Space Has Never Been More Important For Global Security And Prosperity

BusinessAerospace & DefenseSpace Has Never Been More Important For Global Security And ProsperityByMichael P. Dempsey,Contributor.Forbes contributors publish independent expert analyses and insights. Dempsey is a senior advisor at The Eurasia Group,Follow AuthorJun 05, 2026, 06:39pm EDTA full moon rises as the Space Launch System (SLS) rocket and the Orion spacecraft, integrated for the Artemis II mission, are seen at Launch Pad 39B at the Kennedy Space Center in Cape Canaveral, Florida, on February 1, 2026 ahead of the first crewed mission to the Moon in more than 50 years. (Photo by Miguel J. Rodriguez Carrillo / AFP via Getty Images)AFP via Getty ImagesSpace is one of the most consequential and yet least understood areas of global affairs—simultaneously a contested warfighting domain, a booming frontier of commercial opportunity and scientific exploration, and a proving ground for the technologies that will define the coming decades of global economic competition. International attention on space spiked this past April when NASA’s Artemis II mission successfully completed the first crewed flight beyond low Earth orbit in more than half a century. So to help provide an overview of this exciting and rapidly evolving domain I offer a roadmap into several of the key trends that government and corporate leaders should understand and factor into their strategic planning going forward, drawn largely from my experience of the past seven years working as Northrop Grumman’s VP of strategy and development for space, cyber, and intelligence. Government Spending On Defense Space Enters A New Era The US Space Force’s budget request for 2027 calls for a 124 percent increase over this year’s allocation, rising to more than $70 billion annually. This includes $7 billion for better satellite communications; nearly $7 billion for investments in missile warning and tracking; and $21 billion for the space control assets necessary to bolster America’s space-based warfighting capab...