The 2026 Space Outlook: Beyond SpaceX, What Investors Should Watch

The global space economy showed fantastic growth in 2025 and is looking to continue the momentum in 2026. The expansion is being driven by a combination of technological, commercial, and geopolitical factors. Going forward, the space sector is forecasted to be valued at $1.8 trillion by 2035, according to Aranca.

President Donald Trump issued an executive order entitled "Ensuring American Space Superiority" last December. The document enshrined the U.S. goal to put humans back on the moon by 2028 and defend space from weapon threats. Satellite stocks including $Planet Labs Pbc(PL)$  , $EchoStar(SATS)$  , and $Viasat(VSAT)$   each rose more than 300% in 2025.

Moreover, capital markets are holding their breath for another milestone—if Elon Musk's SpaceX pursues an IPO this year, it could become the ultimate catalyst igniting investment fervor across the entire space sector.

Which companies are worth watching?

Orbital Lunch

Industry Leaders and Challengers: While SpaceX remains a private company, it continues to set industry standards. In the public markets, $Rocket Lab (RKLB.US)$ is rapidly establishing itself as the "second major player," with its Neutron rocket viewed as a key growth engine.

Additionally, $Firefly Aerospace (FLY.US)$ is dedicated to providing end-to-end space transportation services from low Earth orbit (LEO) to the lunar surface. The company is known for its cost-effective light launch vehicle "Alpha" and lunar lander "Blue Ghost," and serves as a core contractor for the U.S. Department of Defense's "Tactically Responsive Space" missions. It's regarded as a leader in rapid space deployment and one of Rocket Lab's strongest potential competitors in the small-to-medium launch market.

Alliance of Traditional Giants: The veteran United Launch Alliance (ULA) remains solid, backed by aerospace giants $Boeing (BA.US)$ and $Lockheed Martin (LMT.US)$ , maintaining a core position in heavy-lift defense launch missions.

Satellite Operators

$Planet Labs PBC (PL.US)$ gained more than 380% in 2025. The company runs a large group of small satellites that take daily images of Earth. These images are sold to governments and firms that track land, weather, and activity. During the year, Planet Labs signed new deals with NATO, NASA, and the U.S. Navy. It also raised guidance after strong demand and a larger backlog. In addition, the firm works with $Alphabet-C (GOOG.US)$ on AI tools that help process data in space.

$AST SpaceMobile (ASTS.US)$ rose more than 240% in 2025. The company launched its largest-ever satellite, BlueBird 6, on December 23, marking a key step in its push to provide space-based mobile connectivity. The deployment, the first in a planned series, positions the company to challenge SpaceX’s Starlink by enabling ordinary mobile phones to connect directly to satellites.

Additionally, AST SpaceMobile shares closed up 8.9% on Monday. AST has kicked off the launch campaign for its upgraded BlueBird satellites, with BlueBird 7 now in Florida for launch-vehicle integration, according to Via Satellite.

The move matters because AST is trying to shift from single-satellite demonstrations to a repeatable launch cadence — a key test for any space network that plans to sell always-on coverage. Its business hinges on building enough satellites to connect ordinary smartphones using standard 4G/5G signals, rather than relying on specialized handsets.

$EchoStar (SATS.US)$ climbed more than 375% during the year. EchoStar owns Dish TV and large wireless spectrum assets. In 2025, the company sold major spectrum rights to AT&T and SpaceX for about $40 billion combined. This generated cash and eased pressure to fund a full 5G build. As a result, investors began to value EchoStar as a flexible connectivity firm rather than a legacy TV group.

Manufacturing & Supply

Besides Boeing and Lockheed Martin mentioned above, $Northrop Grumman (NOC.US)$, $RTX Corp (RTX.US)$, $GE Aerospace (GE.US)$, $L3Harris Technologies (LHX.US)$, and $AIRBUS SE (EADSY.US)$ are all reliable contractors for space defense orders.

$Teledyne Technologies (TDY.US)$, $Honeywell (HON.US)$, $Heico (HEI.US)$, and $Astronics (ATRO.US)$ provide essential navigation, control, and imaging sensors for satellites and rockets.

$Kratos Defense & Security Solutions (KTOS.US)$ leads in satellite ground communication systems and drones. $Redwire (RDW.US)$ focuses on cutting-edge space infrastructure and manufacturing solutions, from solar arrays to space-based 3D printing, enabling sustainable human exploration, satellite servicing, and lunar development.

The surge in space stocks shows how views on space assets have changed. The space industry in 2026 will be about real, hard-nosed commercial competition. Looking ahead, whether it's long-term space exploration or the near-term race for orbital resources, commercial spaceflight holds profound strategic significance.

However, investors need to stay clear-headed and recognize that the space industry still faces high technical barriers, heavy capital expenditures, and long payback periods. Government budget fluctuations, launch mission uncertainties, and technology iteration risks can all trigger severe stock price volatility.

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