From Artemis to SpaceX: Why space stocks are trending now

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From Artemis to SpaceX

Stocks enter a new orbit

The S&P Kensho Global Space Index, which tracks global companies involved in space travel and exploration, rose to 437 points. Over the past year, its return exceeded 92%, making the space sector one of the most notable thematic areas in the market.

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This performance shows that investor interest has spread beyond one or two well-known companies to a broad range of public players in the industry. The index includes dozens of businesses from different segments, including satellite communications, aerospace equipment, defense solutions, and services for space missions.

What fueled interest in the sector

One of the main drivers of growing interest in the sector was NASA’s Artemis II mission — the first crewed flight to the Moon in more than 50 years. The Orion spacecraft, carrying four astronauts, flew around Earth’s natural satellite before returning home. The mission collected unique data and images, becoming an important test ahead of the next stages of the Artemis program, including a future astronaut landing.

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The second factor is expectations around a possible IPO of SpaceX, Elon Musk’s company and the leading private player in space launches. According to the WSJ, SpaceX plans to debut on Nasdaq on June 12, 2026, although the timing may still change.

Government budgets are also providing additional support for the sector. The U.S. administration has allocated $71 billion for the U.S. Space Force in the 2027 budget, 77% more than a year earlier. The European Space Agency, meanwhile, is set to receive a record $25.9 billion for the next three years.

Who benefits from the space boom

But the space-company sector is not just SpaceX. Several groups of players can be identified here: some are developing rocket platforms and launch services, while others are building satellites, lunar landers, communications systems, navigation systems, and data-processing tools.

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In the launch segment, Rocket Lab and Firefly Aerospace are attracting attention. Rocket Lab shares have risen 76% since the start of the year, while Firefly Aerospace is up 75%. Both companies are developing rocket platforms and satellite launch services, but they operate in an extremely competitive market where launch reliability, mission costs, and the ability to scale production are crucial.

Intuitive Machines stands out separately, with its shares up 102% since the start of the year. The company does not produce its own rockets, but it operates in the segment of lunar missions, landers, cargo spacecraft, and services for NASA. This profile makes it an example of a business that can benefit not from launches themselves, but from demand for solutions for future missions and operations beyond low Earth orbit.

Another area is satellite data and Earth observation. Here, investors are watching Planet Labs and BlackSky: their shares have risen 110% and 102% since the start of the year, respectively. These companies collect and analyze geospatial data for businesses, governments, and the defense sector, while a broader supply chain is forming around them — from equipment and component manufacturers to companies involved in communications, navigation, and data processing.

Big forecasts and harsh reality

According to the World Economic Forum and McKinsey, the global space economy could grow to $1.8 trillion by 2035. Growth will be supported not only by launches and satellite communications, but also by navigation services, defense needs, logistics, transportation, digital communications, and other industries that require data and infrastructure from space.

However, the rapid rise in stocks does not eliminate risks. Many companies in the sector are still unprofitable and depend on future contracts, successful launches, government support, and their ability to turn technological projects into sustainable revenue. Any mission delay, technical failure, budget revision, or deterioration in market sentiment could quickly hit the valuations of such companies.

That is why the space sector no longer looks like just a speculative bet on the distant future, but a full-fledged investment theme. Still, choosing the winners will be difficult: the market is growing quickly, competition is intensifying, and today’s leaders will not necessarily keep their positions several years from now.

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