Enlarge / Firefly Aerospace test-fired its new Miranda engine for the first time last year. Firefly was among the top companies receiving private investment in 2023. (credit: Firefly Aerospace)
Private investors pumped $12.5 billion into space companies last year, around 30 percent more than the year before, but still shy of the space investment boom of 2021.
This is welcome news for cash-hungry startups in the space sector, but investors are becoming more diligent about where they put their money. This has led to a consolidation frenzy, with space companies merging or acquiring one another. And more investors are choosing not to prop up unsuccessful companies, meaning some firms will be doomed to fail.
The latest figures on global private investment come from Space Capital, a venture capital shop that exclusively invests in the space industry. Space Capital publishes a quarterly report outlining trends across several space industry sectors, including infrastructure, applications, distribution, and emerging markets.