidersoflowEarthorbitbroadbandservices,althoughtheytargetdifferentcustomersegments.Starlinkcontinuedexpanding
itsconsumerandenterpriseofferings,reportingmorethan9millioncustomersacross155
countriesbytheendof2025."OneWebfocusedprimarilyonenterprise,aviation,maritime,andgovernmentcustomers,wheredemandforsecureandresilientconnectivitycontinued
togrow.¹2CompetitionisexpectedtoincreaseasAmazonLeobeginscommercialservice
in2026.LikeStarlink,AmazonLeoplanstoserveenterpriseandconsumermarkets.³
Meanwhile,China'sThousandSailsandGuowangconstellationscontinuedrapiddeploymentduring2025,layingthefoundationforfuturebroadbandservices.14
Anotherimportanttrendduring2025wastheemergenceofmulti-orbitcommunications
networks.Ratherthanrelyingonsatellitesinasingleorbitalregime,operatorsincreasingly
combinedgeostationary(GEO),mediumEarthorbit(MEO),andlowEarthorbit(LEO)systemstoimprovecoverage,resilience,andnetworkperformance.ThemergerofGEOoperator
EutelsatwithLEOoperatorOneWebin2023wasanearlyexampleofthistrend.The2025acquisitionofIntelsatbySESfurtheracceleratedthistransition,reflectinggrowingcustomerdemandforseamlessconnectivityacrossmultiplesatellitearchitectures.5
EutelsatoperatesatelecommunicationsgatewaysiteinNuuk,Greenland,deliveringbroadbandservicesinoneoftheworld'smostremotelocations.
Credit:Eutelsat
7ISPACEFOUNDATIONIGlobalSpaceEconomyReport
8|SPACEFOUNDATIONIGlobalSpaceEconomyReport
Oneofthefastest-growingareaswithinsatellitecommunicationsisdirect-to-device(D2D)
connectivity.Unliketraditionalsatellitephones,D2Dtechnologyenablesordinarysmartphonesandwearabledevicestocommunicatedirectlywithsatellites,extendingexistingmobile
networksintoareasbeyondthereachofterrestrialcellulartowers.Theseserviceshavethepotentialtoeliminatemanycoveragegapswhileprovidingresilientcommunicationsduringnaturaldisasters,emergencies,andmilitaryoperations.
Ratherthancompetingdirectlywithterrestrialmobileproviders,mostD2Dcompaniesare
partneringwithmobilenetworkoperatorstoextendexistingcellularcoverage.SpaceX,AST
SpaceMobile,andLynkGlobalhaveallestablishedpartnershipswithmobilecarrierssuchasT-Mobile,ATaT,andVerizon,allowingsubscriberstoaccesssatelliteconnectivityusingexistingmobiledevicesandphonenumbers.Othercompanies,includingViasatandGlobalstar,
continuetoprovidesatelliteconnectivitythroughproprietarysystemsthatrequirecompatiblechipsetsorspecializeddevices,whichcansimplifyregulatoryapprovalprocessesacross
countries.Increasingly,however,providersareadoptinghybridapproachesthatcombinedirectconsumeraccesswithpartnershipsacrossterrestrialmobilenetworks.Forexample,SpaceX'sSeptember2025agreementtoacquireadditionalspectrumfromEchoStarcouldenablethecompanytoprovideservicesthroughmobilenetworkpartnersanddirectlytocompatibleconsumerdevices.16
Industryanalystsexpectdirect-to-deviceservicestobecomeoneofthefastest-growing
segmentsofthesatellitecommunicationsmarketoverthecomingdecade.Novaspace
projectsthattheglobalD2Dmarketcouldapproach$10billionby2033.7Assatelliteand
terrestrialtelecommunicationsnetworksbecomeincreasinglyintegrated,distinctionsbetweensatellitecommunicationsandtraditionalmobilecommunicationsarelikelytobecomeless
pronounced.Togetherwithcontinuedexpansionofbroadbandconstellationsandmulti-orbitnetworks,thesedevelopmentssuggestthatsatellitecommunicationswillremainoneofthemostdynamicandstrategicallyimportantsectorsofthecommercialspaceeconomy.
EarthObservationMarketGrows
Earthobservation(EO)satellitesprovideinformationabouttheEarth'ssurfacethatsupports
decision-makingacrossawiderangeofcommercial,government,andscientificapplications.Unlikeground-basedobservations,satellitescanmonitorvirtuallyanylocationonEarth
regardlessofnationalboundaries,terrain,oraccessibility.Advancesinsatelliteconstellationshavealsomadeitpossibletoobservemanylocationsmultipletimesperday,allowinguserstomonitorchangeovertimeratherthanrelyingonisolatedimages.
CommercialEarthobservationsystemsemployavarietyofsensingtechnologies.High-
resolutionopticalsatellitescapturedetailedimagerycapableofidentifyingindividual
buildings,vehicles,andotherobjects.Syntheticapertureradar(SAR)satellitesactively
transmitradarsignals,enablingobservationsthroughcloudsandatnightandproviding
particularlystrongcapabilitiesforchangedetection.Hyperspectralsensorscollectinformationacrosshundredsofwavelengthsoftheelectromagneticspectrum,allowinguserstoidentify
materialsandassesschemicalcomposition.Together,thesecomplementarytechnologieshavegreatlyexpandedtherangeofcommercialapplicationsforsatelliteremotesensing.
Finland'slceyeofferscommercialradarimageryfromspace,likethisviewofaRussiannavalinstallation.
Credit:lceye
Companiesgeneraterevenuethroughthesaleofsatelliteimageryandtheprovisionofvalue-addedanalyticalservices.AccordingtoEUSPA,commercialEarthobservationdatasales
generated$771.7millioninrevenuein2025,anincreaseof6%from$728millionin2024.
Significantlymorevalueiscreatedthroughdownstreamproductsandservices,whichreachedanestimated$3.6billioninrevenuein2025,up20.2%from$3billionin2024.Combined,theEarthobservationmarketgeneratedapproximately$4.3billionincommercialrevenueduringtheyear.18
9|SPACEFOUNDATION|GlobalSpaceEconomyReport
10|SPACEFOUNDATION|GlobalSpaceEconomyReport
ThecommercialEarthobservationmarketcontinuestobedominatedbycompaniesbasedintheUnitedStatesandEurope,whichtogetheraccountforapproximately83%ofglobal
marketsupply.China,Canada,andJapanrepresentthenextlargestcontributors.Agricultureremainsthelargestcommercialapplication,wheresatellitedataareusedtomonitor
crophealth,optimizefertilizerandirrigationuse,andimproveyields.Energyandnatural
resourcecompaniesrelyonsatelliteimagerytomonitorinfrastructure,supportexploration
activities,andassessenvironmentalimpacts,whileclimateandenvironmentalapplicationscontinuetoexpandasgovernmentsandbusinessesincreaseinvestmentsinsustainabilityandclimateresilience.Otherimportantmarketsincludesecurity,insurance,finance,emergencymanagement,forestry,maritimemonitoring,andurbanplanning.19
Animportanttrendinrecentyearshasbeentheshiffromsellingimagerytodelivering
informationproductsanddecision-supportservices.Ratherthanpurchasingrawsatelliteimagery,manycustomersincreasinglypurchaseanalyticalproductsthatintegratesatelliteobservationswithartificialintelligence,machinelearning,weatherinformation,andothergeospatialdatasets.ThisevolutionhasallowedEarthobservationcompaniestoserve
customerswithlimitedremotesensingexpertisewhilecreatinghigher-valuecommercialproductstailoredtospecificindustries.
ThecontinueddeploymentoflargeEarthobservationconstellationsisexpectedtofurthertransformthemarket.Higherrevisitrates,increasingimageresolution,andtheintegrationofmultiplesensingtechnologiesaremakingsatellitedatatimelyandactionable.Advancesincloudcomputingandartificialintelligenceenablecompaniestoprocessandanalyze
enormousvolumesofimageryinnearrealtime.Asthesetechnologiesmature,the
commercialvalueofEarthobservationislikelytobedrivenbytheinsightsgeneratedfromsatellitedataratherthanbytheimageryitself.
FireflyAerospace'sBlueGhostlunarlandercapturedwhatthecompanydubbed"anEarthselfie”onitswaytoasuccessfullunar
landingin2025.
Credit:FireflyAerospace
1|SPACEFOUNDATION|GlobalSpaceEconomyReport
MoonRisingasCommercialMarket
CommercialactivitybeyondEarthorbitcontinuedtoexpandduring2025asgovernmentsincreasinglyreliedoncommercialcompaniestosupportlunarexploration.Althoughthemarketremainsrelativelysmall,commerciallunartransportationandrelatedservices
generatedanestimated$364millioninrevenueduringtheyearandcontinuedtoattractsubstantialpublicandprivateinvestment.Ratherthandevelopingandoperatingmissionsdirectly,spaceagenciesareincreasinglypurchasingservicesfromcommercialproviders,creatinganewmarketforlunarlogistics.
NASA'sCommercialLunarPayloadServices(CLPS)programcontinued
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