US-listed Space companies are experiencing the best time in history ever, and this article will explore the key driving factors.
How hot is the market?
According to Seraphim Space, global investment in space companies nearly doubled from $3.93 billion in Q4 2025 to $7.95 billion in Q1 of this year, bringing the total investment over the past 12 months to an unprecedented $18.8 billion.
Furthermore, the number of investment deals increased to 159 in Q1 2026, bringing the total number of deals over the past 12 months to a record high of 654.
McKinsey estimates that the global space economy will be worth approximately $630 billion to $650 billion by early 2026. The total potential market (TAM) is expected to grow significantly, estimated to exceed $1 trillion by 2033-2035 and reach $1.8 trillion by 2035.
Three Hot Events Boost Stock Prices
SpaceX IPO
On March 25, 2026, Eastern Time, media reports indicated that SpaceX was about to file for an IPO, triggering a surge in US space-related stocks. At the close, TSLA +0.76%, AASTS +10.44%, RKLB +10.31%, FLY +16.01%, PL +11.12%, LUNR +14.68%, IRDM +10.62%, SATS +7.63%, MRCY +7.67%, SPCE +5.88%, and YSS +5.04%.
Bezos’ Space Empire advanced big
Bezos’ Space Empire advanced big by Amazon’s Acquisition of Globalstar and Blue Origin’s Successful Reusable Thruster Launch.
In mid-April, Amazon Leo, Amazon’s space business, announced the completion of its acquisition of Globalstar for $90 per share. The acquisition will integrate Globalstar’s satellite assets into Amazon’s Leo network, directly challenging Starlink. The Amazon-Globalstar deal may reshape satellite strategy and impact the existing space communications ecosystem.
On April 19, Bezos’s space company, Blue Origin, successfully launched its New Glenn rocket, reusing its thrusters for the first time. This successful mission is expected to reduce Blue Origin’s launch costs in the future.
The Iraq War
Since the start of the Iraq War over a month ago, it has taken a step further than the four-year-long Russia-Ukraine war, extensively employing various space- and technology-related weapons. These include cruise missiles guided by satellite positioning systems, which have been widely used for decades.
Israel has repeatedly used intelligence combined with satellite-guided precision bombs and missiles to kill many Iranian leaders. The United States has mobilized various electronic jamming devices to disable Iranian radar, allowing aircraft to operate with impunity in Iran.
Iran did not stand idly by and reacted swiftly. Reports indicate that, through satellite imagery monitoring by China and Russia, and with the assistance of satellite positioning systems, it not only launched precision drone strikes against US and Israeli military bases but also began shooting down or damaging Israeli and American stealth aircraft and various high-tech aircraft. This emboldened the US military to no longer act with impunity in its entry into Iranian airspace, resulting in significant US casualties.
Because the Iranian attacks exposed the damage to US bases, on April 4th, the US government requested all satellite imagery service providers to voluntarily suspend the release of images of designated areas indefinitely.
US Government Guidance
First US Manned Lunar Orbit in Past 50 Years
NASA successfully launched the Artemis 2 mission from the Kennedy Space Center in Florida at 6:35 PM Eastern Time on April 1, 2026. This marks the first time in over 50 years that the United States has sent a manned mission to the moon. The 10-day mission will carry four astronauts to orbit the moon and test systems needed for future lunar landings.
The Artemis program, part of the US lunar program, will conduct a ten-day lunar orbit mission in April with four astronauts to test the Orion spacecraft’s life support system and propulsion system. This will be the first manned mission to return to lunar orbit in half a century since the Apollo program ended in 1972.
If this mission is successful, the goal of a manned lunar landing may not be far off. This year is a crucial year for the US lunar program. Intuitive Machines has a lunar launch contract with NASA for the lunar program, and its revenue has grown strongly in the past two years due to frequently winning NASA contracts.
The following day, almost all US-listed companies saw a surge in their stock prices, with most rising by more than 10%: ATS +10.28%, EUTLF +9.28%, FLY +10.65%, GSAT +13.42%, IRDM +15.22%, LUNR +18.53%, MRCY -0.71%, PL +16.83%, RKLB +3.37%, SATS +6.70%, SPCE +2.50%, VSAT +18.70%, and YSS +18.77%.
Lunar Nuclear Reactor Project
On March 14, the US government released new federal guidance to accelerate plans to deploy nuclear reactors in space and on the moon. The executive order signed by Trump in December 2025 has already entered the implementation phase.
New federal guidelines require federal agencies to collaborate with private companies, aiming to deploy nuclear reactors in Earth orbit as early as 2028 and send related equipment to the moon by 2030. The guidelines also encourage multiple companies to participate to expand technological development and reduce costs.
Policy details show that NASA and the Department of Defense will launch a nuclear reactor design competition and require NASA to develop a space propulsion and lunar surface nuclear energy system plan within 30 days. The White House also requires the Department of Energy to assess the production capacity of the US nuclear energy supply chain within 60 days, with the goal of having the capacity to produce up to four space nuclear reactors within five years.
US Government Projects and Funding
Rising geopolitical risks have led the US Department of War to significantly increase resources for the Space Force in fiscal year 2026. 1.2 trillion worth Golden Dome is the most important thing so far.
Benefiting from satellite defense programs such as the Golden Dome, related space supply chain companies will benefit. Supply chain companies like Planet Labs and Blacksky have seen record-high order volumes, driving their operational growth.
Furthermore, given the geopolitical risk premium, the United States has designated China as a strategic competitor. This year’s US National Defense Authorization Act mandates that critical satellite components must exclude those from Chinese manufacturers, forcing satellite manufacturers to shift to high-end US supply chains or obtain relevant components from allies.
The US Space Force
The US Space Force was established in 2019, becoming the sixth military branch under the Department of Defense. The US Space Force awarded $3.2 billion in contracts to 12 companies, including Lockheed Martin and SpaceX, to develop prototype space interceptors for President Trump’s Golden Dome missile defense system.
These companies are tasked with demonstrating the ability to intercept missiles in space by 2028; the space interceptors, designed to destroy enemy missiles outside the atmosphere, are a crucial component of the Golden Dome system but have not yet been proven. Other companies that received contracts include Anduril, Booz Allen Hamilton, General Dynamics, GITAI USA, Northrop Grumman, Quindar, Raytheon (a subsidiary of RTX), Sci-Tec, True Anomaly, and Turion Space.
Other Commercial Space Services
Low Earth Orbit Satellites
Recent low Earth orbit (LEO) satellite launches have led to a boom in various applications, most notably space communications, mobile internet connectivity, and space reconnaissance.
Space Tourism
The current NASA Administrator, Jared Isaacman, is an avid space tourism enthusiast and has actually performed a spacewalk aboard a spacecraft. Isaacman, 41, is the founder of the electronic payment company Shift4 Payments. He is a close partner of Elon Musk and has collaborated extensively with Musk’s SpaceX.
In 2024, Isaacman led SpaceX’s Polaris Dawn mission, taking a crew of three aboard the Crew Dragon spacecraft to conduct the first-ever civilian spacewalk.
US-listed Space Companies
Space Supply Chain
Special alloy materials
Howmet Aerospace’s carbon fiber and special alloy materials, as well as Lumentum’s laser communication components, are considered irreplaceable hardware technologies. SpaceX rockets’ upstream core special metals and high-precision, high-density optoelectronic components still rely on companies with such high technological barriers, because these materials are needed by everyone launching satellites.
Direct-to-satellite mobile phone
This year also marks the commercialization of direct-to-satellite mobile phone connections, with AST SpaceMobile, which operates this service, officially launching commercial services with a global telecommunications giant.
SpaceX’s numerous launches annually accelerate its low-Earth orbit (LEO) satellite deployment plans. AST SpaceMobile is a major SpaceX launch customer; as LEO satellite deployment becomes more complete, the accuracy of satellite connection signals has significantly improved, driving its stock price up 2.8 times over the past year.
Last year, AST SpaceMobile’s revenue grew significantly to $71 million, demonstrating strong revenue growth momentum. Revenue primarily comes from gateway equipment deliveries and service contracts with the US government. In February, AST SpaceMobile secured a HALO Europa contract from the U.S. Space Development Agency, primarily utilizing its BlueBird satellite constellation to provide low-latency, effective tactical satellite communications for military equipment.
AST SpaceMobile also became a contractor for the U.S. Missile Defense Agency’s missile defense program, participating in research and development, engineering prototyping, and operation to validate the dual-purpose potential of its low-Earth orbit satellites in national defense (such as the “Golden Shield” strategy). Participation in U.S. government satellite service contracts underscores the company’s significant technological capabilities and future growth potential in this area.
Notable Space Stocks
IPO Boom
Besides SpaceX, Hawkeye 360, founded in 2015 and specializing in signal intelligence satellites, currently boasts over 30 satellites in orbit. It collects and analyzes global radio frequency signal intelligence through satellites, primarily serving U.S. and allied government intelligence agencies.
Profitable or Nearly Profitable Company
This article discusses several key factors driving the recent surge in the US space sector, which continues its upward trend. This confirms that the space satellite supply chain has gradually transformed from a startup sector to one where its stock performance is supported by strong future growth momentum.
The market generally expects that since the end of last year, many new technology companies in the US space satellite supply chain have transformed into profitable companies, with the potential for further growth. Several companies are even expected to break even by the end of this year or next year, or this is highly likely. Many of these new technology companies in the US space satellite supply chain have already achieved key financial indicators and are expanding their business significantly.
Stock Performance
Table 1: Key US Space Companies’ Stock Performance and Main Businesses
| ticker | 5/14/2026 price | YTD performance | Performance of Past 1 year | Performance of Past 5 year | P/E | Market Cap ($B) |
| PL | 43.04 | 118.26% | 1006.43% | 338.29% | – | 15.339 |
| BKSY | 42.66 | 127.52% | 251.11% | -46.24% | – | 1.583 |
| RKLB | 132.55 | 90.01% | 425.57% | 1225.50% | – | 76.713 |
| LUNR | 36.52 | 125.02% | 208.71% | 278.05% | – | 7.918 |
| FLY | 42.38 | 89.45% | -29.78% | 150.62% | – | 6.791 |
| ASTS | 83.01 | 14.29% | 216.35% | 1043.39% | – | 32.218 |
I am the author of the original text, the essence of this story was originally featured on Money Magazine, Issue of June 2026
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