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# The Space Race: 7 Stocks, 7 Different Bets
- URL: https://www.equity-edit.com/the-space-race-7-stocks/
- Published: 2026-10-08T09:13:49.000Z
- Updated: 2026-10-08T09:13:49.000Z
- Description: From rockets and satellite internet to lunar exploration, the space economy is creating new investment opportunities. But which companies have real businesses today—and which are still selling tomorrow’s potential?
- Author: Editor
- Tags: Watchlists, #custom-hero, #Import 2026-10-08 17:11

Watchlist 

The Space Race.

7 companies on our radar.

SPCXRKLBLMTASTSLUNRRDWIRDM

Space is having its moment on Wall Street.

SpaceX’s blockbuster IPO has brought fresh attention to an industry once dominated by government budgets and scientific missions. Today, space is increasingly about commercial infrastructure: connecting smartphones, launching satellites, supporting national security and, eventually, building a presence on the Moon.

But here’s what investors should understand: **the space economy isn’t one business.**

A rocket manufacturer, a satellite network operator and a lunar exploration company may all benefit from growing investment in space. Yet their revenue models, profitability and risks are dramatically different.

__Based on what each company does, as described below. Hollow circle: Rocket Lab’s satellite communications would come through its planned Iridium acquisition.__
| Company                    | Launch | Satellite networks | Spacecraft & components | Government & defence | The Moon |
| -------------------------- | ------ | ------------------ | ----------------------- | -------------------- | -------- |
| **SpaceX**SPCX             |        |                    |                         |                      |          |
| **Rocket Lab**RKLB         |        |                    |                         |                      |          |
| **Lockheed Martin**LMT     |        |                    |                         |                      |          |
| **AST SpaceMobile**ASTS    |        |                    |                         |                      |          |
| **Intuitive Machines**LUNR |        |                    |                         |                      |          |
| **Redwire**RDW             |        |                    |                         |                      |          |
| **Iridium**IRDM            |        |                    |                         |                      |          |

Here are seven companies shaping the industry—and the investment cases behind them.

### One-year stock performance

7 Oct 2025 – 7 Oct 2026

**IRDM**IridiumUS$19.03 → US$48.34

+154.0%

**LUNR**Intuitive MachinesUS$11.79 → US$14.41

+22.2%

**RKLB**Rocket LabUS$61.51 → US$71.92

+16.9%

**LMT**Lockheed MartinUS$498.20 → US$499.15

+0.2%

**RDW**RedwireUS$10.97 → US$10.25

−6.6%

**ASTS**AST SpaceMobileUS$74.75 → US$60.69

−18.8%

Since listing · June 2026

**SPCX**SpaceXUS$135.00 → US$167.60 (IPO price)

+24.1%

Share-price change between closing prices, drawn to scale from zero. Excludes dividends. SpaceX is measured from its US$135 IPO price in June 2026, so it isn’t directly comparable. Iridium’s rise largely reflects Rocket Lab’s agreed takeover.

## 1\. SpaceX (SPCX) — The Industry Leader

SPCX

The Industry Leader

**US$4.29B**Q2 connectivity revenue*+66%*

**What it does:** SpaceX operates the Falcon rocket family, develops Starship and owns Starlink, the satellite internet network. Its growing AI operations have also become an important part of the investment story.

**The numbers:** In Q2 2026, its connectivity business generated approximately **US$4.29 billion** in revenue, up 66% year-on-year.

**Stock performance:** SpaceX only listed in June 2026, so a full one-year return isn’t available. Its shares have been volatile since listing, reflecting enthusiasm for its growth prospects and concerns over capital expenditure.

**Bull case**SpaceX combines launch capability with a fast-growing satellite network. Starship could lower launch costs further, while Starlink and AI offer potential recurring revenue at enormous scale.

**Bear case**The valuation already anticipates extraordinary growth. Its expansion into AI is capital-intensive, and plans to raise substantial additional financing have highlighted balance-sheet risks.

## 2\. Rocket Lab (RKLB) — The Challenger

RKLB

The Challenger

**US$234M**Q2 revenue*+62%* **US$2.36B**backlog

**What it does:** Rocket Lab launches small satellites with its Electron rocket, manufactures spacecraft and components, and is developing the larger Neutron rocket.

**The numbers:** Q2 2026 revenue reached **US$234 million**, up 62% year-on-year. Its contracted backlog stood at **US$2.36 billion**.

**Stock performance:** Rocket Lab has been a volatile growth stock, with investor sentiment closely tied to Neutron milestones and the company’s expanding ambitions.

**Bull case**Neutron could open a larger launch market. Rocket Lab’s planned acquisition of Iridium could transform it into an integrated space company with launch, manufacturing and communications capabilities.

**Bear case**The company remains loss-making, and Neutron has yet to prove itself commercially. Its valuation leaves substantial room for disappointment if launches or integration plans slip.

## 3\. Lockheed Martin (LMT) — The Established Contractor

LMT

The Established Contractor

**US$20.1B**Q2 group sales*+11%* **≈US$3.5B**from Space

**What it does:** Better known for fighter jets and missiles, Lockheed Martin also manufactures satellites, missile-warning systems and spacecraft for government customers.

**The numbers:** Q2 2026 group sales were **US$20.1 billion**, up 11%. Its Space division contributed approximately **US$3.5 billion**.

**Stock performance:** Its shares tend to be driven by broader defence spending, earnings and government contracts rather than commercial-space excitement alone.

**Bull case**Lockheed Martin offers an established, profitable business with exposure to national-security space programmes and long-term government contracts.

**Bear case**Space represents only part of its business. Investors looking for explosive commercial-space growth may find its overall growth profile less compelling.

## 4\. AST SpaceMobile (ASTS) — The Smartphone Disruptor

ASTS

The Smartphone Disruptor

**≈US$31.5M**Q2 revenue**US$150–200M**2026 guidance

**What it does:** AST SpaceMobile is building a satellite network designed to deliver cellular broadband directly to ordinary smartphones, reducing reliance on terrestrial mobile towers.

**The numbers:** Q2 2026 revenue was approximately **US$31.5 million**, with the company guiding towards US$150–200 million for the full year.

**Stock performance:** ASTS has experienced significant price swings as investors reassess the potential of direct-to-device satellite connectivity.

**Bull case**If its technology scales successfully, AST could address a vast global telecommunications market through partnerships with existing mobile operators.

**Bear case**Satellite deployment requires substantial funding. Commercial adoption, competition, regulatory approvals and execution remain significant hurdles.

## 5\. Intuitive Machines (LUNR) — The Moon Economy

LUNR

The Moon Economy

**What it does:** Intuitive Machines develops lunar landers, communications systems and infrastructure for missions to the Moon, including work associated with NASA.

**The business:** Its revenue is driven largely by government and mission-related contracts rather than recurring consumer subscriptions.

**Stock performance:** LUNR is a particularly event-sensitive stock, with mission results and government contract announcements capable of driving sharp movements.

**Bull case**If lunar exploration evolves into sustained commercial activity, Intuitive Machines could become an important infrastructure provider.

**Bear case**Missions are technically demanding, revenue can be uneven and a single unsuccessful mission can materially affect confidence.

## 6\. Redwire (RDW) — The Infrastructure Supplier

RDW

The Infrastructure Supplier

**≈US$117M**Q2 revenue**≈US$542M**backlog

**What it does:** Redwire supplies spacecraft components, sensors, power systems and other technologies used in space and defence programmes.

**The numbers:** Q2 2026 revenue reached approximately **US$117 million**, with contracted backlog of around **US$542 million**.

**Stock performance:** Redwire has experienced substantial volatility as investors weigh growth in space infrastructure against losses and execution risks.

**Bull case**Redwire can participate in industry growth across multiple programmes without relying on the success of one rocket or satellite network.

**Bear case**Profitability remains a challenge. Contract execution, margins and financing requirements are important risks.

## 7\. Iridium Communications (IRDM) — The Established Network

IRDM

The Established Network

**US$225.2M**Q2 revenue*+4%* **72%**recurring service revenue

**What it does:** Iridium operates a global satellite communications network serving aviation, maritime, government and enterprise customers.

**The numbers:** Q2 2026 revenue was **US$225.2 million**, up 4%, with recurring service revenue accounting for 72% of sales.

**Stock performance:** Shares have been influenced by Rocket Lab’s announced acquisition, making the stock partly a transaction-related investment rather than a standalone satellite-growth bet.

**Bull case**Iridium already has an established network, paying customers and recurring revenue. Combining with Rocket Lab could create a stronger vertically integrated business.

**Bear case**Organic growth is relatively modest, and the acquisition remains subject to regulatory approvals. The value investors ultimately receive also depends on Rocket Lab’s share price.

## THE EDIT

The opportunity

Space is becoming a commercial infrastructure industry, with potential demand from communications, defence, data and exploration.

What we’re watching

Rocket Lab’s Neutron programme and Iridium acquisition, AST SpaceMobile’s commercial rollout, and whether emerging space companies can turn contracts and technology into sustainable cash flow.

The biggest risk

Expectations. Several space stocks are valued for businesses that may take years to reach their full potential.

For investors, the most important question isn’t simply which company will win the space race.

> It’s which company can turn the space race into lasting profits—and whether its share price already assumes it will.

*For informational purposes only. Not investment advice.*