If the period 2020 - 2025 is associated with the artificial intelligence (AI) revolution, then from 2026, the world will step into a larger turning point: Exploiting and controlling low orbit space.
The golden age of space economy is marked by information that SpaceX is preparing to issue its initial public offering in June, with an expected valuation of 1,500 billion USD and raised capital of up to 50 billion USD - possibly the largest deal in history.
Going beyond the market story, the combination of SpaceX and AI startup xAI is forming a new ecosystem, where orbit, data and AI are connected into one.
The space race is therefore no longer purely economic competition, but has become a two-lane game: Private innovation in parallel with the national military strategy.
In the 20th century, the space race was a confrontation between the US and the Soviet Union, symbolic and funded by public budget.
Today, the main role belongs to private enterprises. Power is no longer measured by who set foot on the moon first, but by who controls data, connections and intelligence on low Earth orbit. This is the era of "duality", when commercial satellites are also military infrastructure, according to SCMP.
Companies like BlackSky or Planet Labs (USA), which provide geospatial data for insurance, agriculture and logistics, have now expanded to intelligence, surveillance and reconnaissance for the government.
BlackSky, since 2022, provides near-real-time images and AI analysis for combat operations in Ukraine.
SpaceX's Starlink also quickly became the backbone of Ukrainian military communication, from coordinating units, controlling UAVs to maintaining command and control before electronic warfare.
The US government not only shops, but also deeply integrates private enterprises - even those from outside the US - into the national security architecture.
Rocket Lab is a typical example; from a New Zealand startup, the company moved its headquarters to the US, attracted capital from BlackRock, Vanguard and became a key military contractor.
At the end of 2025, Rocket Lab won a $816 million contract to build 18 missile tracking satellites for the US Agency for Space Development, bringing the company to the same strategic position as traditional defense "giants".
The rapid integration of the Western "alliance space" strategy creates great pressure on China. Beijing is accelerating the deployment of satellite clusters such as G60 Starlink or Guowang according to the military-civilian combination model.
However, the US private sector has a higher pace of innovation, causing the gap to widen. To compete effectively, China may have to grant more autonomy to the private commercial space sector, instead of dependence on large-scale state-owned corporations.
Stepping into 2026, the space economy clearly reveals its nature as a high-intensity military race. Future conflicts depend not only on traditional weapons, but also on the ability to control low Earth orbit.
In this trillion-dollar space age, the boundary between commercial symbols and military assets has almost disappeared.
