Companies

World's largest commercial satellite operator by revenue. Operates 70+ satellites across GEO and MEO. Manages the Astra fleet serving Europe, including the 19.2°E position, the most heavily loaded orbital arc in the world. Revenue ~€2B/year from transponder leases to broadcasters, governments, and enterprise clients.

Founded as an intergovernmental satellite organization, now a private operator with 50+ GEO satellites covering every region on Earth. Emerged from Chapter 11 bankruptcy in 2022 after C-band spectrum clearing costs and declining broadcast TV revenue. Primary markets: government, military, aviation, and enterprise.

European GEO operator with 35+ satellites. Merged with OneWeb in 2023, combining GEO broadcast infrastructure with LEO broadband. The Hot Bird position at 13°E serves 500+ TV channels to 100M+ European homes. Facing revenue decline as linear TV shrinks.

Canadian GEO operator holding some of North America's most valuable orbital positions, including 107.3°W (Anik F2). Developing Telesat Lightspeed, a 198-satellite LEO broadband constellation. Primary customers: Canadian government, broadcasters, and enterprise across the Americas.

Arab League-owned satellite operator serving 22 member states. Operates the Badr satellite fleet at 26°E, the dominant direct-to-home position for the Arab world, broadcasting 500+ channels to 100M+ homes. Also provides government and enterprise connectivity across the Middle East and North Africa.

Russian Satellite Communications Company, a state-owned operator managing Russia's civilian satellite fleet including the Express series. Covers Russia's vast interior (Siberia, the Far East, and the Arctic) with C-band and Ku-band capacity. Government and federal broadcasting mandates are the primary revenue source.

Spanish satellite operator connecting Europe and Latin America. Holds strategic positions at 30°W and 36°W covering the Iberian Peninsula, Brazil, and Spanish-speaking markets across the Americas. 50% owned by Red Eléctrica de España (the Spanish grid operator) and considered national infrastructure.

Malaysian satellite operator serving Southeast Asia, South Asia, and the Middle East from 91.5°E. Provides broadcast and broadband services across some of the world's densest population corridors. Owned by Usaha Tegas, the private holding company of Malaysian billionaire T. Ananda Krishnan.

Develops the Falcon 9 and Starship launch vehicles. Pioneered orbital booster reusability with Falcon 9, which has become the world's most frequently flown rocket. Starship, currently in flight testing, targets full stack reusability and sub-$100/kg to orbit. Listed on Nasdaq as SPCX in June 2026 in the largest IPO on record.

Operates the Electron small launch vehicle with a partially reusable first stage. Developing the larger Neutron rocket for medium-lift missions. Has completed over 50 Electron launches, making it the second most frequently flown orbital rocket after Falcon 9.

Develops the New Shepard suborbital vehicle and New Glenn orbital rocket. New Glenn completed its first orbital mission in 2025. Also developing the Blue Moon lunar lander for NASA's Artemis program.

3D prints the majority of its launch vehicles, aiming to dramatically reduce part count and manufacturing time. Pivoted from Terran 1 small rocket to the larger, fully reusable Terran R after Terran 1's first flight.

Developing a fully reusable two-stage launch vehicle with a hydrogen-oxygen upper stage that uses a unique full-flow engine cycle. Has tested both stages independently and is targeting full integrated flight.

Operates the Alpha small launch vehicle and delivered the Blue Ghost lunar lander to the Moon's surface in 2025 under NASA's CLPS program, making it one of the first commercial companies to achieve a successful lunar landing.

European small launch vehicle developer building the Spectrum rocket. Targets the growing European demand for sovereign launch capability and serves commercial constellation customers.

German small launch vehicle company developing the RFA ONE rocket, a three-stage vehicle targeting 1,300 kg to SSO. Owned by OHB SE, one of Europe's largest satellite manufacturers, giving it industrial heritage and institutional backing rare among new launch entrants. Aims to offer European sovereign small launch capability from the Esrange Space Center in Sweden.

Ariane Group spinout developing a small, reusable launch vehicle targeting the commercial small satellite market. Leverages Ariane Group's decades of propulsion and cryogenics heritage. Represents the European space establishment's attempt to build a competitive new-space launch product alongside institutional Ariane 6 operations.

Spanish launch vehicle company developing Miura 1, a suborbital rocket, and Miura 5, a small orbital launch vehicle. Conducted Spain's first private rocket launch in 2023 with Miura 1. Targets the commercial small satellite market from the El Arenosillo test center in Andalusia. Part of a growing Southern European commercial space sector.

Developing the RS1 small launch vehicle with a focus on rapid field deployment. Has a contract with Lockheed Martin for potential use on future missions.

Developing the Hadley engine for small launch vehicles and the Ripley engine for medium-lift applications. One of the few US companies building rocket engines as a standalone product rather than as part of a launch vehicle program. Has supply relationships with multiple launch vehicle developers seeking American-made propulsion alternatives to legacy government-funded engines.

Builds in-space propulsion vehicles including Mira, an orbital transfer vehicle. Founded by former SpaceX VP of propulsion Tom Mueller. Focuses on last-mile delivery services for satellite operators.

Develops radio-frequency thrusters for small satellites. Their Maxwell thruster uses an RF plasma source rather than electrodes, reducing wear and enabling longer operational lifetimes.

French in-space propulsion company developing Hall-effect thrusters for small satellites. Their ExoMG thruster line targets the growing small satellite constellation market.

Formerly Accion Systems, rebranded to Revolution Space after Tracker Capital took a majority stake in 2021. Develops TILE electrospray propulsion systems for CubeSats and small satellites. Their ionic liquid ion source technology enables precise attitude control and orbit adjustment for very small spacecraft.

Manufactures Aurora Hall-effect thrusters for small satellites. Focuses on high-volume production to serve the growing small satellite constellation market at scale.

Develops lunar landers under NASA's CLPS program. Their Peregrine lander experienced a propellant anomaly on its first mission. Their larger Griffin lander is designed to deliver NASA's VIPER rover to the lunar south pole.

Operates the Nova-C lunar lander. Their IM-1 mission in 2024 became the first US commercial lunar landing, though the vehicle tipped on landing. Publicly traded on Nasdaq under LUNR.

Japanese lunar exploration company developing the HAKUTO-R lander series. Targeting lunar water ice extraction as a long-term commercial objective. Lost their first lander during final descent in 2023.

Developing the FLEX large lunar rover, capable of transporting substantial payloads across the lunar surface. Selected by SpaceX to fly on Starship as part of NASA's lunar surface work.

Developing small mobile robots for lunar surface operations including the MAPP rover. Also building resource prospecting systems to characterize lunar regolith composition and ice content.

Building the first commercial space station, Axiom Station, to be assembled in orbit and eventually detached from the ISS as an independent facility. Also developed the AxEMU spacesuit for NASA's Artemis lunar surface missions.

Developing Haven-1, a commercial space station module to be launched on a SpaceX Falcon 9. Targeting a 2025 launch and planning a larger Haven-2 multi-module station.

Developing the Dream Chaser spaceplane for cargo delivery to the ISS and the LIFE inflatable habitat module. LIFE uses Bigelow-heritage expandable structure technology and targets over 1,400 cubic meters of pressurized volume.

Large-format construction 3D printing company. On Earth, prints full-size houses from concrete. For space, developing the Vulcan construction system and Lavacrete material under NASA's Project Olympus to print structures from lunar and Martian regolith.

Commercial space company offering payload integration on the ISS and developing Starlab, a commercial space station in partnership with Voyager Space and Airbus. Acquired by Voyager Space.

Commercial space station concept led by Blue Origin and Sierra Space with Boeing, Redwire, Genesis Engineering Solutions, and Arizona State University as initial partners. Announced as a mixed-use business park in low Earth orbit and selected by NASA in 2021 under the Commercial Low Earth Orbit Destinations program to develop a successor to the ISS. Targets research, manufacturing, and tourism customers.

Space holding company that acquired Nanoracks in 2021 and leads the Starlab commercial space station consortium in partnership with Airbus. Starlab is a single-launch station design with four research modules and a large central hub, targeting a mid-2030s launch as a successor to the ISS. Also holds interests in several other space companies through its portfolio structure.

Developing compact fission power plants, initially targeting terrestrial remote power markets. Their Aurora microreactor is designed for outputs of 1 to 15 megawatts. The same compact, reliable, weather-independent power profile is directly applicable to lunar and Martian surface operations. Publicly traded on NYSE under OKLO.

Developing radioisotope power systems (RPS) for space and defense applications. Their systems use the heat from radioactive decay to generate electricity, providing reliable low-power output with no moving parts and decade-scale operational lifetimes.

Defense and government contractor developing nuclear thermal propulsion systems and space nuclear reactors under NASA and DARPA contracts. Has significant heritage in naval nuclear reactor manufacturing.

Space infrastructure company manufacturing solar arrays, deployable structures, and in-space manufacturing systems. Their rollable solar array technology is deployed on the ISS. Publicly traded on NYSE under RDW.

Long-standing space robotics company developing drilling, sampling, and excavation systems for planetary surfaces. Built the rock abrasion tools on NASA's Mars Exploration Rovers and developing ISRU sampling equipment for future missions.

Developing industrial robots for mining and construction on planetary surfaces and asteroids. Their robots are designed to work collaboratively in swarms with minimal human oversight, relevant for the autonomous ISRU operations Mars will require.

Developed Canadarm, Canadarm2, and Dextre for the Space Shuttle and ISS. Building Canadarm3 for the Lunar Gateway. One of the most experienced space robotics companies in the world, with five decades of heritage in on-orbit manipulation.

Builds robotic arm systems for planetary rovers and space applications. Their xLink robotic joint technology powers robotic arms on Mars missions. Developing surface robotics for future lunar and Mars applications.

Developing active debris removal and satellite servicing spacecraft. Completed the first commercial debris capture demonstration in orbit. Building a commercial refueling and servicing ecosystem for operational satellites.

Japanese robotics company developing general-purpose robots for space station operations, EVA task assistance, and eventually surface construction. Has demonstrated robotic task completion inside ISS mockups.

Developing the Otter spacecraft for satellite docking, servicing, and repositioning. Targeting the growing market for on-orbit servicing as satellite operators seek to extend the operational life of expensive GEO assets.

Develops BioPods, controlled-environment growing systems for plants and microorganisms. Designing closed-loop life support systems for long-duration space habitation, with terrestrial applications in vertical farming and pharmaceutical production.

Produces Solein, a protein powder made from CO2, water, and electricity using hydrogen-oxidizing microorganisms. No agriculture required. On Mars, where the atmosphere is 95% CO2 and nuclear electricity is available, the process requires no imported feedstock whatsoever.

Produces cultivated beef from animal cells without raising animals. Demonstrated meat cultivation on the ISS in 2019. For long-duration space missions, cultivated meat eliminates the need to raise livestock while providing animal protein.

Operates manufacturing and research facilities on the ISS. Has run over 300 experiments including food production, cell cultivation, and materials science. Provides a commercial route to access microgravity for research and production.

Operates the world's largest fleet of Earth imaging satellites, capturing daily global coverage at 3-5 meter resolution. Their Dove and SuperDove constellations image every point on Earth every day. Publicly traded on NYSE under PL.

Operates a constellation of synthetic aperture radar (SAR) satellites capable of imaging through clouds and at night. Provides sub-meter resolution SAR imagery to government and commercial customers.

Developing high-resolution SAR satellites capable of 16-centimeter resolution, the highest resolution commercial SAR available. SAR's ability to operate through clouds and darkness makes it particularly valuable for monitoring dynamic situations.

Operates a constellation of over 100 satellites collecting GPS radio occultation data for weather forecasting, maritime tracking, aviation, and climate monitoring. Provides data-as-a-service to government and commercial customers. Publicly traded on NYSE under SPIR.

Finnish SAR satellite operator with a constellation optimized for very high revisit rates. Can image specific locations multiple times per day. Primarily serves government intelligence and insurance customers monitoring floods, disasters, and infrastructure.

Developing very low Earth orbit satellites capable of 10-centimeter resolution optical imagery from space, closer to aerial imagery quality than traditional satellite. Operating in VLEO requires more fuel for drag compensation but dramatically improves resolution.

Developing hyperspectral imaging satellites that capture hundreds of wavelength bands simultaneously. Hyperspectral data identifies material composition from orbit, enabling applications in agriculture, mining, environmental monitoring, and ISRU site selection.

Developing asteroid mining technology targeting platinum-group metals. Launched their first refinery demonstration spacecraft in 2023. Plans asteroid reconnaissance missions to characterize target bodies before full-scale mining operations.

Developing optical mining technology using concentrated sunlight to extract water and volatiles from asteroids and the Moon. Their Worker Bee spacecraft is designed to capture and process small near-Earth asteroids for propellant production.

Manufactures products in microgravity using small reentry capsules hosted on Rocket Lab satellites. First customers are pharmaceutical companies seeking to grow drug crystals in microgravity conditions impossible to replicate on Earth. First successful reentry in 2024.

UK company developing ForgeStar reusable reentry vehicles for in-space manufacturing of advanced materials including semiconductors, fiber optics, and exotic alloys that benefit from microgravity processing.

Formerly Lumen Orbit, rebranded to Starcloud in 2025 after a naming dispute with Lumen Technologies. Developing in-space data processing platforms that run AI workloads on orbiting GPUs, including NVIDIA H100s validated aboard their Starcloud-1 demonstrator. Eliminates the need to downlink raw satellite imagery and sensor data to Earth by running analysis in space and transmitting only results.

Provides orbital transportation and in-space services including their ION Satellite Carrier platform. Increasingly offering in-orbit computing capabilities alongside precision deployment for satellite constellation customers.

Amazon's planned 3,236-satellite LEO broadband constellation. Over $10B committed to development. Targets residential, enterprise, and government connectivity in underserved regions. First production satellites launched in 2024. Competes directly with Starlink for global broadband coverage.

648-satellite LEO broadband constellation, now operated as Eutelsat OneWeb following the 2023 merger with Eutelsat. Primarily targets government, maritime, aviation, and enterprise customers. Has regulatory approval and spectrum rights across most major markets. Backed by the UK government, SoftBank, and Bharti Enterprises.

Telesat's 198-satellite LEO constellation targeting enterprise and government broadband. Designed for lower latency and higher capacity than GEO systems. Backed by $2.1B in Canadian and Quebec government financing. Deliberately smaller than Starlink or Kuiper, targeting high-value enterprise and anchor tenants rather than mass-market consumers.

Building BlueBird LEO satellites that connect directly to unmodified smartphones without special hardware. Partners with AT&T, Verizon, Vodafone, and Rakuten to offer satellite coverage as a seamless extension of existing mobile plans. Addresses the 40% of Earth's surface where terrestrial mobile networks don't reach.

Building the Mosaic autonomous spacecraft for on-orbit inspection and space domain awareness, and developing the Jackal orbital interceptor for US Space Force applications. One of the first companies to explicitly design spacecraft for the contested space environment, combining SSA sensor payloads with maneuvering capabilities for proximity operations in any orbital regime.

Operates a global network of phased-array radars tracking over 20,000 objects in LEO down to 2cm in size. Sells conjunction assessments, collision avoidance services, and orbital analytics to satellite operators, insurers, and governments. As LEO congestion grows, LeoLabs' data becomes critical infrastructure for anyone operating in orbit.

Space domain awareness platform combining commercial sensor networks, government data, and AI analytics. Products include Slingshot Beacon for real-time tracking and Slingshot Seradata for commercial satellite intelligence. Acquired Orbital Insight in 2022, adding geospatial analytics to its SSA platform.

Operates a distributed network of commercial optical telescopes tracking objects in GEO, MEO, and HEO. Provides high-quality GEO belt characterization, satellite anomaly detection, and maneuver analysis to US government and commercial customers. One of the few commercial providers with persistent GEO coverage. Acquired by Anduril Industries in March 2026, expanding Anduril's space domain awareness capabilities.

Indian space situational awareness company developing in-space sensor platforms — satellites that track other satellites from orbit rather than from the ground. Their SCOT (Space Camera for Object Tracking) technology aims to extend SSA coverage beyond what ground-based radar and optical networks can provide.

Provides automated conjunction assessment and collision avoidance software for satellite operators. Their Pathfinder platform analyzes orbital trajectories and generates maneuver recommendations, reducing the workload on flight dynamics teams managing large constellations. Key customer segment: commercial constellation operators with hundreds of satellites.

Kongsberg Satellite Services operates the world's largest commercial ground station network with 26 locations including polar and equatorial sites. Covers all orbital regimes and frequencies. Provides turnkey data downlink, command and control, and telemetry services to nearly every major satellite operator and space agency globally.

European ground station network providing cloud-based satellite communication services. Operates compact antenna systems at multiple sites, offering operators on-demand downlink capacity without building their own ground infrastructure. Targets the growing small satellite and constellation market.

Ground station network aggregator connecting satellite operators to a global marketplace of antenna assets. Brokers unused antenna capacity from third-party ground station owners, expanding coverage without building new infrastructure. Serves constellation operators needing high-contact frequency for LEO satellite passes.

Rideshare deployment specialist providing separation systems, deployment services, and mission management for small satellites launching on SpaceX Falcon 9 and other rideshare vehicles. Their EXOpod deployers and CarboNIX separation system are flight-proven on dozens of missions. Bridges the gap between rideshare launch and final orbital placement, managing all integration and deployment logistics for constellation operators who don't want to own that interface.

Amazon's managed ground station service integrating satellite downlink directly into AWS cloud infrastructure. Operators pay per minute of contact time rather than owning antennas. Data flows directly into S3, EC2, and analytics services. Removes the capital cost of ground infrastructure for commercial and government satellite operators.

Microsoft's cloud-integrated ground station service allowing satellite operators to downlink and process data through Azure. Partners with existing ground station networks to provide coverage without building antennas. Integrated with Azure Orbital Analytics for satellite imagery processing and AI workloads.

Formed by the merger of L3 Technologies and Harris Corporation. One of the largest US defense contractors in space. Builds intelligence satellites, space sensors, and radio frequency systems for the NRO, USAF, and Space Force. Also developing proliferated LEO satellites for resilient government communications under SDA contracts.

RTX's space division develops missile warning satellites, space sensors, and ground systems for the US Space Force and NRO. Builds payloads for SBIRS missile warning satellites and next-generation overhead persistent infrared systems. Key contractor for US strategic space deterrence infrastructure.

Builds satellite ground systems, command and control networks, and protected military satellite communications for the DoD. Key contractor for AEHF (Advanced Extremely High Frequency) satellite ground systems and Milstar mission planning. A primary integrator of US military space ground infrastructure.

IT and systems integration contractor supporting national security space programs. Manages large-scale satellite ground systems, space domain awareness networks, and intelligence data pipelines for the NRO, NSA, and Space Force. One of the largest government IT contractors in the US national security space sector.

Largest commercial satellite imagery provider for the US government. Operates WorldView and GeoEye imaging constellations providing sub-30cm resolution optical imagery. Also manufactures GEO satellite buses sold to commercial operators. Taken private by Advent International in 2023. Primary commercial imagery supplier for NGA and US intelligence community.

Builds classified intelligence satellites for the NRO and communications satellites for the US military. Also developed the Mission Extension Vehicle (MEV), the first commercial satellite servicing system to physically dock with an operational GEO satellite. MEV contracts reveal market-based pricing for orbital slot preservation.

Largest commercial space insurance underwriter globally, covering launch, in-orbit operations, and third-party liability. Insures commercial satellites, government payloads, and launch vehicles. Their actuarial data and claims history represent the deepest private dataset on satellite failure modes, orbital risk, and asset valuation across all regimes.

Specialist space and aviation insurance underwriter covering satellite launch, in-orbit operations, and product liability for satellite manufacturers. A leading market in the London space insurance syndicate. Their policy terms and premium rates are direct indicators of perceived risk at specific orbital positions and for specific satellite bus designs.

Specialist insurance brokerage for the space industry, placing satellite launch and in-orbit coverage in the London market. Advises satellite operators, launch providers, and spacecraft manufacturers on risk structuring. Their placement data provides insight into market-clearing premium rates and underwriting appetite for new orbital regimes.

Maritime AI platform using AIS satellite data, optical imagery, and behavioral analytics to track vessel movements and flag sanctions violations, smuggling, and illegal fishing. Primary customers are governments, compliance teams, commodity traders, and shipping companies. Demonstrates how satellite data becomes a compliance and financial intelligence product.

Converts SAR satellite imagery into structured economic intelligence on oil storage, agricultural production, and infrastructure utilization. Customers are commodity traders, hedge funds, and government agencies that need persistent physical monitoring of global supply chains. Their datasets are inputs to trading models and risk assessments.

Satellite-derived signals for financial markets. Products include MetalSignals (copper inventory at smelters from satellite imagery) and RetailSignals (parking lot utilization as a proxy for same-store sales). Customers are quantitative hedge funds and equity researchers who pay for satellite-derived alternative data as an investment edge.

Satellite imagery analytics platform tracking economic activity from orbit. Products include the China Satellite Manufacturing Index (tracking factory activity) and infrastructure monitoring across emerging markets. Provides governments and financial institutions with independent, satellite-derived measures of economic output.

Provides high-cadence sub-meter satellite imagery analytics to governments in Latin America, the Middle East, and Africa. Focuses on making satellite intelligence affordable for emerging market governments historically excluded from premium imagery pricing. Also sells to commercial agricultural and infrastructure monitoring customers.

Operates a constellation of RF geolocation satellites that detect, characterize, and geolocate radio frequency emissions from the ground, sea, and air. Identifies vessels disabling their AIS transponders to evade tracking, locates illegal fishing and smuggling operations, and monitors spectrum use globally. Primary customers are US and allied governments, maritime insurers, and commodity traders needing independent physical verification of vessel behavior.

RF reconnaissance satellite operator providing ship activity intelligence derived from radio frequency signal detection. Their Scouting Mission constellation passively detects vessel radio emissions to build a picture of maritime activity in regions where AIS tracking is unreliable or deliberately circumvented. Serves defense, intelligence, and maritime security customers needing independent verification of who is operating at sea.

Operates hyperspectral satellite sensors to monitor pipelines, industrial facilities, and environmental compliance from orbit. Can detect hydrocarbon leaks, chemical spills, and unauthorized discharges across thousands of miles of infrastructure continuously. Primary customers are oil and gas majors and regulators needing persistent infrastructure integrity monitoring.

Building in-space propellant depots and refueling infrastructure for satellite operators. Their RAFTI (Rapidly Attachable Fluid Transfer Interface) is an open standard for satellite refueling. Signed contracts with US government customers to deliver propellant in orbit. Enabling satellite life extension without requiring spacecraft servicing rendezvous.

Building the Droid spacecraft for in-space transportation, debris removal, and satellite inspection. Their dual-use approach — using the same vehicle for commercial satellite servicing and debris capture — targets the emerging market for on-orbit mobility as an operational service rather than a mission-specific capability. Backed by US government contracts for cislunar domain awareness.

ESA-contracted active debris removal company. ClearSpace-1, launching around 2026, will capture and deorbit the Vespa adapter left in orbit by a 2013 Vega launch. First commercial active debris removal mission. Also developing servicing capabilities applicable to end-of-life satellite disposal and orbit transfer.

Operates Vigoride orbital transfer vehicles for last-mile satellite delivery and in-space transportation. Uses microwave electrothermal propulsion. Targets the gap between rideshare launch drop-off points and final operational orbits, serving constellation operators who need precise satellite placement after launch.

Developing a LEO satellite navigation constellation to augment or replace GPS. LEO-based PNT delivers 1,000x stronger signals than GPS, enabling centimeter-level accuracy and resistance to jamming and spoofing. Target customers include autonomous vehicles, precision agriculture, surveying, and defense applications where GPS vulnerability is a mission risk.

Provides GPS-independent positioning, navigation, and timing using Iridium's LEO constellation. Their Satellite Time and Location (STL) service delivers indoor and underground PNT where GPS signals cannot penetrate. Target markets include financial infrastructure requiring precise timing, critical infrastructure, and defense applications requiring GPS backup.

Building a dedicated LEO navigation constellation with encrypted, high-power signals designed to be GPS-independent. Targeting defense and critical infrastructure customers where GPS jamming and spoofing are active threats. Backed by DARPA research and US government interest in assured PNT for contested environments.

Venture capital fund focused exclusively on the space economy. Has invested in over 100 space companies across launch, satellite, ground systems, and applications. Publishes the quarterly Space Investment Quarterly tracking global investment flows into the space sector. One of the most active and visible space-focused investors globally.

World's first dedicated space VC fund. Manages SpaceTech accelerator and a publicly listed Space SPAC (SSIT on London Stock Exchange). Portfolio includes over 80 space companies. Seraphim's portfolio companies represent a cross-section of the commercial space economy, making their investment thesis a proxy for where institutional capital sees space opportunity.

Early-stage VC fund investing in space infrastructure and deep tech. Focus on foundational technology companies across launch, satellites, ground systems, and in-space manufacturing. Part of the growing cohort of dedicated space funds that have emerged alongside the commercialization of the sector since 2015.

Primary contractor for NASA's next-generation Exploration Extravehicular Mobility Unit (xEMU), the suit designed for Artemis lunar surface operations. Also manufactures the existing EMU suits used on the ISS. A division of RTX (Raytheon Technologies). Decades of heritage in life support systems, pressure garments, and astronaut safety equipment.

Manufactures the pressure garment — the inner suit that keeps astronauts alive — for NASA's EVA systems. Built every Apollo moonwalking suit and the current ISS EMU pressure garment. Also produces inflatable habitat structures and flexible composite components for spacecraft. The most experienced pressure garment manufacturer in the world.

Developed the AxEMU (Axiom Extravehicular Mobility Unit) under NASA contract as the spacesuit for Artemis lunar surface missions. The AxEMU is designed for greater mobility and thermal performance than legacy ISS suits, with a modular design intended for future commercial sale. Axiom is the first private company to win a NASA contract to develop a lunar surface suit.

Independent spacesuit company developing IVA (intravehicular activity) pressure suits for commercial spaceflight. Their suits are designed for launch and reentry emergencies rather than spacewalks. Targeting the commercial human spaceflight market including space tourism operators and private astronaut programs needing certified pressure suits at lower cost than legacy NASA contractors.

Manufacturer of partial-pressure and full-pressure suits for military aviation and spaceflight. Built the pressure suits worn by U-2 and SR-71 pilots and Mercury-era astronauts. Today supplies full-pressure suits to military test pilots and high-altitude aircraft crews. Deep engineering heritage in life support for extreme altitude environments with direct applicability to commercial space.

Converts atmospheric CO2 and water into synthetic natural gas using electricity, with a goal of producing pipeline-grade methane cheaper than fossil extraction. On Earth: a carbon-neutral fuel source. On Mars: the same process running on the 95% CO2 Martian atmosphere produces rocket propellant and life support feedstocks from local resources. Founded by physicist Casey Handmer as foundational technology for making Mars self-sufficient.

Conducting stratospheric aerosol injection (SAI) experiments by releasing sulfur dioxide into the stratosphere to reflect sunlight and lower surface temperatures. The most direct private-sector attempt at planetary-scale atmospheric management. Deeply controversial — banned by Mexico after unauthorized releases. Represents the first commercial application of solar geoengineering and a preview of the governance challenges that planetary-scale intervention will require.

Enhances ocean alkalinity to accelerate natural carbon mineralization at planetary scale. By adding alkaline minerals to seawater, the ocean absorbs more CO2 as stable bicarbonate ions. The same geochemical engineering principles — deliberately altering the chemistry of a planetary-scale system — underlie long-term Mars and Venus terraforming concepts. One of the few companies treating geochemistry as an engineering discipline.

Operates direct air capture (DAC) plants that chemically extract CO2 directly from the atmosphere. Their Mammoth plant in Iceland is the largest operational DAC facility in the world. The technology is a direct precursor to Mars atmospheric processing: the same CO2 capture chemistry, run in reverse, could be used to concentrate Martian CO2 for propellant production or to manage atmospheric composition during terraforming.

Australian satellite IoT company operating a LEO constellation for direct-to-satellite sensor connectivity. Targets agriculture, water management, mining, and environmental monitoring in remote regions. Uses a low-power, low-data-rate protocol optimized for battery-powered sensors that transmit small messages — locations, readings, alerts — directly to satellites without terrestrial network infrastructure.

French satellite IoT company deploying a 25-satellite LEO constellation for asset tracking and remote sensor connectivity. Backed by CNES and a consortium of French institutional investors. Successor to the Argos system used by NOAA for decades to track ocean buoys and wildlife. Targets maritime, logistics, agriculture, and environmental monitoring at global scale.

Swiss satellite IoT network operator targeting remote industrial and environmental monitoring. Partners with Airbus for satellite manufacturing. Their nanosatellite constellation provides two-way messaging for sensors in agriculture, oil and gas, maritime, and disaster response. Designed to complement terrestrial IoT networks rather than replace them.

Building a LEO satellite constellation that extends the 5G NB-IoT standard into space. Any NB-IoT device — the most widely deployed IoT protocol globally — can connect directly to Sateliot satellites without hardware modification. Targets the billions of existing IoT devices that operate in remote areas outside terrestrial 5G coverage.

Operates VSS Unity, a suborbital spaceplane carried aloft by a mothership before rocket ignition. Completed first commercial spaceflight in 2023. Tickets priced at ~$450K per seat. Has approximately 800 reservations from paying customers. Targeting weekly flights from Spaceport America in New Mexico, with Delta-class vehicles planned for higher cadence operations.

The only company to have brokered orbital space tourism to date. Arranged eight private citizen flights to the ISS aboard Russian Soyuz spacecraft between 2001 and 2009, including Dennis Tito as the first space tourist. Now partnering with SpaceX to offer lunar flyby missions on Crew Dragon. Has generated more orbital tourism revenue than any other company.

Developing Voyager Station, a commercial space station designed for tourism, research, and manufacturing. Uses a rotating ring structure to create artificial gravity via centripetal force. The station concept prioritizes hotel-like habitability for paying guests rather than the utilitarian design of ISS. Targeting construction in the late 2020s, contingent on launch cost reductions from Starship.

Offers stratospheric balloon flights to 100,000 feet in a pressurized capsule called Spaceship Neptune. While technically below the Karman line, passengers experience the curvature of Earth and the blackness of space for a six-hour round trip. Tickets priced at ~$125K. A lower-cost, lower-risk entry point into the space tourism market targeting customers for whom a rocket launch is too extreme.

Developing a high-power large GEO satellite platform targeting the next generation of commercial and government geostationary missions. Aims to dramatically reduce the cost and lead time of large GEO satellite construction by standardizing the bus and scaling manufacturing. Backed by venture capital and targeting the defense and commercial GEO market where demand for higher-power platforms is growing.

Europe's largest space company and one of the top three satellite manufacturers globally. Builds Eurostar GEO communication satellites for operators including SES, Intelsat, and Inmarsat. Also manufactured the OneWeb LEO constellation and builds Earth observation, weather, and science satellites for ESA and government customers. Annual space revenue exceeds €3B.

Joint venture between Thales (67%) and Leonardo (33%). One of the world's leading satellite manufacturers, producing the Spacebus GEO platform, ISS pressurized modules, and Earth observation satellites. Built the COSMO-SkyMed radar constellation and multiple Copernicus program satellites for ESA. Revenue ~€2B/year from commercial and institutional customers.

Manufactures the 702 satellite bus, one of the most widely deployed GEO platforms, powering satellites for Intelsat, SES, and government customers. Also develops the CST-100 Starliner crewed vehicle for NASA's Commercial Crew Program and builds classified satellites for US national security customers. One of the few companies with both crewed and uncrewed space vehicle heritage.

High-volume small satellite manufacturer using a standardized S-class platform to rapidly build constellations. Targets cost reduction through manufacturing repeatability rather than custom engineering. Produces dozens of satellites per year for commercial and government customers. Positioned to benefit from the proliferated LEO trend where operators need hundreds of satellites rather than a few large GEO assets.

British small satellite manufacturer owned by Airbus. Pioneered the concept of affordable small satellites using commercial off-the-shelf components in the 1980s and 1990s, a philosophy that became foundational to the modern small satellite industry. Has built over 60 satellites for government and commercial customers. Operates its own Earth observation constellation and manufactures platforms for third-party operators.

Small satellite manufacturer acquired by Lockheed Martin in 2024. Builds small satellites for commercial and government customers including the US Space Force. Their Tyvak platform supports Earth observation, IoT, and technology demonstration missions. The Lockheed acquisition positioned Terran Orbital as the prime's small satellite manufacturing arm, giving Lockheed vertical integration from platform to payload.

Grows protein crystals in microgravity aboard the ISS to develop next-generation retinal implants. Protein crystallization in microgravity produces larger, more ordered crystals than Earth-grown equivalents, enabling higher-purity active ingredients. Their bacteriorhodopsin-based retinal implant targets restoration of vision in patients with degenerative retinal disease. A direct commercial application of in-space manufacturing for pharmaceutical use.

Contract research organization operating miniaturized lab systems on the ISS and other platforms for pharmaceutical, biotech, and materials science customers. Manages the full pipeline from experiment design through data delivery. Enables biotech companies to access microgravity without managing their own launch logistics or space operations. Growing demand from drug developers exploring microgravity protein crystallization and cell biology.

University of Colorado spinout operating as a commercial ISS payload integrator and life sciences research facility. Has flown over 200 experiments on Space Shuttle, Mir, and ISS across pharmaceutical development, stem cell biology, and cancer research. Manages hardware development, launch integration, and on-orbit operations for commercial and academic life sciences customers.

Zero-trust cybersecurity platform for space and critical infrastructure. Protects satellite command and control links, ground station networks, and space mission systems from unauthorized access and cyberattack. As satellite constellations scale and attack surfaces grow, Xage's distributed enforcement approach — no single point of failure — is directly suited to the architecture of multi-satellite operations.

Observability and cybersecurity platform for operational technology including spacecraft and ground systems. Monitors onboard data buses in real time to detect anomalies, unauthorized commands, and system failures. Originally built for military aircraft, now expanding to satellite systems and launch vehicles where software supply chain attacks and insider threats are growing concerns for DoD and commercial operators.

Federally Funded Research and Development Center (FFRDC) providing independent technical analysis for US national security space programs. Conducts space cybersecurity assessments, vulnerability research, and resilience planning for Space Force, NRO, and intelligence community customers. Increasingly relevant as adversary cyber capabilities targeting US space systems grow. Also advises on commercial space cybersecurity standards.

Developing space-based solar power satellites that collect sunlight continuously in GEO orbit and transmit energy to Earth via microwave or laser beam. GEO satellites receive sunlight 24/7 without atmospheric attenuation, making space solar theoretically 8x more productive than ground solar. Raised early-stage funding in 2023. Long-development-horizon technology that requires dramatic launch cost reductions to become economical.

Develops long-range wireless power transmission technology using microwave beams. While initially targeting terrestrial applications — transmitting electricity across difficult terrain without cables — the same beaming technology is the critical enabling layer for space-based solar power. Demonstrated wireless power transmission over hundreds of meters. Partnered with Powerco, a New Zealand utility, for grid-connected trials.

UK industry consortium developing a roadmap for gigawatt-scale space-based solar power. Backed by the UK government's National Space Strategy. The CASSIOPeiA satellite concept — a novel asymmetric design — is their reference architecture. Working toward a 2035 demonstration mission. One of the most credible institutional efforts to make space solar power a funded reality rather than a conceptual study.

Weather intelligence company operating its own satellite constellation to improve forecast accuracy. Their microwave radar satellites measure atmospheric moisture profiles globally. Also offers space weather monitoring products tracking solar storms, geomagnetic disturbances, and ionospheric conditions that affect satellite drag, GPS accuracy, and power grid stability. Sells to aviation, logistics, utilities, and satellite operators.

Satellite-based solar irradiance forecasting service. Uses satellite imagery and physics-based modeling to produce high-resolution solar resource assessments and forecasts globally. Customers include solar energy developers, utilities, and grid operators. The same satellite-derived atmospheric data that drives solar forecasting is relevant to space weather characterization, particularly for satellite drag prediction in LEO during periods of high solar activity.

Italian satellite services company jointly owned by Leonardo (67%) and Thales (33%). Operates ground stations, teleports, and satellite control centers globally. Provides satellite operation services, earth observation data delivery, and satellite navigation services to commercial and government customers. Manages ground infrastructure for ESA missions and several European GEO satellite operators.

EchoStar subsidiary operating HughesNet, the largest satellite internet service in the Americas with over 1 million subscribers. Manufactures VSAT terminals and operates the JUPITER GEO high-throughput satellite platform. Also provides enterprise satellite networks, in-flight connectivity, and maritime broadband. One of the oldest and largest satellite broadband operators, with significant installed base ahead of LEO constellation competition.

Largest US defense contractor's space division. Builds classified intelligence satellites for the NRO, GPS III navigation satellites for the Space Force, and the A2100 GEO satellite bus used by SES, Intelsat, and others. Also developing the Orion crewed spacecraft for NASA's Artemis lunar program. Annual space revenue exceeds $11B. One of the three dominant primes in US government space programs alongside Northrop Grumman and Boeing.

Developing technology to extract helium-3 from the lunar regolith for use in fusion energy reactors and medical imaging on Earth. Founded by Rob Meyerson, former president of Blue Origin, and Gary Lai, former Blue Origin chief architect. Helium-3 is vanishingly rare on Earth but concentrated in the lunar surface layer by billions of years of solar wind bombardment. If fusion power scales, lunar helium-3 becomes one of the most valuable resources in the solar system.

Developing lunar ice mining systems targeting water ice deposits at the lunar south pole. Water ice can be electrolyzed into hydrogen and oxygen for rocket propellant, making lunar ice the key enabler of a cislunar propellant economy. Propellant sourced from the Moon rather than launched from Earth dramatically reduces the cost of missions beyond Earth orbit.

Formerly Ball Aerospace, acquired by BAE Systems in 2023. One of the most experienced spacecraft and instrument builders in the US. Built the corrective optics for Hubble, instruments on the James Webb Space Telescope, and spacecraft for NASA science missions. Also builds weather satellites, reconnaissance systems, and electronic warfare payloads for government customers.

Manufactures precision motion control components for spacecraft including reaction control thrusters, propellant valves, mechanisms, and flight control actuators. Moog components fly on virtually every major US launch vehicle and spacecraft. Their satellite propulsion products handle station-keeping, attitude control, and orbit maneuvers for GEO and LEO operators worldwide.

Manufactures imaging sensors, detectors, and scientific instruments for space missions. Their CMOS and CCD sensors fly on planetary rovers, Earth observation satellites, and space telescopes. Teledyne e2v's sensors are in the Euclid space telescope and Gaia astrometry mission. Also produces radiation-hardened electronics and power management systems for spacecraft operating in high-radiation environments.

Danish manufacturer of CubeSat and small satellite components and complete platforms. Their product line spans power systems, radios, onboard computers, and attitude control systems. Has supplied hardware to hundreds of university, government, and commercial small satellite missions globally. A foundational supplier to the small satellite ecosystem.

European small satellite manufacturer and shared satellite services provider. Builds standardized CubeSat and microsatellite platforms and offers hosted payload services — renting space on their satellites so customers can fly instruments without building a complete spacecraft. One of the most active small satellite operators in Europe, with a constellation of demonstration and commercial satellites.

Baltic small satellite bus manufacturer producing the M6P platform, one of the most widely used commercial small satellite buses globally. Provides complete satellite solutions including bus, integration, testing, and launch services. Acquired by Kongsberg Defence & Aerospace in 2021. Has delivered satellites for IoT, Earth observation, and technology demonstration customers across Europe, the US, and Asia.

UK-Swedish small satellite manufacturer and operator. Builds CubeSat and small satellite platforms, power systems, and onboard computers. Also operates its own constellation of small satellites providing Earth observation and IoT connectivity services. One of the most established small satellite companies in Europe with hardware on over 100 missions.

Architecture and technology company specializing in 3D-printed habitats for space and Earth. Won NASA's Phase 3 3D-Printed Habitat Challenge with MARSHA, a vertical Mars habitat printed from basalt fiber and bioplastic derived from local resources. Also developing TERA, a terrestrial version of their space habitat system. Represents the convergence of architecture, materials science, and space ISRU.

Space Exploration Architecture, an interdisciplinary design studio developing habitat concepts for the Moon and Mars. Won multiple NASA competition phases for their Constance lunar habitat, which integrates natural lighting, radiation shielding, and human factors research. Partners with aerospace engineers, life scientists, and NASA centers to translate architectural research into mission-relevant designs.

Global architecture and design practice with a dedicated space architecture research program. Developed a lunar base concept for ESA that uses inflatable modules covered with regolith-printed structural shells, protecting inhabitants from radiation and micrometeorites. Their work on human factors, circadian lighting, and psychological wellbeing in confined environments informs both space habitat design and Earth applications.

One of the world's largest architecture firms, with a dedicated space architecture practice. Partnered with MIT and Launched to design a spinning space station concept that generates artificial gravity through rotation. Also produced detailed studies of Moon Village and Mars surface habitat architectures for NASA and ESA. SOM brings structural engineering and large-scale building expertise to the challenge of constructing permanent human settlements beyond Earth.