As China and the US vie for the moon, private companies are locked in their own space race

As space becomes more crowded, more commercial and more consequential, the world has entered a new space race — and it bears little resemblance to the last one, industry leaders say. Unlike the Cold War-era contest between the Soviet Union and the United States, which was driven by governments seeking to demonstrate technological superiority, today’s race is increasingly powered by private companies and commercial competition. Falling launch costs, fueled largely by reusable rockets, have transformed access to low Earth orbit (LEO), turning it into a fast-evolving marketplace where companies compete and innovate at rapid speed. That shift carries far-reaching implications…