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June 29, 2025 has been a remarkably eventful day in space news, reflecting the full spectrum of human endeavors beyond Earth. From rockets old and new launching satellites and people, to rovers and orbiters uncovering Mars’ secrets, to powerful telescopes gazing at exoplanets and the cosmic web, and industry forging ahead amidst policy battles – the progress of space exploration and utilization shows no signs of slowing. Each accomplishment and challenge reported today – whether scientific, technical, commercial or diplomatic – plays a part in shaping the future of humanity’s journey in space. As we close out this day’s roundup, one thing is clear: space remains the arena of grand ambitions and global interest, and every day brings new milestones in our quest to understand and expand the final frontier.

The headlines in the space industry over the past month have delivered a sobering reminder: space is not forgiving, and certainly not friendly to overpromising entrepreneurs. From iSpace’s second failed lunar landing attempt (making them 0 for 2) to SpaceX’s ongoing Starship test flight setbacks — amid a backdrop of exploding prototypes and shifting goalposts — the evidence is mounting that the commercialization of space is not progressing in the triumphant arc that press releases might suggest. This isn’t just a series of flukes. It points to a structural, strategic and cultural problem in how we talk about innovation, cost and success in space today.

The Ministry for National Economy and HypeX Consulting proudly concluded their three-part Space Workshop Series aimed at strengthening Hungary’s role in the global space economy. The initiative explored key topics including space law, international cooperation, market access, and financing — with each session offering practical insights for Hungarian companies and institutions.

NATO’s agreed to open its wallet wider, and space and defense players are likely lining up to benefit. The military coalition’s brand-new commercial space strategy adds the cherry on top. Now inked, at the vocal behest of U.S. President Donald Trump, is a pledge to more than double alliance members’ defense expenditure from 2% to 5% of their gross domestic product by 2035. Some 3.5% of that funding should be funnelled toward “pure” defense, while the remaining 1.5% should be slated for security-linked infrastructure, such as cyber warfare capabilities and intelligence.

The European Commission released its long-awaited proposal for an EU Space Act this week. The act aims to boost the region’s space industry by cutting red tape, creating one standard for legal and technical requirements, and ensuring Europe’s space industry remains safe and sustainable. The Space Act would create standard operating procedures across the space industry, from launch licensing to satellite safety, if it’s approved by the European Parliament and the Council of the European Union. But how much would space companies in Europe feel the impact of such a widespread policy change?

The European Commission has proposed ambitious new measures to make Europe's space sector cleaner, safer and more competitive. Europe’s space rules are currently fragmented, holding back innovation, reducing the European market share and creating extra costs. An EU harmonised framework would ensure safety, resilience, and environmental responsibility, while helping companies grow and scale up across borders.

Right after the successful launch of Axiom Mission 4 (Ax-4), the astronauts aboard the SpaceX Dragon spacecraft revealed the name of their vehicle: Grace. “We had an incredible ride uphill, and we now set our course for the International Space Station aboard the newest member of the Dragon fleet — our spacecraft, ‘Grace.’ Grace is more than a name. It reflects the elegance with which we move through space against the backdrop of Earth. It speaks to the refinement of our mission, the harmony of science and spirit, and the unmerited favor we carry with humility. Grace reminds us that spaceflight is not just a feat of engineering, but an act of goodwill —for the benefit of every human, everywhere,” said Ax-4 Commander Peggy Whitson.

Axiom Mission 4 has successfully launched from NASA's Kennedy Space Center, carrying the multinational crew of four astronauts — including the first-ever representatives from India, Hungary, and Poland to travel to the International Space Station (ISS). The mission is led by veteran NASA astronaut Peggy Whitson, and marks a significant milestone for international collaboration in space. Indian astronaut Shubanshu Shukla expressed excitement about experiencing space and hoped to inspire a new generation back home. The mission includes scientific experiments focusing on microgravity's effects on health, food crops, and materials — with seven Indian-led experiments onboard. Professor Aloke Kumar from the Indian Institute of Science emphasized the importance of this mission for India’s future space ambitions, including plans for its own orbital station. The mission is also seen as a symbol of peaceful international cooperation amid global tensions.

Seven satellites have been launched for the Italian Earth observation mission, IRIDE. The satellites form part of the Hawk for Earth Observation (HEO) constellation, which carries multispectral optical instruments. The constellation will provide data for products and services that will help public authorities to make decisions based on scientific data from space. The IRIDE programme will provide information for a wide range of environmental, emergency and security services for Italy.

The 55th Paris Air show, held every other year, is drawing thousands to Le Bourget Airport, showcasing cutting-edge aviation and aerospace innovations. From next-gen aircraft to futuristic space exploration tech, the event offers a glimpse into the future of travel - both on Earth and in space. CGTN's Sarah Coates reports from Paris on one ambitious company racing to put its rover on the Moon.

The partnership between Dassault Aviation and the European Space Agency (ESA) on the VORTEX spaceplane project is no longer a distant ambition—it's a near-term reality with profound implications for Europe's technological independence. As the VORTEX-D demonstrator nears its critical 2025 test phase and ESA's funding decisions loom, the collaboration is emerging as a cornerstone of European leadership in reusable hypersonic space systems. For investors, this is a strategic opportunity to capitalize on a project that promises to redefine the continent's role in the $100 billion low-Earth orbit (LEO) economy.

Norwegian defence company Kongsberg Defence & Aerospace has signed agreements with two leading Ukrainian industrial partners to co-develop air defence missiles and unmanned surface vessels. The announcement coincided with the opening of Kongsberg’s new permanent office in Kyiv.