Launch economics.Orbital spectrum.Sovereign stacks.The physics, capital, and politics of orbit.
Weekly research on the companies, capital, and engineering shaping the orbital economy.
coverage universe
Six themes. One thesis.
Every piece of analysis fits one of six themes — from launch pads to LEO constellations to the engineering physics behind both. Together they map the orbital economy.
Canadian Orbital Economy
Canada builds for everyone — MDA satellites, MAXQ launch pads, Telesat Lightspeed. Ottawa just committed $305M to sovereign launch. We cover the stack from Brampton to Nova Scotia.
Launch Economics
Reusability took launch costs from $54,500/kg to $2,000/kg. We track where the curve goes next — and who captures the margin when it hits $200/kg.
Orbital Spectrum
Launch costs are falling. Satellites are getting cheaper. Spectrum isn't. Amazon is paying $9B for Globalstar because licensed frequencies can't be manufactured at any price.
Propulsion & Engineering Physics
Supersonic retropropulsion. Cryogenic transfer at lunar scale. Hybrid vs turbopump. The engineering tradeoffs that determine which operators survive.
LEO Constellations
SpaceX and Amazon are vertically integrated. A dozen sovereign operators aren't. Who builds the constellations for everyone that can't — and what is that worth?
Picks-and-Shovels
Operators grab headlines. We cover who builds the infrastructure behind them — satellite manufacturers, ground stations, spectrum holders, launch pads nobody's underwriting.
the analyst
Bryan Tarras, M.Eng.
Five years on the buy side at one of Canada's largest pension funds. Engineering background. Now publishing independent research on the companies building orbital infrastructure — with a front-row view of the Canadian space stack.
Engineer · Institutional Investor · AI Operator
The narratives follow the physics... eventually. We start with the physics.Follow on LinkedIn
weekly from launch pad to orbit
The orbital economy,
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One long-form analysis per week. Engineering depth, institutional context, and the stories most coverage misses.