From Earth to Orbit: Florida Setting the Standard for Aerospace Commerce in 2024 and the Future

EXPLORATION PARK, Fla. — December 19, 2024 — Space Florida, the state’s aerospace finance and development authority, closes 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. 
 
“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."  
 

Space Florida 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. 

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. 

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2024 Project and Policy Milestones 

• CAE USA: In 2024, the company opened its new 360,000 square facility which houses flight training and simulation, manufacturing to support product development, and also serves as headquarters to U.S. Division of CAE Defense & Security (CAE USA). 

• Amazon’s Project Kuiper: The $120 million satellite processing facility at the Launch and Landing Facility (LLF) is nearing completion, with operations set to begin in early 2025 after an additional $20 million expansion.  
• Making Spaceport Bonds Tax Exempt: Making spaceport facility private activity bonds tax-exempt aligns with financing methods used by airports and seaports. The bipartisan measure was introduced by Sen. Marco Rubio and Sen. Ben Ray Luján (New Mexico) and Rep. Neal Dunn and Rep. Salud Carbajal (California) on February 28, 2024.
• Spaceport Territories: On July 1, Tyndall Air Force Base and Homestead Air Reserve Base were officially designated as Florida spaceport territories bringing the total to 9 territories in the state, demonstrating the state’s commitment to expanding aerospace capabilities. 

• Airbus U.S. Space and Defense: After opening its satellite manufacturing facility in 2019 at Exploration Park, Airbus U.S. Space and Defense has since grown its footprint on the Space Coast with a factory expansion set to open in 2025. 

• Brown Center for Aerospace Technology: Boeing and Embry-Riddle Aeronautical University (ERAU) announced plans to open a state-of-the-art engineering facility in Daytona Beach.  

• Leonardo Helicopters Support Center: Space Florida partner Leonardo Helicopters celebrated a major milestone with a topping-off ceremony at the future site of its Florida Support Center in Santa Rosa County, Florida. The 113,000-square-foot facility, representing an investment of over $65 million, is on track to open by the end of 2024. 

• Wharf Study: Space Florida announced the completion of the feasibility phase of the Florida Spaceport System Maritime Intermodal Transportation Study, an essential step in enhancing maritime support for the commercial space industry. 

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2024 Space Florida Launch and Landing Facility Operational Milestones 

Through strategic management and harnessing its unmatched financial tools, Space Florida has successfully turned around non-performing or underutilized assets, such as the Launch and Landing Facility, transforming them into thriving hubs of activity. By repurposing facilities such as the LLF, streamlining operations, and aligning assets with industry demand, Space Florida is demonstrating how revitalization can drive sustainable growth and position Florida as the global epicenter of aerospace commerce. 

• This year, the LLF hosted over 358 landing and departures supporting commercial and government missions and enabled more than 3,364 total flight operations. This included support for NASA’s Crew 8 and 9, Axiom 3, Polaris Dawn, SpaceX’s CRS-30 and 31, and Sierra Space’s Axelerator program.  

• The LLF supported 218 ground tests and partnered with Sierra Space, NASA, SpaceX, U.S. Air Force, Tesla, Volvo, Florida Highway Patrol, Embraer, and more. 

• The LLF welcomed the following spacecrafts: Bandwagon-1, Galileo, Turksat, Maxar-2, Europa Clipper, Hera, and GSAT-20. 

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2024 Innovation & Investment Milestones 

• Space Florida-Israel Innovation Partnership: Over the past 11 years, the program has awarded $22 million to binational aerospace projects, with the 12th cycle commencing at the end of 2024 with awards to be made in mid-2025. 

• Capital Accelerator Events: Space Florida partnered with the Florida Venture Forum and other organizations to invest $300,000 in emerging aerospace startups, driving a cumulative $800 million in follow-on funding and mergers and acquisitions activity over the last decade. Additionally, Space Florida hosted the inaugural The Take Off: Northwest Florida Pitch Day showcasing IHMC’s researchers and early-stage companies in the region focused on aerospace and adjacent technology segments, with $50,000 awarded. 

• Space Training and Readiness Command (STARCOM): Florida was officially confirmed as the headquarters for STARCOM, further cementing the state’s role as a hub for military and private aerospace operations. 

• Florida University Space Research Consortium: Space Florida’s Board of Directors designated the Florida University Space Research Consortium, as the state’s official space research entity. The partnership includes the University of Florida, the University of Central Florida, and Embry-Riddle Aeronautical University. 

• Space Florida Academy Program: Space Florida launched partnerships with 23 school districts across Florida to begin implementation of the Space Florida Academy Program within those districts, with the goal of connecting students with high-demand credentials and skills necessary to work in the aerospace industry. 

• Space Florida Brand: This year, Space Florida unveiled its new corporate identity – featuring a refreshed logo, branding, and website aimed at enhancing Florida’s leadership in the aerospace industry.  

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Looking Ahead to 2025 

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. 

For more information about Space Florida’s ongoing projects and initiatives, visit spaceflorida.gov.

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Media Contact 
Alayna Curry, APR 
acurry@spaceflorida.gov

About Space Florida 
Space Florida is where leading aerospace companies get everything they need to see their new ideas take off. As the state’s independent aerospace finance and development authority, Space Florida brings a mix of unrivaled experience, unmatched financial tools, and unbeatable location to the table by providing critical business financing opportunities for the aerospace industry, managing infrastructure investment in the state’s spaceport system, and facilitating research and development, workforce, education, and investment programs.  

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