Compare Companies
| Field | 🇩🇪 Rocket Factory Augsburg (RFA) | 🇩🇪 Isar Aerospace | 🇪🇸 PLD Space | 🇺🇸 Rocket LabNASDAQ: RKLB |
|---|---|---|---|---|
| Type | private | private | private | public |
| Country | 🇩🇪 Germany | 🇩🇪 Germany | 🇪🇸 Spain | 🇺🇸 United States |
| Founded | 2018 | 2018 | 2011 | 2006 |
| CEO | Prof. Dr. Indulis Kalnins | Daniel Metzler | Raúl Torres | Peter Beck |
| Mkt Cap / Valuation | Undisclosed; OHB SE strategic stake + KKR convertible (€30M, Aug 2023) | Over €1B (unicorn status confirmed July 2025 following Eldridge €150M convertible bond) | Undisclosed (post-money post €180M Series C, Mar 2026) | ~$9.5B |
| Employees | ~400 (post-overhaul, ahead of inaugural flight) | ~430 (Ottobrunn HQ, plus Andøya launch operations) | ~250 (post-Series C scale-up) | ~2,600+ |
| Sector | European Launch | European Small-Satellite Launch | European Launch | Launch & Space Systems |
| Last raise / Last filing | €30M (2023-08-08) | €150M (~$174M) (2025-06-25) | €180M (~$195M) (2026-03-04) | 10-K filed |
| Top risks | 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+) | 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 | Pre-revenue, development-stage launcher — first orbital flight slip beyond 2026 would compress runway despite €380M raised; Single-vehicle program; a launch-pad anomaly (as RFA suffered at SaxaVord in Aug 2024) could erase 12–24 months | Neutron development risk: a Q3 2025 stage-1 tank test failure caused schedule slip; any further major setbacks to a Q4 2026 debut could erode investor confidence and require additional capital.; Customer concentration: SDA and U.S. defense represent the majority of backlog; any budget sequestration or program changes in DoD space spending would materially impact near-term revenue visibility. |
| Next catalyst | RFA ONE inaugural orbital test flight from SaxaVord Spaceport (Shetland, UK) (Summer 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)) | MIURA 5 inaugural orbital test flight from Kourou (CSG), French Guiana (Late 2026) | Neutron first launch — Q4 2026 (2026-Q4) |
Maximum 4 companies. Pass slugs in the ids query parameter, comma-separated. Try SpaceX vs Blue Origin vs Rocket Lab vs Firefly.