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Lasers are useful for performing operations such as joining, machining, built-up freeform fabrication, shock processing, and surface treatments. These attributes are attractive for the supportability of longer-term missions in space due to the multi-functionality of a single tool and the variety of materials that can be processed. However, current laser technology also has drawbacks for space-based applications, specifically size, power efficiency, lack of robustness, and problems processing highly reflective materials. A review of recent laser developments will be used to show how these issues may be reduced and indicate where further improvement is necessary to realize a laser-based materials processing capability in space. The broad utility of laser beams in synthesizing various classes of engineering materials will be illustrated using state-of-the art processing maps for select lightweight alloys typically found on spacecraft. With the advent of recent breakthroughs in diode-pumped solid-state lasers and fiber optic technologies, the potential to perform multiple processing techniques is increasing significantly. Lasers with suitable wavelengths and beam properties have tremendous potential for supporting future space missions to the moon, Mars and beyond.