Direct measurements of cosmic rays with satellite or balloon-borne detectors are used for understanding cosmic ray origin, acceleration and propagation, as well as exploring the supernova acceleration limitand searching for exotic sources such as dark matter. The energy reach of direct measurements is currently limited to ~1015 eV by the detector size and exposure time, but incident particles are identified element-by-element with excellent charge resolution. A challenge of balloon-borne and space-based experiments is that the detectors must be large enough to collect adequate statistics, yet stay within the weight limit available for space flight. Innovative approaches now promise high quality measurements over an energy range thatwas not previously possible. Recent results will be reviewed, and their implications will be discussed. The outlook of existing and future experiments will also be discussed.