In a CNBC analysis, it has been revealed that the aerospace industry in the Denver and Boulder metro areas has experienced a staggering 88% growth over the past two decades. The region has emerged as a hub for aerospace businesses, with a wide range of companies operating in the sector, from industry giants like Lockheed Martin, Boeing, and Northrop Grumman to innovative startups in commercial space and defense technology.

The Colorado Space Coalition reports that there are currently 191 aerospace businesses supporting around 29,000 jobs in the region. The area benefits from strong industry partnerships and the presence of a robust military network, including multiple U.S. Space Force bases and the U.S. Air Force Academy.

The rise of Denver and Boulder as aerospace hubs may not be immediately apparent to the casual observer, but the industry's growth has been undeniable. The region's proximity to the Rocky Mountains and its higher elevation, which is closer to space than sea level, have played a role in attracting businesses in the sector.

One such company that recognizes the advantages of the region is Voyager Space, a multinational space conglomerate founded in 2019 by Dylan Taylor. Taylor highlighted Denver's access to talent, government support, and emerging venture capital market as factors that made it an ideal location for Voyager's growth.

The corporate roster in the area is impressive, with established contractors like Lockheed Martin, Boeing, and Northrop Grumman operating alongside newer startups such as Ursa Major and True Anomaly. Notable presence includes United Launch Alliance, BAE Systems, and RTX, as well as companies like Sierra Space and Blue Origin, the space venture of Jeff Bezos.

U.S. Sen. John Hickenlooper, who served as Colorado's governor and Denver's mayor, stated that aerospace has become a crucial component of the local economy. He praised the collaborative nature of the industry, describing it as a community where all entities work together towards common goals.

Voyager Space itself has made seven acquisitions, two of which were local startups. Taylor revealed that the company, currently employing approximately 700 people, is planning to enter the public markets in the future. Their most prominent project, Starlab, aims to replace the aging International Space Station and has partnered with Airbus and Mitsubishi.

The region's aerospace growth extends beyond Voyager, with other companies like Orbit Fab making significant strides. Backed by Lockheed Martin and Northrop Grumman, Orbit Fab relocated to Colorado in 2021, attracted by the larger aerospace workforce. The company, which focuses on building "gas stations" in space for satellite refueling, has experienced substantial growth since moving, expanding from six to 60 employees.

The Denver-Boulder region's unique advantage lies in its strong military presence, including three separate U.S. Space Force bases and the U.S. Space Operations Command. This partnership with defense contractors and startups enables cost reduction and rapid innovation crucial to national defense, according to Col. Heidi Dexter, commander of Space Base Delta 2 at Buckley Space Force Base.

Colorado now boasts the highest number of private aerospace employees per capita in the country, further solidifying its position as an aerospace industry powerhouse. The allure of attracting young talent and entrepreneurs has contributed to the region's success and its ongoing transformation into a business hub with an entrepreneurial spirit.

To further explore the thriving aerospace industry in the Denver and Boulder areas, CNBC will air a one-hour primetime special, "Cities of Success: Denver & Boulder," on April 11th at 10 pm ET. The program will delve into the transformative growth of these cities, which have attracted capital, companies, and employees with their entrepreneurial ecosystems.