Over the past 14 years, NASA has spent US$ 420 million trying to develop next generation space suits to replace the aging shuttle-era suits used for extravehicular activity on the U.S. segments of the International Space Station. This money bought lots of prototypes, such as the “Z series space suits”, but nothing which was ready to fly or would be available in time for planned lunar missions.
Now, NASA has abandoned the effort and awarded contracts totaling US$ 3.5 billion over twelve years to Axiom Space and Collins Aerospace, which will develop space suits for NASA and provide them on a rental basis: “EVA as a service”.
Here is the full NASA press conference announcing the space suit contract awards.
This is the Collins Aerospace brag video about winning the contract.