Bi-Weekly Geopolitical Report – Introducing the U.S. Space Force (January 29, 2024)
by Daniel Ortwerth, CFA | PDF
On December 20, 2019, something extremely rare happened in the United States Armed Forces: An entirely new branch of service was born. For context, the Army, Navy, and Marine Corps were born by acts of the Continental Congress in 1775. The Coast Guard came into being by act of the first U.S. Congress in 1790, and the relatively young Air Force was born by a similar act of Congress in 1947. Clearly, these are very rare events, so it was a historic occasion when Congress authorized the establishment of the U.S. Space Force (USSF) as an independent branch of the U.S. Military just four years ago.
We begin this report by discussing the background of the USSF, including how its birth was similar to that of the U.S. Air Force (USAF) and how its relationship with the USAF is similar to the Marine Corps’ relationship with the Navy. We also discuss why a new service branch was deemed necessary and what it says about the future of space warfare. As always, we wrap up with a discussion of the implications for investors.