An inside look at one company driving the new space economy

NASA has been a leader of space exploration for decades, being the only organization to put humans on the moon. As part of their Artemis missions, for the first time in over 50 years, NASA hopes to repeat that feat and put a human on the moon in 2026. One of the biggest differences this time: the private sector is helping them do it. In addition to major companies, like Boeing (BA) and Lockheed Martin (LMT), one of the businesses assisting in NASA’s mission is SpaceX. The private company, co-founded by Elon Musk, introduced a new commercial era of space exploration. In 2023 SpaceX executed 96 successful missions, launching a rocket on average every four days. There are many companies following SpaceX’s lead. Yahoo Finance got an inside look at one of those businesses: Firefly Aerospace. Firefly is also playing a role in NASA’s mission as part of the $2.6 billion Commercial Lunar Payload Services initiative, aimed at developing reliable transportation options to the moon for supplies and research. Later this year, Firefly will be the third American company to attempt an unmanned lunar landing with their Blue Ghost spacecraft. That mission is backed by a $112 million contract from NASA. While Firefly plans to continue its work with NASA, the company is expecting the commercial side of space to become a larger part of its business, with the industry expected to grow to $1.8 trillion by 2035, according to the World Economic Forum. In an effort to capitalize on this, and maximize speed and cost efficiency, Firefly’s mission is to become an end-to-end space transportation company. The company is manufacturing rockets, including an upcoming medium launch vehicle in partnership with Northrop Grumman (NOC), orbital vehicles to service spacecraft on their missions, and landers, like Blue Ghost. If you’re going to future-proof your portfolio, you need to know what’s NEXT. In this series, Yahoo Finance will feature stories that give a glimpse at the future, and show how companies are making big moves today that will matter tomorrow. For more on our NEXT series, click here, and tune in to Yahoo Finance Live for more expert insight and the latest market action, Monday through Friday. Editor's note: This article was written by Luke Brooks.