We know who will be making the suits for the Artemis I mission for NASA, and they are: Collins Aerospace and Axiom Space. Next-generation suits will be developed by the two companies and will be used for both spacewalks and moon exploration. NASA says it has defined the technical and safety standards for the Exploration Extravehicular Mobility Unit, but it is up to the partners to deal with the design, development, qualification, and certification.
The new suits could be ready as soon as 25 years from now, according to NASA. Having new suits is one of the most important tasks for future missions, as the space agency is also preparing for other new equipment. Around 45 years ago, astronauts were using space gear that is still in use today. In an August 2021 report, NASA noted that its xEMU plans likely won't hit its original target, and that it has spent around $420 million developing the new suits.