The New Space Economy and the Shape of Private Power

How launch cadence, defense procurement, and orbital infrastructure reshape the boundary between state capacity and private balance sheets. The commercial-space stack is no longer a separate sector; it is becoming a quiet input to industrial policy, national resilience, and the capital allocation decisions of firms far from the launchpad. How launch cadence, defense procurement, and orbital infrastructure reshape the boundary between state capacity and private balance sheets. The commercial-space stack is no longer a separate sector; it is becoming a quiet input to industrial policy, national resilience, and the capital allocation decisions of firms far from the launchpad.

The important question is not whether the system is changing, but which assumptions remain useful while it does.

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