Rocket Lab Corp. (NASDAQ:RKLB) shares are up more than 650% over the past year and the company is on a hot streak of rapid, successful launches.
Last weekend, Rocket Lab completed two rocket launches from the same site within 48 hours, a record turnaround for the company.
What To Know: Rocket Lab CEO Peter Beck joined CNBC's Closing Bell Overtime on Monday where he highlighted strong demand for launches from both commercial and government customers, especially as the market seeks more competition beyond SpaceX.
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In fact, the CEO said that demand is one thing he does not worry about.
"I worry about a lot of things at night, but that's probably not one of them — is demand," Beck said.
Rocket Lab's smaller Electron rocket is seeing increased use, often launching entire satellite constellations, and its upcoming Neutron rocket aims to break SpaceX's dominance in the medium-lift market.
The company has also expanded through acquisitions, including Geost and a German firm, Manaric. These moves allow Rocket Lab to offer end-to-end services by building not just rockets and spacecraft, but also payloads, which strengthens its position in national security and defense.
Beck noted that about half of Rocket Lab's business comes from commercial customers and half from governments, with national security becoming increasingly important as global instability drives up demand for space assets.
RKLB Price Action: Rocket Lab shares are up 656% over the past year and ended Tuesday's session at $34.33, according to Benzinga Pro.
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