Space Tech Is Blasting off Commercially

The space industry is no longer driven mainly by government programs. Private companies, investors and government agencies are now working together to build businesses around satellites, communications, logistics and other space-related services.

Most people know SpaceX through its rockets and Starlink satellites. But it is only one part of a broader space-technology market. PitchBook reports that space-tech companies raised more than $11 billion across 244 deals in the first half of 2026, following a busy year in 2025.

These companies are working in areas such as defense, communications, Earth observation, orbital delivery systems and spacecraft propulsion. A mission to Mars draws attention, but much of today’s work is focused on practical services closer to Earth.

A few examples of companies held within underlying venture portfolio funds managed by AMG show how this market is developing:

• Muon Space uses satellites to collect Earth observation data for environmental monitoring and defense-related uses.
• Loft Orbital helps customers place equipment on satellites without building an entire spacecraft from scratch. Its standard satellite platform is meant to shorten launch timelines.
• Kepler Communications is building a satellite network designed to provide communications in space. The company has sent 33 satellites into orbit.
• Astranis builds small communications satellites for governments and commercial customers. It has five satellites in orbit and more than 10 under contract.
• General Galactic develops fuel and propulsion systems intended to help spacecraft move and operate more efficiently.