For decades, space exploration was dominated by government programs and agencies like NASA. However, the commercial space industry has taken off in the past decade at a pace few predicted. The space economy, spanning satellites, launch services, communications, and even earth imaging, is projected to reach $1.8 trillion in the coming decade, according to the World Economic Forum.
Investors who want exposure to this rapidly expanding industry have a handful of publicly traded companies to choose from. While most of the industry’s headlines still go to privately held giants like SpaceX, several listed players have and could continue to benefit massively from the long-term growth story.
Here’s a look at five space stocks that have the potential to soar in the next decade:
Rocket Lab: The Emerging Challenger to SpaceX
When investors think of launch providers, Elon Musk’s SpaceX is likely the first name that comes to mind. But Rocket Lab USA (NASDAQ: RKLB) has been steadily carving out a niche in small satellite launches and is positioning itself as the number two commercial launch company globally.
Thanks to flawless execution, the company has enjoyed a meteoric rise and now has a $21.3 billion market capitalization. Shares have soared more than 740% over the past year.
Its Electron rocket has become a workhorse in the small satellite market, with dozens of successful launches under its belt. The company is making strides toward larger payload capabilities with its upcoming Neutron rocket.
Beyond launches, Rocket Lab is also expanding into spacecraft manufacturing, satellite components, and even on-orbit services. These are areas that offer higher margins and recurring revenue. That diversification is a key reason investors are excited about RKLB’s long-term story.
Financially, the company is still unprofitable, as you’d expect from a high-growth space stock, but revenue has been trending steadily higher. In its most recent quarter, Rocket Lab reported record revenue growth driven by increased launch cadence and strong demand in its space systems segment.
Analysts believe its long-term opportunity lies in becoming a vertically integrated space company, offering rides to orbit and the hardware and services needed to operate there.
If Neutron delivers as planned, Rocket Lab could begin competing in the medium-lift launch market, where the dollars are significantly bigger. In terms of capturing the commercialization of space, RKLB stands as one of the early leaders and purest of plays.
AST SpaceMobile: Building a Cell Tower in Space
Few space companies capture the imagination like AST SpaceMobile (NASDAQ: ASTS). Its mission is ambitious: to create the first space-based broadband network that allows standard mobile phones to connect directly to satellites without special equipment.
If successful, it would essentially act as a massive cell tower in space, extending coverage to billions of people in remote or underserved areas.
The company has already signed agreements with some of the world’s largest telecom operators, including AT&T and Vodafone, and it successfully placed its first large test satellite, BlueWalker 3, into orbit. Upcoming satellite launches will be critical in proving the technology’s scalability and reliability.
ASTS is still highly speculative, as commercial rollout is several years away and capital needs are enormous. However, the payoff could be transformative. Global connectivity is a massive market, and ASTS sits at the intersection of telecommunications and space, two industries with immense long-term demand.
The stock has been volatile, swinging dramatically on both positive test results and concerns about financing and competitive challenges. But for investors looking for high-risk, high-reward exposure, ASTS represents a moonshot bet that could change the way the world connects.
Redwire: Focusing on Space Infrastructure
While companies like Rocket Lab grab headlines with rockets and satellites, Redwire Corporation (NYSE: RDW) works quietly in the background, providing the critical infrastructure that makes space operations possible.
The company is a pure-play leader in space infrastructure, providing foundational solutions, systems, and payloads that make even the most complex of space missions possible.
The company has been positioning itself as an essential supplier to NASA, the Department of Defense, and private space companies. Its technology has been used in everything from Mars rovers to the International Space Station. In other words, Redwire is not chasing flashy projects but rather embedding itself as a key enabler of the entire space ecosystem.
Financially, Redwire has faced challenges, including uneven revenue growth. Most recently, in its Q2 earnings report, the company reported a significant EPS miss and revenue 25% below estimates. Management attributed this poor report to delayed contract awards and technical challenges, which led to unfavorable cost adjustments.
For now, it may not have the explosive upside potential or fundamental assurance of RKLB. However, its role as a supplier to multiple space missions gives it a firm long-term foundation to build on in the future.
Iridium Communications: A Proven Satellite Network
Iridium Communications (NASDAQ: IRDM) is already a profitable, cash-generating company, unlike some of the more speculative names in the space industry. Its constellation of low-Earth orbit satellites provides global voice and data services, with customers ranging from government agencies to maritime operators to aviation companies.
Iridium’s advantage is its established infrastructure. It completed a $3 billion satellite upgrade in 2019, giving it a modern and reliable network that can handle growing demand. The company also has an exclusive partnership with Qualcomm to integrate Iridium’s satellite services into smartphones, potentially broadening its consumer reach.
While Iridium doesn’t have the same “sci-fi” excitement as launching rockets or building cell towers in space, it has something just as important: recurring revenue and steady growth. Its subscription-based model provides predictable cash flow, and management has steadily improved revenue.
Wall Street is bullish on the stock, based on seven analyst ratings. IRDM has a consensus Buy rating with an implied upside of almost 40%.
IRDM represents the more conservative end of the space investing spectrum. It’s a stock that balances the excitement of exposure to the industry with the stability of an established business model. For investors who want a long-term stake in space without taking on extreme risk, Iridium might be a compelling choice.
Planet Labs: Unlocking the Power of Earth Data
Planet Labs PBC (NYSE: PL) operates one of the largest fleets of Earth-observing satellites, capturing daily images of the entire planet. This data has applications in agriculture, climate monitoring, defense, and disaster response.
As AI and machine learning improve, the value of this geospatial data only increases, unlocking insights that were impossible just a decade ago.
The company’s subscription model allows customers to access its vast imagery and analytics tools archive. That recurring revenue base has been growing steadily, though Planet Labs is still working toward consistent profitability. Its challenge lies in converting its technological edge into sustainable financial results.
Still, the long-term opportunity is massive. As industries and governments place increasing value on real-time data for decision-making, Planet’s dataset and infrastructure become more valuable. From tracking deforestation to monitoring military activity, its satellites provide information that is nearly impossible to replicate at scale.
For investors who believe in the growing importance of data in every aspect of the economy, PL is a unique play on space as an information platform rather than just a transportation hub.
Why Space Stocks Deserve Attention
The space industry today is in a position similar to the internet in the early 1990s. The infrastructure is being built, business models are being tested, and the long-term potential is undoubtedly enormous. But the winners and losers are still far from clear. Investors willing to take on the risk and volatility of this emerging sector could be rewarded handsomely over the next decade.
These five companies are worth watching due to their diverse approaches. Rocket Lab aims to become a leading launch provider. AST SpaceMobile focuses on providing global connectivity. Redwire develops infrastructure that supports others. Iridium runs a profitable satellite network. Meanwhile, Planet Labs leverages space for data collection and analytics.
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