While Elon Musk’s SpaceX is attempting to make humans multi-planetary, a number of publicly traded space stocks are forging ahead with plans to deliver massive payloads to space, provide access to high speed internet across the globe, and even create a space tourism industry.
Analysts at Citigroup are predicting that the space industry could reach $1 trillion in revenue by 2040. This comes as the space industry has already grown more than 70% since 2010.
With sky high growth expectations, a flurry of space companies have gone public over the last few years, the majority of them through SPAC listings that allowed them to raise billions of dollars. With huge capital influxes and a rapidly growing market, here are five space stocks to watch in 2023:
Aerojet Rocketdyne is an aerospace and defense focused space company that provides propulsion systems and energetics to space, missile defense and tactical systems to customers around the globe.
The company’’s Camden, Arkansas facility was recently expanded to integrate its solid rocket motor manufacturing activities. Aerojet says the investment will improve operational efficiency while increasing production capacity and reducing costs.
The 51,000 square foot facility consolidates multiple manufacturing activities under one roof. The company says the upgrades add advanced equipment, including modern tool-up bays, dedicated propellant casting and oven areas. Aerojet plans to begin production in the new manufacturing facility with a propulsion system program for its PAC-3 missile segment.
Shares of Aerojet Rocketdyne trade on the NYSE under the ticker symbol AJRD.
Founded in 2006, Rocket Lab is an end-to-end space launch and system support company that provides launch services, satellite manufacturing, and on-orbit management solutions.
Headquartered in Long Beach, California, the company manufactures small orbital launch vehicles and satellite platforms for customers. Rock Lab has completed 30 successful launches of its Electron Rocket and delivered more than 150 satellites to space. Additionally, the company’s Photon spacecraft platform was selected to support NASA missions to the Moon and Mars.
The company currently operates two launch pads at a private orbital site in New Zealand. A second launch site located in Virginia is expected to become operational this year.
Shares of Rocket Lab trade on the NASDAQ under the ticker symbol RKLB.
Planet Labs is a leading provider of global satellite imagery and geospatial solutions. Founded by three NASA scientists, the company operates the largest Earth observation fleet of imaging satellites, where it captures over 30 terabytes of data each day.
The company recently released new details of its commercial hyperspectral constellation offering, which it says will help customers identify social, environmental and climate risks while also providing methane and CO2 signature data. The company plans to launch its first two Tanager satellites in 2023.
Shares of Planet Labs trade on the NYSE under the ticker symbol PL.
Maxar Technologies, a provider of comprehensive space solutions and secure geospatial intelligence. The company has been selected by L3Harris Technologies to design and produce 14 spacecraft platforms as part of the Space Development Agency’s Tranche 1 Tracking Layer satellite program.
Designed, engineered and built in-house, Maxar’s modular satellite platforms will provide low Earth orbit monitoring as part of the program’s goal to create a global warning and tracking system of conventional and advanced missile threats, including hypersonic missiles.
Maxr will also provide related ground, operations and sustainment support to the program. The company plans to manufacture the platforms at its factories in Palo Alto and San Jose, California. Delivery is planned in 2024 and launches are scheduled to begin in 2025.
Shares of Maxar Technologies trade on the NYSE under the ticker symbol MAXR.
Virgin Galactic is a space travel company. The company’s goal is to pioneer human spaceflight and open space up to private individuals and researchers. Virgin Galactic is developing a spaceflight system designed to connect the world and offer customers a transformative experience.
The company recently announced a strategic partnership with Virtuoso®, the leading global network specializing in luxury and experiential travel, to make a limited number of seats for Virgin Galactic’s space flight experience available to Virtuoso’s global client base.
The company’s distinct flight system takes off and lands on a runway, allowing passengers to experience weightlessness and breathtaking views of Earth in comfort.
“Virtuoso’s prominence as the world leader in the luxury experiential travel category makes them the ideal strategic partner to expand our reach in this valuable sector,” said Blair Rich, Virgin Galactic President & Chief Business Officer, Commercial and Consumer Operations. “We are excited to offer this limited quantity of tickets to Virtuoso clients and to connect with those who are searching for meaningful, deeply transformational travel experiences.”
Shares of Virgin Galactic trade on the NYSE under the ticker symbol SPCE.
With the total addressable market of the space industry growing at such a rapid pace, investors are keeping a keen eye on space stocks that will capture controlling market shares. Other space-focused stocks that investors should keep their eyes on include:
For a full list of space stocks, news and quotes visit: https://greenstocknews.com/stocks/space-stocks
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