Compare Companies
| Field | 🇩🇪 OHB SEFrankfurt (Prime Standard / XETRA): OHB | 🇩🇪 Mynaric | 🇩🇪 Isar Aerospace | 🇩🇪 Rocket Factory Augsburg (RFA) |
|---|---|---|---|---|
| Type | public | private | private | private |
| Country | 🇩🇪 Germany | 🇩🇪 Germany | 🇩🇪 Germany | 🇩🇪 Germany |
| Founded | 1981 | 2009 | 2018 | 2018 |
| CEO | Marco Fuchs | Bulent Altan | Daniel Metzler | Prof. Dr. Indulis Kalnins |
| Mkt Cap / Valuation | ~€5.0B (May 2026, share price ~€278) | — | Over €1B (unicorn status confirmed July 2025 following Eldridge €150M convertible bond) | Undisclosed; OHB SE strategic stake + KKR convertible (€30M, Aug 2023) |
| Employees | ~3,800 (Group, FY2025) | ~350 (Munich, Los Angeles, Washington D.C.) | ~430 (Ottobrunn HQ, plus Andøya launch operations) | ~400 (post-overhaul, ahead of inaugural flight) |
| Sector | Satellite Manufacturing | Laser Communications Terminals | European Small-Satellite Launch | European Launch |
| Last raise / Last filing | — | — | €150M (~$174M) (2025-06-25) | €30M (2023-08-08) |
| Top risks | Concentration risk: ESA, EU and EUMETSAT account for the bulk of revenue — political budget cycles or program rephasing hit OHB directly.; Project execution risk on fixed-price space contracts — FY2024 EBIT collapsed to €14.1M after a project-related risk provision and a Group-wide transformation charge. | Production scaling history is the company's weakest track record — repeated 2024 delivery misses (€50–70M guidance cut to €14.1M actual) drove the StaRUG restructuring; volume CONDOR Mk3 output remains the open execution risk under Rocket Lab; Customer concentration on a single buyer (U.S. Space Development Agency, via three primes) means any SDA tranche delay, descope, or budget cut directly hits revenue | Flight 2 outcome is the dominant risk — the first Spectrum flight on 30 March 2025 was terminated by the Flight Termination System ~30 seconds after liftoff due to a vent-valve opening and roll-control loss; a second consecutive failure would be near-existential; Production ramp from one rocket per year (R&D cadence) to 6–10 per year (commercial cadence) is unproven and capital-intensive; the €150M Eldridge convertible buys runway but a Series D is required | August 2024 SaxaVord stage-1 hot-fire anomaly destroyed a complete first stage and damaged the launch mount — a repeat would be catastrophic for the company's funding runway; Pre-revenue, development-stage launcher with smaller balance sheet than Isar Aerospace (€400M+) and PLD Space (€380M+) |
| Next catalyst | Hera arrival at the Didymos binary asteroid system (Oct 2026) | Integration of Mynaric into Rocket Lab Space Systems segment — first consolidated quarterly disclosure (Q3 2026) | Second Spectrum flight 'Onward and Upward' — qualifying mission with first paying customer payloads (5 cubesats + 1 experiment) (Q2 2026 (most recently scrubbed April 9, 2026 due to suspected COPV leak; rescheduling underway)) | RFA ONE inaugural orbital test flight from SaxaVord Spaceport (Shetland, UK) (Summer 2026) |
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