Small launchers: limits of a high launch rate model and the race to heavy follow-ons

Under financial strain and strong competition from SpaceX Transporter, commercial small launchers are now racing to heavy next-generation launchers they hope will open on larger markets . Indeed, after $9 billion raised in private funding since 2017, commercial small launchers hold a combined backlog of only $400 million in launch contracts and besides Rocket Lab, the next most advanced companies have launched only once or twice.