10 July 2026
Space Race 2.0
The Lunar Comeback
In this quarter’s edition of Plane Talking, we look to explore mankind’s renewed fascination with all things Lunar, delving into past Lunar programmes, the milestones achieved, and the future of Moon exploration. This new wave of lunar exploration is marked by a blend of government-led initiatives and private-sector innovation, and a very real possibility of humans returning to the Moon by the end of the decade.
Starting in the mid-20th century, the original Space Race was a power struggle for the domination of space flight technologies between the United States and the then-Soviet Union (USSR). The twenty-year battle between two governments produced countless breakthroughs and discoveries in the worlds of engineering and science, with arguably the most important occurring on July 16th, 1969, when mankind landed on the Moon.
Officially ending in July 1975 – over five decades ago – with the first crewed international space mission conducted by NASA and the Soviet space program, the Apollo-Soyuz mission. Interest in returning to the Moon was renewed in the early 2000s when both the U.S. and China announced their respective programmes – Vision for Space Exploration and Chang’e.
Whilst the original space race has long since ended, mankind’s fascination with the Moon has not. With the very real possibility of humans returning and working on the Moon by the end of the decade, all eyes are once again on two opposing powers as they lead the way. The U.S. and China.
China, CLEP & the Chang’e program
The China Lunar Exploration Program, CLEP – or more commonly referred to as the Chang’e program was launched in 2004 and, like most major Lunar programs, is a way for China to establish a permanent presence on the Moon.
And whilst other programs’ progress stalled following the 2008 economic crash, China appeared to be largely unaffected and was able to reach significant technological and scientific milestones before the end of the 2020s.
Currently, the program consists of three technological phases;
Orbiting
- Chang’e 1, launched 24 October 2007, was an orbital probe tasked with creating a 3D map of the Lunar surface, which at the time created the highest resolution map of the Moon.
- Chang’e 2 launched on 1 October 2010, which, following on from its predecessor’s success, was equipped with a higher resolution camera and flown at a lower altitude over the surface of the Moon, allowing for more detailed imaging of the surface.
Landing
- Chang’e 3 launched on 1 December 2013 and landed on 14 December 2013, comprised of a Lunar lander and the Yutu rover. This was the first soft landing on the Moon since the Soviet Union’s Luna 24 mission in 1976, making them the third country to achieve this feat.
- This was quickly followed up with the Chang’e 4 in 2019, which, akin to its predecessor, consisted of a Lunar lander and the Yutu-2 rover. This was the first spacecraft to successfully ‘soft land’ on the far side of the Moon.
Returning
- Chang’e 5 launched on 23 November 2020 and was China’s first Lunar sample-return which was able to successfully collect circa 1731g of Lunar samples and return them to Earth for research.
- Chang’e 6, China’s second Lunar sample-return mission, launched on 3 May 2024 and was able to collect circa 1935g of Lunar samples from the Apollo Basin on the far side of the Moon.
What’s next – human space flight and lunar bases
Shenzhou 23 launched successfully on 24 May 2026 to deliver three astronauts to the Tiangong Space Station, with one to maintain residency for a full year to see how extended exposure in space would affect the human body. This mission will be tantamount to their ambition to send humans to the moon by 2030.
Chang’e 7 and Chang’e 8 are the next two planned missions, which are both set to launch before the end of the decade, 2026 and 2028, respectively. It is expected that these missions will lay the groundwork for the International Lunar Research Station (ILRS). With Chang’e 7 evaluating the possible sites for the ILRS and Chang’e 8 to begin its construction using In-Situ Resource Utilisation (ISRU) using Lunar regolith (loose, fragmented material that covers the surface of the Moon) to 3D print its building blocks.
The IRLS is a jointly led initiative between the CNSA and Roscosmos agencies, which will be situated at the Moon’s south pole. Construction is expected to begin in earnest in 2031 and be fully autonomous by 2035.
The United States, the Artemis Accords & program
The United States have long been at the forefront of space exploration, often leading technological advancements and international collaboration.
With the inception of the Artemis program in 2017, NASA began their first foray into Lunar exploration since the end of the Apollo program in 1972, with the goal to return humans to the moon and build the infrastructure to allow humans to travel to Mars and beyond.
The Accords
The Artemis Accords are considered by many to be a cornerstone of the global effort to ensure a responsible and sustainable exploration of Space, ultimately leading the way for mankind’s return to the Moon and further exploration of Mars and other celestial bodies.
As of May 2026, there are now 67 signatories, with at least two key space nations as non-signatories.
Artemis I
Artemis I - an uncrewed Moon-orbiting mission - was launched on 16 November 2022 after several delays, pushing back the initial launch slot of August 2022. The Orion spacecraft was able to successfully fly by the Moon on two separate occasions before ultimately returning to Earth.
Artemis II
Artemis II was a crewed flyby of the Moon and was the first crewed mission since 1972 to travel past low Earth orbit and the farthest distance mankind has ever been from Earth - 406,771 km. Due to the huge global attention this mission achieved, the phrase “Moon Joy” was coined to encapsulate the sentiment.
"Moon joy [noun]: the feeling of intense happiness and excitement that only comes from a mission to the Moon."
What comes after?
Artemis III – expected to launch in 2027, will be looking to establish the docking capabilities of the Orion Spacecraft with the commercial launchers of both SpaceX and Blue Origin.
Artemis IV – expected to launch in 2028, will be mankind’s return to the Lunar surface and the last mission before the construction of the Artemis Moon base at the south pole.
Artemis V and beyond – expected to launch in 2029, will be the fourth crewed mission and the first to break ground on the Moon base. The base is expected to be in operation by 2032 with a sustained and semi-human presence.
In Summary
The international collaboration achieved through these and many other global programmes has allowed for a greater push of the boundaries of human exploration and technological innovation.
This new era of Lunar exploration is often referred to as the ‘Second Space Race’, and whilst it is often viewed to have a similar rivalry as the original, there is one major difference. It is no longer a government versus government race; it is now a private (government-enabled) versus government battle, with companies such as SpaceX, Blue Origin and Firefly all jostling to lead from the American front.
Insuring Moon missions
The reignited interest in Lunar exploration has spurred a growing competitive insurance market, with several underwriters eager to support these ambitious endeavours within the international space insurance market.
Coverage is available for all phases of a Moon-bound mission, from launch all the way to day-to-day operations following landing, offering tailored coverage for the unique risks associated with space exploration. Insurers are currently particularly focused on providing comprehensive coverage for the launch and lunar orbit phases, given their critical importance and their deep knowledge and comfort with the major launch vehicle systems. As the space industry continues to demonstrate its capabilities for lunar missions, the availability of insurance for these will continue to follow suit, with available capacity growing and competition driving competitive pricing
Gallagher has proven its ability to develop innovative solutions to mitigate financial risks for space agencies and private companies venturing beyond Earth's orbit and is an ideal risk management partner for lunar missions.
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