Week in Space Data, every Friday.
Two different approaches to commercial space infrastructure. Sierra Space, created by Sierra Nevada Corporation in 2021, is building the Dream Chaser spaceplane and LIFE inflatable habitats. Axiom Space has flown four private astronaut missions to the ISS and plans station modules that attach to the ISS before separating as an independent station.
| Metric | Sierra Space | Axiom Space |
|---|---|---|
| Founded | April 2021, created by Sierra Nevada Corporation | 2016, by Kam Ghaffarian and Michael Suffredini |
| CEO | Dan Jablonsky (since Mar 2, 2026); Fatih Ozmen is board chair | Jonathan Cirtain (since Oct 15, 2025); Kam Ghaffarian is executive chairman |
| Headquarters | Louisville, CO | Houston, TX |
| Public / Private | Private | Private |
| Valuation | ~$8.0B (latest valuation on record) | See company profile |
| Private funding on record | $2.3B raised privately | $480M raised privately |
| Crew / Cargo Vehicle | Dream Chaser spaceplane (runway landing) | Flies its crews on SpaceX Crew Dragon |
| Dream Chaser Status | Not yet flown. NASA cargo contract modified Sept 2025: debut is a free-flight demonstration, no earlier than late 2026, not docking to the ISS | N/A |
| Station Program | Orbital Reef, with Blue Origin | Axiom Station: modules attach to the ISS first, then separate as a free-flying station |
| Habitat Technology | LIFE inflatable habitat; LIFE 285 module holds 285 m3 | Rigid modules built by Thales Alenia Space in Turin, Italy |
| First Station Hardware | No Orbital Reef launch date published | Payload Power Thermal Module (PPTM) to attach to the ISS first (Axiom plan, Dec 2024) |
| NASA Station Funding | Orbital Reef CLD Phase 1 agreement held by Blue Origin: $172M ($130M in Dec 2021, plus $42M in Jan 2024) | Not a CLD Phase 1 awardee; NASA contract (Feb 2020) to attach a commercial module to the ISS, up to $140M |
| Other NASA Work | Cargo Resupply Services (Dream Chaser) | Private astronaut missions to the ISS; AxEMU moonwalking spacesuit task order (Sept 2022, $228.5M base value) |
| Private Astronaut Missions | None (no crewed vehicle has flown) | Ax-1 (2022), Ax-2 (2023), Ax-3 (2024), Ax-4 (June to July 2025); Ax-5 targeted no earlier than January 2027 (Axiom) |
Figures as of Sep 4, 2026 (auto-updated daily from company profiles). Information only, not investment advice. Full disclaimer
Sierra Space describes Dream Chaser as the only commercial reusable, runway-capable spaceplane. It was contracted to carry NASA cargo to the ISS, but in September 2025 NASA and Sierra Space modified that contract: NASA is no longer obligated to buy a set number of resupply missions, and the debut became a free-flight demonstration that will not dock with the station, no earlier than late 2026. In September 2026 Sierra Space said it had signed national security and commercial customers to fly payloads on that inaugural mission, which will launch from Kennedy Space Center and land on a runway at Vandenberg Space Force Base.
Axiom Space has flown four private astronaut missions to the ISS on SpaceX Crew Dragon: Ax-1 (April 2022), Ax-2 (May 2023), Ax-3 (January 2024) and Ax-4 (June to July 2025). NASA has ordered Ax-5, targeted no earlier than January 2027. In September 2022 NASA also selected Axiom for its first Artemis moonwalking spacesuit task order, with a base value of $228.5 million.
Sierra Space's LIFE (Large Integrated Flexible Environment) habitat launches folded on a conventional rocket and inflates in orbit. Its first product, LIFE 285, holds 285 m3; Sierra Space reports a full-scale ultimate burst pressure test in December 2023 that reached 77 psi. LIFE is part of the Orbital Reef station planned with Blue Origin, whose NASA CLD Phase 1 agreement stands at $172 million.
Axiom Space uses rigid modules built by Thales Alenia Space in Turin, Italy. In December 2024 Axiom changed its assembly order so that the Payload Power Thermal Module (PPTM) goes first: it will connect to the ISS, and the Axiom segment will later operate as a free-flying station. Axiom's NASA agreement for this dates from February 2020, a contract worth up to $140 million, separate from NASA's CLD program.
Sierra Space raised a $290 million Series B in September 2023, bringing its total capital raised to $1.7 billion, and in March 2026 raised $550 million in a Series C led by LuminArx Capital Management at an $8 billion valuation. Axiom Space has $480M in private rounds on record. Both companies will need further capital to complete their station programs.
Track commercial space stations and companies on SpaceNexus