The moon seen from the International Space Station on July 9, 2018.

The National Aeronautics and Space Administration is asking Congress for a $25.2 billion budget next year, a 12% increase from last year that will likely be a boon for companies across the space industry.

NASA's request represents a "bigger than expected increase" to its budget, Morgan Stanley analyst Adam Jonas wrote in a note to investors on Tuesday, with significant implications.

"The pace of development of the space economy is a function of interaction between private investment, government/policy support and public awareness," Jonas said.

NASA got $22.6 billion from Congress for fiscal year 2020 and its increased request stems largely from the agency's goal of fulfilling President Donald Trump's directive to land astronauts on the moon by 2024 – known currently as the Artemis program.

Nearly half of this year's request, or $12.37 billion, is for NASA's lunar campaign – much of which would go some of the biggest space companies in the U.S. The agency outlined $1.4 billion for the Orion spacecraft and $2.26 billion for the Space Launch System, programs for which Lockheed Martin, Boeing, and Aerojet Rocketdyne are the primary beneficiaries.

There is also $3.37 billion proposed to fund the development of competing crewed lunar lander systems, up for grabs with several coalitions submitting competing bids.

"This kind of budget would move us a long way towards the administration's 2024 goals by funding development of two or more of the large lunar landers proposed by SpaceX, Blue Origin, Boeing, Dynetics and others," Rob Meyerson, an industry consultant and former president of Blue Origin, told CNBC.

NASA noted that this is the first time it would direct funding to such a system since the Apollo program. Deloitte specialist Jeff Matthews explained that these commercial providers stand to benefit from NASA budget, although it has yet to be seen what Congress adjusts before approving the budget.

"This is the first step in long process towards appropriations, but I'm encouraged by the ambitious plan presented by the Agency," Matthews said.