Tory Bruno Resigns as ULA CEO, Marking a New Era in Space Exploration

by THEFUTURE.TEAM

December 23, 2025

Leadership Transition and Industry Shifts

The United Launch Alliance (ULA) has announced the resignation of Tory Bruno, its CEO of 12 years, as he steps aside to pursue new opportunities. ULA chairs Robert Lightfoot and Kay Sears expressed gratitude for Bruno’s service, noting his dedication to both ULA and the nation. His exit comes during a pivotal moment for the commercial space industry, as private companies continue to reshape the launch market.

Vulcan Project and Strategic Innovation

Under Bruno’s tenure, one of ULA’s most ambitious endeavors—the development of the next-generation Vulcan rocket—took shape. Designed to keep pace with modern competitors such as SpaceX and reduce reliance on Russian technology, the Vulcan project combined tried-and-true components from legacy Atlas and Delta programs with innovative engine solutions from Blue Origin. Despite experiencing significant delays, the Vulcan finally debuted in 2024, reinforcing ULA’s commitment to evolving its technology and cost structures.

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Competitive Market Dynamics

The resignation coincides with a period of intense competition in space launch services. As SpaceX dominates with an unprecedented launch cadence and secures critical government and private contracts, rival Blue Origin has emerged as a formidable competitor following the inaugural missions of its New Glenn heavy-lift rocket. These market forces have propelled ULA, a 20-year-old entity originally formed through a collaboration between Boeing and Lockheed Martin, into a rapidly changing landscape where innovation and agility are paramount.

Looking Forward: Interim Leadership and Future Prospects

With Tory Bruno’s departure, ULA has appointed Chief Operating Officer John Elbon as interim CEO while the search for a permanent leader continues. The company, which has already secured key customers including Amazon for its LEO internet satellite launches and space startup Astrobotic, is actively exploring measures to enhance the reusability of its rockets and expand payload capabilities. As the commercial space market accelerates, ULA’s strategic recalibrations will be under close scrutiny by industry stakeholders and government entities alike.

In his parting remarks on social media, Bruno stated, “It has been a great privilege to lead ULA through its transformation and to bring Vulcan into service. My work here is now complete and I will be cheering ULA on.” His legacy, marked by resilience and forward-thinking leadership, sets the stage for ULA’s next chapter in a fiercely competitive arena.

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Euro Area Trade Surplus Squeezed In November 2025 As Machinery Exports Slide

by THEFUTURE.TEAM

January 16, 2026

The euro area recorded a €9.90 billion surplus in trade in goods with the rest of the world in November 2025, marking a notable decline from the €15.40 billion surplus in November 2024. Eurostat’s latest data points to a cooling in international trade activity, driven primarily by weaker exports of manufactured goods, despite improvements in the energy sector.

Declining Exports And Imports

In November 2025, the euro area’s exports fell to €240.20 billion, a 3.4 percent drop from €248.70 billion a year earlier. Imports declined by 1.3 percent to €230.30 billion, compared with €233.30 billion in November 2024. This contraction in trade was mainly due to reduced activity in the manufacturing sector, which was only partially offset by gains in energy.

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Sectoral Shifts: Improvement In Energy Performance

Among the notable shifts, the energy sector showed substantial improvement. The energy deficit was narrowed significantly, decreasing from a minus €24.30 billion in November 2024 to minus €17.60 billion in November 2025. This improvement underscores strategic adjustments in energy-related policies and investments aimed at mitigating broader economic challenges.

Year-To-Date Performance And Trends

For the first 11 months of 2025, the euro area achieved a total surplus of €152.70 billion, a decrease from €156.80 billion in the same period of 2024. During this period, exports to the rest of the world increased by 2.3 percent to €2.70 trillion, while imports edged up by 2.6 percent to €2.55 trillion. Intra-euro area trade also grew by 1.6 percent, reaching €2.42 trillion, reflecting steady domestic market activities within the single currency bloc.

European Union Trade Outlook

Across the wider European Union, the trade surplus in November 2025 stood at €8.10 billion, compared with €11.80 billion in November 2024. EU exports fell by 4.4 percent to €213.80 billion, while imports declined by 2.9 percent to €205.70 billion. Although the energy deficit improved, shrinking from €28.20 billion to €20.40 billion, weaker performance in key manufacturing segments, particularly machinery and vehicles, weighed on the overall balance.

Over the first 11 months of 2025, the EU recorded a trade surplus of €122.40 billion, down from €128.00 billion in the same period of 2024. Exports and imports increased by 2 percent and 2.3 percent respectively, while intra-EU trade grew by 2.2 percent to €3.82 trillion. The data points to mixed trends across EU trade rather than a uniform pattern of expansion or contraction.

Seasonally Adjusted Insights

On a seasonally adjusted month-to-month basis, figures for November 2025 show that euro area exports increased by 1.1 percent and imports by 2.5 percent, resulting in a surplus of €10.70 billion. In the European Union, exports rose by 2 percent and imports by 3.5 percent, yielding a seasonally adjusted surplus of €8.80 billion.

During the three months from September to November 2025, trade with non-euro and non-EU partners revealed divergent trends. Manufactured goods continued to face challenges, while energy-related trade showed relative strength.

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