Launch Services

Launch services provide the transportation layer that delivers satellites, cargo, and eventually humans from Earth's surface to orbit, serving the explosive growth of the space economy that reached $613 billion in 2024. The global launch services market reached approximately $21 billion in 2025 and is projected to grow to $70 billion by 2035, driven by constellation deployment (thousands of satellites for communications, earth observation, and defense), the emergence of in-space transportation services, and the declining cost per kilogram to orbit that makes entirely new space applications economically viable.

SpaceX dominates the market with approximately 57% of global launches and 95% of U.S. government launch share. In 2025, SpaceX completed 165 flights including 5 Starship test flights, representing the vast majority of U.S. launch activity. Falcon 9 achieves approximately $2,720 per kilogram to low Earth orbit through first-stage reusability (up to 20 reuses per booster), while Starship projects costs as low as $10-20 per kilogram at full reusability, a reduction that would fundamentally reshape the economics of every space application. The Transporter-15 rideshare mission delivered 140 payloads from 30+ customers across 16 countries, demonstrating the rideshare model that cuts small satellite launch costs by 60-80% compared to dedicated missions.

The competitive landscape is entering a critical inflection point in 2026-2027 as multiple new vehicles reach operational status. Blue Origin's New Glenn achieved its second successful flight in November 2025 with booster landing, establishing a viable heavy-lift alternative. Rocket Lab won an $805 million SDA contract for 18 missile warning satellites and is developing the Neutron medium-lift rocket for late 2026. Relativity Space began flight production of Terran R, a 3D-printed rocket with maiden flight planned for late 2026. Stoke Space raised $510 million in Series D for a fully reusable rocket. Space technology companies collectively raised $8.17 billion in equity funding across 188 rounds in 2025, a 154% increase from 2024.

In-space transportation is emerging as a distinct category within launch services. The U.S. Space Force has four satellite refueling demonstration missions planned for 2026, including the first-ever refueling of a U.S. military asset in geostationary orbit by Astroscale. Orbit Fab is launching the first orbital propellant depot in June 2026. The orbital servicing market is projected to grow from $1.2 billion (2024) to $6.7 billion by 2034.

For founders, launch services technology in 2026 rewards companies serving the infrastructure and services layer rather than building launch vehicles (which require billions in capital). The most fundable approaches include rideshare and launch brokerage services (Exolaunch model), in-space transportation and orbital servicing, mission planning and integration software, ground systems automation, and the satellite deployment and commissioning services that constellation operators need as they scale from dozens to thousands of satellites.