Rocketing into the New Space Race: Inside the Global Boom of Private Spaceflight and Payload Companies
In 2023, the global space economy reached $570 billion, with private/commercial ventures accounting for about 78%. In 2023 there were 221 orbital launches (the most on record), more than 2,500 satellites launched, and experts project up to 100,000 satellites in orbit within the next decade. Since 2009, investors have poured about $347.9 billion into roughly 2,197 space startups worldwide. SpaceX’s Falcon 9 can carry about 22,800 kg to LEO, and the company launched 61 missions in 2022 and nearly 100 in 2023, capturing an estimated 95% of all U.S. orbital launches. Virgin Galactic began commercial suborbital flights in 2023, charging