The space tech industry is wrapping up 2024 with a sense of anticipation and excitement, as several key players are poised to make significant strides in the new year. From SpaceX's Starship progress to NASA's leadership changes and a potential recovery in venture financing, 2025 is shaping up to be a pivotal year for the industry.

One of the most highly anticipated developments is the progress of SpaceX's Starship program. With the company's ambitious goals to establish a human settlement on Mars, any significant milestones achieved in 2025 will be closely watched by the industry and space enthusiasts alike. Additionally, NASA is set to undergo significant changes under the leadership of incoming administrator Jared Isaacman, which could have far-reaching implications for the agency's priorities and initiatives.

Rocket Lab's Neutron debut is another highly anticipated event in 2025, with the company's innovative approach to rocket design and production set to disrupt the industry. Furthermore, startups like Impulse Space, Varda, and dozens of others are expected to embark on big missions, driving innovation and progress in the space tech sector.

In terms of venture financing, 2025 is expected to see a recovery from the lows of 2023. This could be further boosted by Elon Musk's Department of Government Efficiency, which proposes to simplify the regulatory and bureaucratic environment for infrastructure-heavy industries like space. If successful, this could have a significant impact on the industry, with the downstream effects potentially being seen very quickly.

In other news, Blue Origin provided an update on its inaugural New Glenn launch, stating that the only remaining hurdles are regulatory approvals for the rocket's hot fire test and launch. With just two weeks left in the year, it is still possible that New Glenn could launch in 2024, although the turnaround time will be tight. The company's demonstrator payload is currently being integrated into the fairing for the first launch.

In a significant funding announcement, Fleet Space Technologies closed a $100 million Series D round. The Adelaide, Australia-based startup has developed a technology stack to enable mineral prospecting from space, which will be critical in identifying lithium and other critical mineral deposits for future battery production.

Finally, as the holiday season approaches, it's worth taking a look back at how astronauts celebrate Christmas in space. NASA has shared a lovely collection of photos showcasing the festive decorations and traditions observed by the astronaut fleet on the International Space Station over the past 18 consecutive years.

As the space tech industry looks to the future, 2025 is shaping up to be an exciting and transformative year. With significant progress expected from SpaceX, NASA, and numerous startups, the industry is poised for a year of innovation, growth, and exploration.