Abstract: The university-industry-government triple helix has been an ideal approach to interpret the growth of innovative industries, especially in the context of todays technological leap. This study examines the commercial space sectors in United States and China, the two leading space powers, to analyze how the triple helix structures evolve and synergize to shape their respective industries. It is found that in the United States, the helix is rooted in legislation and procurement support, spurred by a well-developed industrial system, and reinforced by extensive enterprise-university collaboration programs. In contrast, the Chinese triple helix formation trajectory begins with experimental policies and space infrastructure construction, evolves through enterprises considered positioning in reusable rocket and satellite internet, and is potentially propelled by an expanding scale of talents exiting state-owned space institutions or fostered by emerging academies. After that, a lateral comparison between the two triple-helix models is undertaken to unveil the characteristics, similarities, and disparities within the commercial space industries of these two nations. This paper concludes that, for nations aiming at establishing a commercially sustainable space industry, the essence lies in a fully developed triple helix where efforts of government, industry, and academia can systematically converge without significant lag in any aspect. The paper also mentions the potential benefits of commercial space cooperation between the United States and China.