US space-related priorities and budget analysis: implications for defence companies

Across both the US FY2026 budget and the 2025 'One Big Beautiful Bill Act', space is positioned as an enabling domain for homeland defence and overseas deterrence, redirecting research, development, testing and evaluation (RDT&E), procurement, and operations and maintenance (O&M) spending. This report discusses budgetary allocations, provides insight into shifting government priorities and highlights the technologies that will benefit from the highest investments as a result. 

This report provides:

• insight into the allocation of US defence space funding across RDT&E, procurement and O&M
• analysis of how US defence objectives translate into technological opportunities
• an overview of the technology, production scale and lifecycle capability of FY2026 space-related defence spending.