The National Aerospace Initiative (NAI) was conceived as a joint effort between the Department of Defense (DOD) and the National Aeronautics and Space Administration (NASA) to sustain the aerospace leadership of the United States through the acceleration of selected aerospace technologies: hypersonic flight, access to space, and space technologies. The Air Force became concerned about the NAI's possible consequences on Air Force programs and budget if NAI program decisions differed from Air Force priorities. To examine this issue, it asked the NRC for an independent review of the NAI. This report presents the results of that assessment. It focuses on three questions asked by the Air Force: is NAI technically feasible in the time frame laid out; is it financially feasible over that period; and is it operationally relevant.

Since the advent of the space age, a primary constraint on military, commercial, and civil space missions has been the cost of launch. Launching objects into space requires substantial investments in launch systems and infrastructure, which has restricted the market to only a handful of national governments and several large private companies. This study explores the possibility of a space industry significantly less constrained by the cost of access to space.

The book provides an analysis of the dynamics of the global launch service market associated with small satellites, by placing a particular focus on its unfolding trends and future outlook. From an economic perspective, the emergence of numerous micro launcher initiatives on top of already existing launch solutions for small satellites raises questions about the specific nature and size of the small satellite market that will - or could - be addressed by these emerging launch services offerings. Identifying the specific features of such market by characterizing customers' expectations and providing a competitive analysis of the different launch solutions for small satellites is the second objective of this report. Finally, and from a policy perspective, the book reflects on whether such market could and should be handled on a purely private basis in the European context, or on the contrary generates relevant stakes that compels European institutional actors to become more actively involved in this domain.