Space Florida Caps 2024 with 187-Project Pipeline
State Tallied Up a Record-Breaking 90 Launches Last Year
Space Florida, the state’s aerospace finance and development authority, closed out 2024 with a 187-project pipeline valued at $6.8 billion — an approximate 24% increase from the year before — underscoring its leadership in the global aerospace economy. Leveraging its unique structure and unmatched financial tools, Space Florida continues to set the standard for aerospace commerce. Florida’s aerospace dominance is evident in its record-breaking 90 launches in 2024, transporting over 1,300 payloads totaling 2.6 million pounds, leading America in the global integrated space-earth economy.
“This past year highlights Florida’s commitment to driving the industry forward and finding creative ways to address key infrastructure challenges that must be addressed if we want to keep pace with industry growth."
Rob Long, Space Florida
Looking to the future, the authority estimates the state must prepare to support transporting 5,000 metric tons of cargo annually to space by 2035. This scale equates to 219 Falcon 9 launches, 40 Starship launches, 194 ULA Vulcan launches, or 111 New Glenn launches — a testament to the immense growth trajectory of the industry. Which is why this past year, Space Florida along with the U.S. Chamber of Commerce advocated to make spaceport facility bonds tax-exempt — in line with most airports and seaports — to adequately leverage the power of financial markets to accelerate space infrastructure development and signal to investors that space infrastructure is a viable investment that changes the way we approach the space economy.
“Florida stands alone as the only state to designate space as an official mode of transportation, and its strategic infrastructure investment of nearly $565 million has driven an expected $4 billion in private capital — a threefold growth in just five years,” said Rob Long, president and CEO, Space Florida. “This past year highlights Florida’s commitment to driving the industry forward and finding creative ways to address key infrastructure challenges that must be addressed if we want to keep pace with industry growth."
As such, in the coming year, Space Florida will aggressively pursue opportunities to increase private capital in the aerospace industry — through targeted policy changes and creative partnerships — while addressing the pressing need for investments in space transportation infrastructure. This includes enhancing wastewater processing, environmental mitigation, maritime expansion (wharf space), intra-complex transportation, power, and natural gas capabilities — critical areas where the lack of integrated planning, prioritization, and sufficient funding has strained the spaceport's ability to meet growing demands. Nearly $3 billion in investments in coming years will be required to fully realize these enhancements and unlock its full potential.
In 2025, Space Florida remains focused on crafting a sustainable business model that maximizes investment and operational efficiency while addressing critical infrastructure challenges. Looking to the future, Space Florida is well positioned to lead with bold infrastructure investments and strategic capital initiatives across emerging and critical sectors.
Advanced air mobility and aircrew training will shape the next generation of aerospace innovation, while space infrastructure and multimodal transportation facilities investments will enhance connectivity and operational efficiency. Space Florida is driving advancements in in-space manufacturing, logistics and servicing hubs, and return and testing capabilities to ensure the state remains at the forefront of space exploration and commercialization. Together, these efforts will create a robust ecosystem that accelerates industry growth, attracts investment, and positions Florida as a global hub for aerospace and space commerce.