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Satellites central to 2023’s record defense spending

Led by the United States with $835 billion in total defense spending, military budgets around the world grew to record levels in 2023 and appear on track for another record year in 2024, driven by increased tensions in Asia, the outbreak of war between Israel and militant groups, and the grinding conflict in Ukraine.

2024 launch pace easily exceeds 2023’s record midyear mark

Global launches through June 30 were up nearly 30% from 2023, easily eclipsing last year’s record 97 first half launches with 126. Launch failures also fell in the first half of 2024 despite the higher launch activity. The pace is expected to accelerate through the second half of 2024, with key launch vehicles set for first flights.

Commercial space revenues climb to $445 billion in 2023

Commercial space activity has grown rapidly in recent years, although definitions for this activity vary. For the purposes of this analysis, commercial space activity is defined to include products sold to private customers and efforts undertaken by private industry in which private actors take on a significant portion of the financial risk.

NASA cancels VIPER Moon rover amid budget concerns

The metallic front of the VIPER lunar rover in a NASA lab

After $450 million and six years of work, NASA will not be exploring lunar ice with its new rover. The Volatiles Investigating Polar Exploration Rover (VIPER) is already built, and the rocket is still scheduled to launch next year, but the rover will remain on Earth.