Startup Trends: 4 fast-innovating companies in the aerospace sector

Several private companies are developing technologies that advance space exploration and benefit human life on Earth and possibly beyond. Investors are paying attention, and a handful of private companies may be in a position to bring visionary aerospace concepts to life that may benefit humanity as a whole.

From a planned mission to Mars to researching potential zero-gravity human habitats, these are four firms listed on Forge Global that are innovating quickly in different ways.

SpaceX, an aerospace technology company

SpaceX is an aerospace technology company that offers space flight services to commercial clients, governments, and private enterprises. SpaceX’s services include the development and launch of reusable rockets, satellites and spacecraft, such as the Falcon 9 and Dragon capsule.¹

Founded by Elon Musk in 2002 and headquartered in Hawthorne, CA, the private company’s mission is to reduce the cost of space exploration, with long-term goals of enabling interplanetary travel and establishing human presence on Mars.

SpaceX has been making multiple test flights into space this year with varying results.² It is reported that successful tests could lead to human landings on Mars as soon as 2029. Musk has previously stated his hopes that SpaceX could land the first humanoid robot on the red planet by the end of next year.³

The aerospace company's Forge Price™ is $206.68 as of May 29, 2025, implying a valuation of $391.02 billion. Its investors include Founders Fund, Rothenberg Ventures and Musket Research Associates.

Relativity Space, a commercial rocket company

Relativity Space is impacting the aerospace industry with 3D printing and manufacturing technology. This approach simplifies the rocket production process and reduces environmental impact, cost and production timelines. As a result, the company positions itself as an enabler of sustainable space operations that could accelerate humanity’s capability to explore and use space responsibly.

Specifically, Relativity Space addresses the large number of satellites launched into space each year by creating more sustainable ways to put them into orbit.⁴ The company expects to test-launch its second 3D printed reusable rocket in 2026, and its goal is to eventually achieve 50 to 100 flights annually while achieving full reusability of its launch vehicles.⁵

Founded in 2015, Relativity Space’s Forge Price™ is $15.31 and implies a $3.96 billion valuation as of May 29, 2025. Investors include venture capital firms General Catalyst, BlackRock, Tiger Global Management and 8VC.

Axiom Space, space infrastructure developer

Axiom Space, a startup based in Houston, Texas, is a noteworthy company in the commercial aerospace industry. Its technologies aim to enable long-term human habitability in space. The company’s commercial space station is designed to facilitate sustainable and healthy living for long-duration missions and private astronaut expeditions.

While human habitability in space may seem far-fetched, a key driver for zero-gravity living is the potential for specialized scientific research that can be conducted in the unique conditions of space. Axiom Space announced in April 2025 that its Ax-4 mission includes 60 scientific studies that represent 31 countries and illustrate the increased capabilities of scientific research in microgravity.⁶

Founded in 2016, Axiom Space’s Forge Price™ is $150.00 and implies a $2.01 billion valuation as of May 29, 2025. Investors include venture capital firms Starbridge Venture Capital, Alumni Ventures, Sand Hill Angels and Aljazira Capital.

Firefly Aerospace, a space research and exploration company

Firefly Aerospace is an aerospace company that offers end-to-end space transportation services to commercial and government clients. Their services include small and medium launch vehicles, lunar landers and in-space vehicles designed to provide reliable and affordable access to space.

Founded in 2017 and headquartered in Cedar Park, Texas, Firefly aims to enable missions from low Earth orbit to the Moon by developing innovative and cost-effective space solutions.

Last month, the company received a $50 million investment from U.S. defense contractor Northrop Grumman as part of a joint rocket development partnership. The two firms plan to launch their “Eclipse” vehicle to support resupplying space stations, optimizing defense systems and security, and enabling other scientific research initiatives for the two firms. The aim is to launch the new vehicle in 2026.⁷

Firefly’s Forge price per share was $5.58 as of its last funding round in March of 2025, giving the firm a post-money valuation of $2.94 billion. The startup’s investors include 500 Global, SK Ventures, Noosphere Ventures and Tribeca Early Stage Partners.