Existing DOD and NASA satellite breakup models are based on a key laboratory test, the 1992 Satellite Orbital debris Characterization Impact Test (SOCIT), which has supported many applications and matched on-orbit events involving older satellite designs reasonably well over the years. To update and improve these models, the NASA Orbital Debris Program Office, in collaboration with the Air Force Space and Missile Systems Center, The Aerospace Corporation, and the University of Florida, conducted a hypervelocity impact test using a high-fidelity mock-up satellite, DebriSat, in controlled and instrumented laboratory conditions. DebriSat is representative of present-day LEO satellites, having been constructed with modern spacecraft materials and techniques. The DebriSat fragment ensemble provided a variety of shapes, bulk densities, and dimensions. Fragments down to 2 mm in size are being characterized by their physical and derived properties. A subset of fragments will be analyzed further in laboratory radar and optical facilities to update the existing radar-based NASA Size Estimation Model (SEM) and develop a comparable optical-based SEM. Thoroughly understanding size estimates from ground-based optical and radar sensors is one of the key parameters used in assessing the environment and the risks that debris present to operational spacecraft. The data will inform updates to the current NASA Standard Satellite Breakup Model (SSBM);, which was formulated using laboratory and ground-based measurements of on-orbit fragmentation events to describe an average breakup for spacecraft and upper stage collisions and explosions. DebriSat will extend the laboratory data ensemble. The DebriSat shape and density categories provide a baseline for non-spherical projectile hypervelocity impact testing for damage assessment. The data from these tests, simulations, and analyses will be used to update the NASA Orbital Debris Engineering Model (ORDEM) with more realistic simulations of catastrophic fragmentation events for modern satellites and to assess the risk posed by the orbital debris environment. This paper provides an overview of the project, updates on the characterization process, and the NASA analysis status.