The Promise of Gravitational-Wave Astronomy

We review the promise of upcoming gravitational-wave (GW) observations in addressing some of the important open questions in astrophysics and cosmology. A decade after the first direct detection of GWs, the field is entering a transformative phase driven by progressive detector upgrades and the anticipated advent of space-based and next-generation ground-based observatories. These instruments will not only push the distance horizon of GW observations to cosmological redshifts, but will dramatically extend the accessible frequency band, opening entirely new source classes that lie beyond the reach of current detectors. The source landscape is rich enough that surprises are likely. This review surveys our current understanding across this landscape and offers some perspective on the discoveries that upcoming GW observations are poised to deliver.