When you're as rich as Star Citizen (now $49 million and counting) you don't just announce a new starship for your game, you create your version of the show Top Gear and it announces the new starship. Say hello to the M50 Interceptor.
"Galactic Gear" here is Cloud Imperium Games' fun way of telling everyone they've updated Arena Commander, the dogfighting module that released in June, with some new ships and features. One of them is the Interceptor, which can be flown in all modes, including a new event called the Murray Cup. That's a racing mode set in an upper-atmosphere scenario.
Other additions include new hangars, a HUD update, updated ship performance and the introduction of friend codes to help pilots connect with their wingmen. There also is a co-operative horde mode called Vanduul Swarm.
For more on Star Citizen, see Polygon's impressions from the game's official unveiling during PAX East in April.