Measurements of the motion of natural (and artificial) bodies in the solar system provide key input on their interior structre and properties. Currently, the most accurate measurements of solar system dynamics are performed using radiometric tracking systems on planetary missions, providing range measurement with an accuracy in the order of 1 m. Laser ranging to Earth-orbiting satellites equipped with laser retroreflectors provides range data with (sub-)cm accuracy. Extending this technology to planetary missions, however, requires the use of an active space segment equipped with a laser detector and transmitter (for a two-way system). The feasibility of such measurements have been demonstrated at planetary distances, and used operationally (with a one-way system) for the Lunar Reconaissance Orbiter (LRO) mission. The topic of this dissertation is the analysis of the application of interplanetary laser ranging (ILR) to improve the science return from next-generation space missions, with a focus on planetary science objectives. We have simulated laser ranging data for a variety of mission and system architectures, analyzing the influence of both model and measurement uncertainties. Our simulations show that the single-shot measurement precision is relatively inconsequential compared to the systematic range errors, providing a strong rationale for the consistent use of single-photon signal-intensity operation. We find that great advances in planetary geodesy (tidal, rotational characteristics, etc.) could be achieved by ILR. However, the laser data should be accompanied by commensurate improvements in other measurements and data analysis models to maximize the system's science return. The science return from laser ranging data will be especially strong for planetary landers, with a radio system remaining the preferred choice for many orbiter missions. Furthermore, we conclude that the science case for a one-way laser ranging is relatively weak compared to next-generation radiometric tracking systems, requiring the development of much more accurate space-based clocks.