Trend Trend 11: falling launch costs and private scale reshape space markets

Summary

The eleventh trend in CB Insights' outlook is that the commercial space race has entered a new era. Lower launch costs and the scale of private companies are reshaping space markets. SpaceX has made access to orbit routine, completing 165 launches in 2025 at far lower cost than rivals, and helping the United States dominate orbital launches. The firm tracks activity across more than 20 emerging space technology markets, from space cybersecurity to satellite applications. Former SpaceX employees are founding a new wave of startups, while China and India increase their share of early-stage deals. The European Union, lagging in launches and investment, is stepping up funding to reduce its reliance on US capabilities.