Commercial Space
Australia’s Gilmour Space Aims for Historic Orbital Launch in May 2024
Queensland-based Gilmour Space prepares to launch Australia’s first domestically developed orbital rocket, Eris, marking a strategic shift in the nation’s space capabilities.
Australia stands on the cusp of a groundbreaking achievement in its space journey. Gilmour Space Technologies, a Queensland-based aerospace startup, is preparing to launch the nation’s first domestically developed orbital rocket, Eris, no earlier than May 15, 2024. This event is not just a technological milestone, it’s a statement of intent from Australia to become a serious player in the global space industry.
Historically, Australia has played a supportive role in space missions, offering ground-based infrastructure and satellite operations. However, the absence of a sovereign orbital launch capability has limited its strategic autonomy. Gilmour Space’s upcoming launch could change that narrative, symbolizing a shift from dependency to leadership in the Asia-Pacific space sector.
With a hybrid propulsion system and a focus on small satellite payloads, the Eris rocket is designed to meet the growing demand for low-cost, flexible launch services. The implications of this launch go beyond national pride, they touch on economic growth, technological innovation, and environmental sustainability in the space domain.
Founded in 2012 by brothers Adam and James Gilmour, Gilmour Space Technologies emerged with a mission to democratize access to space through affordable, hybrid rocket technology. Headquartered in Queensland, the company has grown from a small team of engineers into a national symbol of innovation and ambition.
The Eris rocket, standing at 25 meters tall, is the culmination of over a decade of research and development. It features a three-stage hybrid propulsion system that combines a liquid oxidizer with solid fuel, an approach that balances safety, cost-efficiency, and environmental considerations. With a payload capacity of up to 305 kilograms to low Earth orbit (LEO), Eris is tailored for the booming small satellite market.
Gilmour Space’s journey has been marked by several suborbital test flights since 2016, each iteration bringing the company closer to operational orbital launch capability. The upcoming mid-May launch from the Bowen Orbital Spaceport, also developed by Gilmour, represents the final step in this evolution.
“We’re not just launching a rocket; we’re launching Australia’s space future.” , Adam Gilmour, CEO of Gilmour Space Technologies This launch is more than a technical demonstration, it is a strategic asset for Australia. As the Indo-Pacific region becomes increasingly focused on space capabilities for both economic and security purposes, having a domestic launch provider enhances Australia’s sovereignty and reduces reliance on foreign partners.
The Australian government has recognized this potential. Since the establishment of the Australian Space Agency in 2018, there has been a concerted effort to grow the space sector to AUD 12 billion by 2030. Gilmour Space is a cornerstone of this vision, having secured over AUD 87 million in funding from investors like Blackbird Ventures and Main Sequence Ventures, along with government grants and support from the Queensland Government. Additionally, the Bowen Orbital Spaceport offers strategic advantages due to its proximity to equatorial launch trajectories and emerging markets in Southeast Asia. This positions Australia as a regional hub for space launches, particularly for small satellite operators looking for cost-effective and timely deployment options.
Despite the excitement, the path to launch has not been without obstacles. A planned March launch was delayed due to Tropical Cyclone Alfred, underscoring the unpredictability of natural elements in launch logistics. Moreover, regulatory approvals and technical readiness must align perfectly for the mid-May window to be met.
Gilmour Space has addressed these challenges head-on. The company completed static fire tests of the rocket engines earlier this year and is now in the final stages of payload integration and system checks. Regulatory clearances from the Australian Space Agency have also been streamlined, reflecting the government’s commitment to enabling commercial space activity.
If successful, this mission will validate Gilmour’s hybrid propulsion technology and set a precedent for future launches, including potential missions beyond LEO and into geostationary orbits or lunar support roles.
The global small satellite market is experiencing explosive growth. Valued at USD 3.1 billion in 2022, it is projected to reach USD 7.0 billion by 2027, driven by rising demand for Earth observation, telecommunications, and scientific research. This surge has created a pressing need for affordable and flexible launch services.
Gilmour Space is entering a competitive landscape populated by established players like Rocket Lab and emerging ones across Asia and Europe. However, its unique hybrid propulsion technology and regional positioning offer distinct advantages. Unlike traditional liquid or solid rockets, hybrid systems are not only safer but also potentially more environmentally friendly.
By focusing on small payloads and rapid turnaround times, Gilmour Space aims to carve out a niche in this dynamic market. Its ability to offer dedicated launches, as opposed to ride-share models, provides satellite operators with more control over their missions, a valuable proposition in a crowded industry.
“A successful launch by Gilmour Space would position Australia as a serious contender in the global space economy.” , Dr. Alice Gorman, Flinders University One of the underappreciated aspects of Gilmour’s Eris rocket is its environmental footprint. Traditional rocket fuels often emit toxic byproducts into the atmosphere. In contrast, hybrid rockets like Eris produce fewer harmful emissions, aligning with global efforts to make space exploration more sustainable. This aligns with broader trends in aerospace engineering, where environmental impact is becoming an increasingly important metric. As governments and private entities alike push for carbon neutrality and sustainable innovation, companies like Gilmour Space could find themselves ahead of the curve.
Moreover, hybrid propulsion offers a middle ground between the controllability of liquid engines and the simplicity of solid ones. This makes them ideal for small satellite launches, where cost and safety are paramount. If Eris performs as expected, it could set a new standard for launch vehicles in its class.
Beyond commercial applications, space capability has national security implications. As geopolitical tensions rise in the Indo-Pacific, the ability to independently launch and maintain satellites becomes a strategic asset. Australia’s defense and intelligence communities could benefit from sovereign launch options for surveillance, communications, and navigation systems.
Gilmour Space’s success would thus serve dual purposes: economic and strategic. It would also encourage further investment in space infrastructure, education, and workforce development, creating a virtuous cycle of innovation and capability building.
In the long term, this could lead to Australia playing a more central role in multilateral space initiatives, whether in Earth orbit, lunar missions, or even Mars exploration. The mid-May launch is just the beginning of what could be a transformative era.
The upcoming launch of the Eris rocket by Gilmour Space Technologies represents a pivotal moment for Australia’s space industry. It encapsulates years of innovation, public-private collaboration, and strategic vision. If successful, it will not only mark a technological triumph but also redefine Australia’s role in the global space economy.
Looking ahead, the implications are vast. From bolstering national security and economic growth to setting new standards in sustainable aerospace engineering, Gilmour Space’s mission is a beacon for what’s possible when ambition meets execution. As the countdown begins, the world watches with anticipation.
What is the Eris rocket? When is the launch scheduled? Why is this launch significant? How is the Eris rocket different from others? Where will the launch take place? Sources: Aviation Week, Gilmour Space Technologies, Australian Space Agency, ABC News Australia, MarketsandMarkets, Australian Government
Australia’s First Orbital Rocket: Gilmour Space Targets Historic Mid-May Launch
Gilmour Space and the Rise of Australia’s Space Industry
From Startup to Space Pioneer
Strategic and Economic Significance
Challenges and Readiness
Global Context and Technological Innovation
Competing in the Global Small Satellite Market
Environmental and Technological Considerations
National Security and Regional Influence
Conclusion
FAQ
Eris is a three-stage hybrid rocket developed by Gilmour Space Technologies, designed to carry small satellite payloads (up to 305 kg) into low Earth orbit.
The launch is targeted for no earlier than May 15, 2024, pending final regulatory and technical readiness.
It will be the first time an Australian-designed and built rocket attempts to reach orbit, marking a major milestone in the nation’s space capabilities.
It uses hybrid propulsion, which combines the safety and cost benefits of solid and liquid fuels, and has a lower environmental impact.
The rocket will launch from the Bowen Orbital Spaceport in Queensland, Australia, which was developed by Gilmour Space.
Photo Credit: PSNews
Commercial Space
Singapore Airshow 2026 Launches Space Summit and New Features
Singapore Airshow 2026 expands with inaugural Space Summit, sustainability focus, and advanced defense technologies from Feb 3-8.
The Singapore Airshow will return to the Changi Exhibition Centre from February 3 to 8, 2026, marking its 10th edition with a significant expansion into the commercial space sector. According to an official press release from the organizers, Experia Events, the biennial event will celebrate its 20th anniversary under the theme “New Frontiers in Aviation and Space.”
As one of the most influential aerospace and defense exhibitions in the Asia-Pacific region, the 2026 edition aims to bring together over 1,000 participating companies from more than 50 countries. The event will feature a strategic evolution from traditional aviation to include the rapidly growing space economy, alongside a continued focus on sustainability and advanced defense technologies.
For the first time, the Airshow will host the Space Summit 2026, a dedicated event running from February 2 to 3 at the Sands Expo and Convention Centre. This summit is designed to position Singapore as a central hub for space dialogue in the region, covering topics such as space infrastructure, investment, and the “in-space economy.”
Organizers highlighted the economic potential of this sector, citing McKinsey projections that the global space economy could reach $1.8 trillion by 2035. The summit is organized in partnership with the Office for Space Technology & Industry (OSTIn) and will feature leaders from global space agencies and commercial enterprises.
“Space technologies are becoming increasingly integral to our economy… The Space Summit@Singapore Airshow in 2026 provides a timely platform to spotlight Singapore’s capabilities in innovation and foster global partnerships across the space value chain.”
, Mr. Jonathan Hung, Executive Director, Office for Space Technology & Industry (OSTIn)
While expanding into space, the Airshow maintains its core focus on decarbonization and defense. The 2026 edition will spotlight Sustainable Aviation Fuel (SAF) and net-zero initiatives, with Neste returning as the Sustainable Aviation Partner to address supply chain adoption.
In the defense sector, the exhibition will showcase “next-generation” technologies, specifically highlighting companies specializing in artificial intelligence and autonomy, such as Helsing, Quantum, and Shield AI. The event will also feature expanded zones for digital aviation and Advanced Air Mobility (AAM), reflecting the region’s growing interest in electric vertical take-off and landing (eVTOL) aircraft.
The decision to formally integrate a Space Summit into the Singapore Airshow reflects a broader industry trend where the lines between traditional aerospace and the commercial space sector are blurring. By anchoring the event with a dedicated space summit, Singapore is likely attempting to replicate its success as an aviation hub in the nascent “New Space” market. This move allows the Airshow to remain relevant as defense budgets increasingly allocate funds to satellite infrastructure and space-based assets, ensuring the event appeals to a wider array of investors and policymakers beyond conventional aircraft manufacturers. The 2026 event marks two decades since the Airshow’s inception in 2008. The organizers report that the previous edition in 2024 signaled a full recovery from the pandemic, attracting approximately 60,000 trade attendees and generating a record S$391 million in economic impact. Experia Events expects the 10th edition to match or exceed these figures, driven by the Asia-Pacific region’s demand for new aircraft.
“Reaching our 10th edition is a significant milestone for Singapore Airshow. Over the past two decades, the Airshow has evolved alongside the industry… In 2026, we are proud to expand our horizons further with new features and partnerships that reflect the industry’s transformation.”
, Mr. Leck Chet Lam, Managing Director of Experia Events
Singapore Airshow 2026 to Launch “New Frontiers” with Inaugural Space Summit
Expanding into the Space Economy
Sustainability and Advanced Defense
AirPro News Analysis
A Milestone Year for the Industry
Frequently Asked Questions
Sources
Photo Credit: Secretary of the Air Force International Affairs
Commercial Space
SpaceX Plans $1.5 Trillion IPO with $30 Billion Raise in 2026
SpaceX aims for a $1.5 trillion valuation IPO in 2026, raising over $30 billion by listing Starlink and launch units as one entity.
This article summarizes reporting by Reuters and Bloomberg News.
SpaceX is reportedly preparing for a historic initial public offering (IPO) as early as mid-to-late 2026, targeting a valuation of approximately $1.5 trillion. According to reporting by Bloomberg News, summarized by Reuters, the aerospace giant aims to raise over $30 billion in the listing. If successful, this move would surpass Saudi Aramco’s 2019 record to become the largest IPO in history.
The reported strategy marks a significant shift from previous speculation, which focused largely on spinning off the Starlink satellite internet unit as a separate public entity. Instead, reports indicate a “whole-company” approach designed to leverage Starlink’s revenue to fund the capital-intensive development of the Starship rocket and Elon Musk’s long-term Mars colonization goals.
According to the reporting, the targeted $1.5 trillion valuation would place SpaceX in the upper echelon of global companies, rivaling tech giants like Amazon, Alphabet, and NVIDIA. The projected capital raise of more than $30 billion would provide the company with a massive war chest to accelerate its dual focus on global connectivity and interplanetary transport.
Market analysis suggests that Starlink is the primary engine driving this valuation. Reports indicate that Starlink is projected to generate approximately $12 billion in revenue in 2025 alone, surpassing the company’s traditional launch business. By 2026, total company revenue is projected to reach between $22 billion and $24 billion.
Industry observers note that keeping the company consolidated offers distinct advantages. By listing the entire entity, SpaceX can utilize the strong cash flow from Starlink, which now boasts over 5 million active users, to subsidize the Starship program without the complexities of inter-company transfer pricing that a spin-off would require.
It is crucial to distinguish between recent reports of a capital raise and the long-term IPO plan. On December 7, 2025, Elon Musk addressed rumors regarding a secondary market valuation of $800 billion.
“Not accurate.”, Elon Musk, via X (formerly Twitter), regarding reports of an immediate capital raise at an $800 billion valuation.
Musk emphasized that SpaceX is cash-flow positive and currently conducts stock buybacks to provide liquidity to employees, rather than seeking new external funding. However, the Bloomberg report regarding the 2026 IPO emerged after these comments. Analysts suggest that while SpaceX may not need cash today, a 2026 IPO represents a future liquidity event and a strategic capital injection for the expensive Mars infrastructure required in the late 2020s. As SpaceX approaches a potential public listing, it faces intensifying competition and regulatory scrutiny. The company’s “Direct-to-Cell” ambitions for Starlink are currently under review by the FCC regarding potential interference with terrestrial networks. Simultaneously, Amazon’s Project Kuiper is expected to launch commercial services in 2026, backed by deep integration with Amazon Web Services (AWS).
Furthermore, the company’s defense arm, Starshield, has secured significant government Contracts, including a reported $1.8 billion agreement with the National Reconnaissance Office (NRO). This dual role as a civilian utility and a defense contractor adds a layer of geopolitical complexity to the company’s public profile.
The “Mars Bank Account” Strategy
We view the shift toward a whole-company IPO as a definitive signal that Elon Musk intends to lock in the funding required for Mars colonization before the decade is out. While a Starlink spin-off would have unlocked immediate shareholder value, it would have left the Starship program, a massive capital sink, financially isolated. By keeping the entities together, Musk creates a conglomerate where the profitable utility (Starlink) eternally funds the exploratory ambition (Starship).
Investors in a 2026 IPO will essentially be buying into a “sovereign state” starter kit: a global telecom monopoly, a heavy logistics monopoly, and a defense prime, all wrapped in a single ticker symbol. The challenge for the board will be managing the volatility of a public stock while pursuing multi-decade goals that often defy quarterly earnings logic.
When is the SpaceX IPO expected? Will Starlink be a separate stock? How much is SpaceX worth?
SpaceX Reportedly Targets Record-Breaking $1.5 Trillion IPO for 2026
Financial Projections and Valuation
Strategic Rationale
Musk’s Denial and Market Context
Competitive and Regulatory Landscape
AirPro News Analysis
Frequently Asked Questions
Current reporting suggests mid-to-late 2026, though slippage into 2027 is possible depending on market conditions.
While previously rumored, current reports indicate SpaceX will list as a single consolidated entity, keeping Starlink and the launch business together.
The company is targeting a valuation of approximately $1.5 trillion for the IPO. Recent private market discussions have fluctuated, with some reports citing figures around $800 billion, though these specific figures were disputed by Musk.Sources
Photo Credit: SpaceX
Commercial Space
SpaceX Starbase Drives 13 Billion Economic Impact in South Texas
SpaceX’s Starbase in South Texas generates a $13 billion economic output and supports 24,000 jobs, boosting local supply chains and infrastructure.
The economic landscape of South Texas, particularly within Cameron County and the Rio Grande Valley, has undergone a significant shift in recent years. Once primarily defined by agriculture, tourism, and cross-border trade, the region has rapidly evolved into a focal point for the global aerospace industry. We are observing a transition driven largely by the expansion of operations at Starbase, the launch facility developed by SpaceX at Boca Chica. New data released by county officials indicates that this development is no longer a speculative project but a dominant economic engine for the area.
According to a report released in October 2025 by Cameron County, the cumulative economic influence of this aerospace activity is projected to reach substantial heights over the 2024–2026 period. The data suggests a gross economic output of $13 billion, a figure that encompasses the total economic activity generated by the company’s presence, including supply chain operations and consumer spending. This projection marks a notable acceleration from previous years, coinciding with increased launch frequencies and the relocation of corporate headquarters to the state.
The significance of these figures extends beyond corporate revenue. The report highlights a direct correlation between the aerospace activities and regional employment stability. With thousands of jobs now tied to the sector, the Rio Grande Valley is experiencing a diversification of its labor market. We see this as a critical development for a region that has historically sought to broaden its industrial base. The influx of capital and the demand for skilled labor are reshaping the local economy, creating a ripple effect that touches various sectors from construction to hospitality.
To understand the magnitude of the reported $13 billion gross economic output, it is essential to break down the specific metrics provided in the county’s report. This figure represents the total value of sales and revenue generated across the entire supply chain, rather than just the value-added Gross Domestic Product (GDP). For context, the annual GDP of Cameron County typically ranges between $10 billion and $15 billion. Consequently, the projected output from Starbase indicates that the facility has become a primary pillar of the regional economy, driving a double-digit percentage of the county’s overall economic activity.
Employment statistics offer a granular view of this impact. The data reveals that the facility supported a total of 24,000 jobs in 2024 and 2025. This total is composed of both direct employees and indirect roles supported by the ecosystem. Specifically, the number of direct full-time employees and contractors at Starbase rose to 4,300, a 26% increase from the approximately 3,400 reported in the previous year. These roles often command higher wages compared to the regional median, contributing to increased purchasing power within the local community.
The indirect employment figures are equally telling, with approximately 20,000 jobs supported across the region. These roles span a wide array of industries, including logistics, manufacturing support, and service sectors. The report also notes that this economic activity generated $305 million in indirect tax revenue for local and state governments. This revenue stream is vital for public services and infrastructure maintenance, suggesting that the private investment is translating into tangible public fiscal benefits.
“Their commitment to our region has transformed our local economy, from high-skill job creation to critical infrastructure improvements. While Starbase operates close to the coast, every city in Cameron County and the Rio Grande Valley shares in the benefits.”, Judge Eddie Treviño Jr., Cameron County Judge.
A critical component of the economic surge is the rapid expansion of the local supply chain. We have noted a sharp increase in the number of local businesses engaging directly with the aerospace sector. The report indicates that spending with local suppliers in the Rio Grande Valley grew to $147 million, up from $90 million in the previous assessment. The network of local suppliers has expanded from 80 to over 350 entities. This 337% increase in local vendor participation demonstrates that the economic benefits are permeating the small business community rather than remaining isolated within the launch facility.
Infrastructure development has paralleled this commercial growth. To date, over $3 billion has been invested in infrastructure at the Starbase site. This capital injection has necessitated upgrades to public utilities and road networks, accelerating modernization efforts in the surrounding areas. The physical transformation of the landscape is evident, with new facilities and improved logistics networks designed to support heavy industry. These improvements, while driven by corporate needs, often leave a lasting legacy of enhanced capacity for the county. Tourism also plays a distinct role in this economic equation. The spectacle of orbital launches has created a unique tourism niche for South Texas. Estimates suggest an annual economic impact of $99 million from tourism alone, with single launch events drawing upwards of 20,000 visitors. This influx provides a periodic but significant boost to local hotels, restaurants, and retail establishments, helping to smooth out seasonal fluctuations in the traditional tourism cycle.
While the economic indicators are largely positive, the rapid pace of development brings specific challenges that the region must navigate. The influx of high-wage engineers and technicians has increased demand for housing, impacting property values. While rising property values can benefit homeowners, they raise concerns regarding affordability for long-time residents. The median household income in Cameron County has historically been around $51,000, significantly lower than the salaries commanded in the aerospace sector. We must acknowledge that balancing this growth with affordability remains a complex issue for local planners.
Despite these challenges, the broader trajectory points toward sustained industrial growth. The Brownsville-Harlingen Metropolitan Statistical Area was recently ranked the number one “Leading Metro Location” for 2024 by Area Development magazine, a recognition explicitly attributed to the “SpaceX effect.” Furthermore, with the Federal Aviation Administration (FAA) approving up to 25 annual launches, the activity at Starbase appears to be shifting from a construction-heavy phase to a steady operational rhythm. This suggests that the economic figures reported are likely a new baseline rather than a temporary spike.
The decision to move the corporate headquarters from Hawthorne, California, to Starbase in July 2024 further solidifies this outlook. This move signals a long-term commitment to Texas, likely leading to further consolidation of executive and administrative functions in the region. As the “space economy” cements itself as a permanent industrial sector for Texas, the interplay between corporate expansion and regional development will continue to define the economic narrative of the Rio Grande Valley.
The data released by Cameron County regarding the 2024–2026 period illustrates a profound economic restructuring of South Texas. With a projected gross economic output of $13 billion and support for 24,000 jobs, the aerospace sector has established itself as a cornerstone of the regional economy. The growth in local supply chain participation and the substantial tax revenue generated indicate that the impact is structural and widespread, reaching far beyond the immediate vicinity of the launch site.
Looking ahead, the region is poised to maintain its status as a key hub for the global aerospace industry. As launch cadences increase and infrastructure investments mature, the focus will likely shift toward managing the secondary effects of this growth, such as housing and urban planning. The transformation of the Rio Grande Valley serves as a case study in how high-tech industrial anchors can reshape local economies, offering both substantial opportunities and new challenges for the future.
Question: What is the total economic impact of SpaceX on South Texas? Question: How many jobs has the company supported in the region? Question: How has the local supply chain been affected?
The Economic Transformation of South Texas
Analyzing the $13 Billion Impact and Job Creation
Supply Chain Expansion and Infrastructure Investment
Regional Challenges and Future Outlook
Concluding Section
FAQ
Answer: According to a report released by Cameron County in October 2025, the projected gross economic output for the 2024–2026 period is $13 billion.
Answer: The data indicates that a total of 24,000 direct and indirect jobs were supported in 2024 and 2025. This includes approximately 4,300 direct employees at Starbase and 20,000 indirect jobs in the wider region.
Answer: The report highlights that spending with local suppliers in the Rio Grande Valley increased to $147 million, with the number of local suppliers growing from 80 to over 350.
Sources
Photo Credit: RGV Aerial Photography
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