A worse-than-expected lack of launch capacity has blindsided an industry that had come to rely on growing access to space, not least the Falcon 9 launches and rideshares SpaceX is moving away from as it shifts focus to Starship.

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Jason Rainbow writes about satellite telecom, finance and commercial markets for SpaceNews. He has spent more than a decade covering the global space industry as a business journalist. Previously, he was Group Editor-in-Chief for Finance Information Group,...