From Moon landings to plans for asteroid mining, China is beginning to exploit space to achieve its great power ambitions. Its strategy could, over time, severely and adversely impact U.S. economic and military security. The United States needs to structure its approach to space to ensure that it can meet or surpass PRC timelines. Authors Richard M. Harrison and Peter A. Garretson, both from the American Foreign Policy Council, review the literature on Chinese space ambitions and assess U.S. space-related initiatives across the government, military, and private sector to understand the maturity of technology available to support space initiatives. Their first-hand research and findings are supplemented by interviews with industry experts, corporate space leaders, and government and military officials. The Next Space Race describes and seeks to influence the development of American space policy to ensure the U.S. industrial base is ready to meet or surpass PRC milestones, empower and clarify the mission of the newly minted Space Force, provide guidance to NASA and other federal agencies, and incentivize private sector companies to contribute to ensuring American space primacy.