Launch After Starship:
Prices, Capacity and European Sovereign Launch
The price of launch is set by one company's choices, not by a competitive market. SpaceX flew 165 of the world's 329 launches in 2025, 122 of them for its own Starlink, and earned about $60 million per customer launch while its costs fell with booster reuse. Starship reached orbit with its first operational payload in September 2026; whether customers see its lower costs depends on competition that is still late. Europe has recovered sovereign access with Ariane 6 and pays about €0.4–0.6 billion a year for it on Setcoin's estimate.
- 329
- Launches worldwide, 2025
- 50%
- Flown by Falcon 9
- ~$60M
- Per SpaceX customer launch
- 180 min
- Read, 45 chapters
Chapters
What each chapter answers
- 015 min · Free
Executive Summary
What will a kilogram to orbit cost, who will supply it, and can Europe close its gap?
Key figures - 026 min · Free
Sixty Years of the Price of a Kilogram
How has the cost of reaching orbit changed since the 1960s?
Ranking - 034 min · Free
Forty Years of Commercial Launch Competition
How has commercial launch been contested since the 1980s?
Timeline - 045 min · Subscribers
The Market Today: Who Launches What
How many rockets fly, from which countries and on which vehicles, and how concentrated is the market?
- 054 min · Subscribers
Anatomy of a Launch Price
What does a launch price pay for?
Ranking - 064 min · Subscribers
Reliability: Why New Rockets Fail and What It Costs
How reliable are new rockets, and what does unreliability cost?
Ranking - 076 min · Subscribers
SpaceX's Launch Business, from Its Own Filing
What does SpaceX's own filing reveal?
Key figuresSplit - 084 min · Subscribers
Inside the Accounts: How Reuse Shows Up in the Books
What do SpaceX's accounting policies reveal?
Ranking - 094 min · Subscribers
Falcon 9 Reuse: How a Booster Flies 37 Times
How did booster reuse go from experiment to routine, and what does it save?
- 105 min · Subscribers
Starship: What Has Flown and What It Could Cost
What has Starship shown, and what could a kilogram cost on it?
- 114 min · Subscribers
Starship's Other Markets
Beyond launching satellites, what markets could a fully reusable super-heavy rocket open, and how real are they?
- 124 min · Subscribers
Heavy Lift Today: Falcon Heavy, Vulcan, New Glenn and SLS
Who launches the heaviest payloads, and how will Starship change that?
Ranking - 133 min · Subscribers
Starship Cadence Scenarios to 2030
How many Starship flights, and how much mass?
- 146 min · Subscribers
The Challengers: Vulcan, New Glenn, Neutron and the Next Medium Class
Which Western rockets could compete before 2030?
- 154 min · Subscribers
Small Launch After the Shake-Out
Is there a viable business in launching small satellites on dedicated small rockets, and who has survived?
- 164 min · Subscribers
Rocket Lab: The Economics of the Second Launch Company
What do Rocket Lab's results show?
Key figures - 174 min · Subscribers
China's Launch Industry
How large is China's launch industry, how is it organised, and how close is it to reusable rockets?
- 183 min · Subscribers
How China Finances Its Launch Industry
How are China's commercial launch companies funded?
Ranking - 194 min · Subscribers
Japan, India, Korea and the Rest
How are the other launching nations doing, and do they matter to the global market?
- 204 min · Subscribers
Europe I: Ariane 6 and Vega C
Has Europe recovered independent access to space?
Key figures - 213 min · Subscribers
Inside an Ariane 6 Launch
Why does an Ariane 6 launch cost what it does?
Ranking - 224 min · Subscribers
Europe II: The Launcher Challenge
Can Europe create competitive launch companies?
Ranking - 234 min · Subscribers
Europe III: What Sovereignty Costs
What does Europe pay each year for its own access to space?
- 243 min · Subscribers
Europe IV: The Industrial Base and the Path to Reuse
What does Europe's launch industry look like, how is it organised, and what would it take to build a reusable European rocket?
- 254 min · Subscribers
Spaceports and Range Capacity
Is ground capacity becoming a constraint?
- 263 min · Subscribers
Spaceport Economics
How are spaceports paid for?
- 274 min · Subscribers
The Economics of Reuse
When does a reusable rocket cost less than an expendable one?
Ranking - 284 min · Subscribers
Engines, Propellants and the Launch Supply Chain
Which parts of the launch supply chain are concentrated, which are growing, and where could a single failure stop several rockets?
- 294 min · Subscribers
Demand I: Constellations
How much launch will constellations need to 2035?
Ranking - 303 min · Subscribers
How Launch Prices Shape Satellites
How do satellite designers respond to cheaper launch?
Ranking - 314 min · Subscribers
Demand II: Governments, Defence and Human Spaceflight
How much launch will governments buy to 2035, for what, and on what terms?
- 323 min · Subscribers
National Security Launch in Depth
How does the US buy national security launches?
Split - 333 min · Subscribers
The Crew Market: Seats, Stations and Private Astronauts
What does it cost to fly a person to orbit?
Ranking - 343 min · Subscribers
Responsive Launch and Military Demand
Will armed forces need rockets that can launch within days or hours, and who could provide them?
- 354 min · Subscribers
The Lunar and Deep-Space Launch Market
How much launch does the return to the Moon require, who provides it, and how does it compare with Earth-orbit demand?
- 364 min · Subscribers
Supply and Demand, 2026–2035
Will there be enough launch capacity?
- 374 min · Subscribers
Price Scenarios for 2030 and 2035
What will a kilogram to orbit cost in 2030 and 2035?
- 383 min · Subscribers
Kick Stages and Orbital Transfer Vehicles
How do satellites get from where a rocket drops them to where they need to be, and is that a business?
- 393 min · Subscribers
Rideshare and the Integrator Business
How does rideshare work, and who organises it?
Ranking - 404 min · Subscribers
Regulation, Licensing and Insurance
How do licensing, environmental review and insurance shape launch?
- 413 min · Subscribers
Launch and the Environment
What does a rising launch rate do to the atmosphere?
- 425 min · Subscribers
Case Studies: Launch Decisions Under Constraint
What do recent launch decisions by OneWeb, the European Union and Amazon show about how customers actually buy launch?
- 433 min · Subscribers
What This Means for Different Readers
How should satellite operators, suppliers, lenders, governments and industrial investors read the launch market?
- 443 min · Subscribers
A Due-Diligence Checklist for Launch Counterparties
What should counterparties check?
- 454 min · Subscribers
Risk Register, Signals and Method
What could go wrong, and what should readers watch?
- 462 min · Subscribers
Appendix A: Vehicle Reference Table
Reference
- 471 min · Subscribers
Appendix B: Glossary
- 484 min · Subscribers
Appendix C: Launch Dataset
Reference
The first 3 chapters of this and every report are open to everyone. Space access opens all 48, with the models and their Excel files.
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Setcoin Atlas · Space & aerospace
The thesis, against the live record
Research and contract activity on public registers, mapped to the bottlenecks this report names.
1,096
awards & contracts on record
1,063
organisations
$9.0bn
awarded (corrected)
171
new in the last 90 days
Awarded value after removing $16.9bn of aircraft and missile awards misfiled under space.
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Free accounts see the evidence ladder, regional split and the most active organisations and projects, anonymised.
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