The increasing demand for satellite communication, earth observation, and space tourism is paving the way for the global space industry to surpass $500B in revenue by 2025 and this is mainly driven by the private sector. The main catalyst behind this increase in revenue is commercial space products and services, with commercial infrastructure and support industries closely trailing behind. SpaceX's Starlink constellation exemplifies this trend, revolutionizing internet access through an expanding network of satellites. Moreover, the US government's investment in space endeavors far exceeds the space budgets of non-US governments, highlighting the US as the leading participant in the global space economy.