Global Space Economy
The new space economy — 66 companies across 10 countries, $626B in 2025
Space Stocks — Live Prices
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Public-Comp Scorecard
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| 047810KOSPI | 🇰🇷South Korea | ~₩9.5T (~$7.0B) | ₩3,696.4B (~$2.7B) FY2025 | ~₩30T+ (~$22B+) total — KF-21 production, T-50 family exports, Apache MRO, Nuri/CAS500 satellite programs | … | 3166666666666.7x |
| SPCXNasdaq | 🇺🇸United States | ~$1.77T (IPO price $135/share × 13.1B shares; intraday peak ~$2.2T on debut day 2026-06-12) | $13.1B (estimated FY2024; Starlink $7.7B + launch $5.4B) | — | … | 135.1x |
| PLTRNASDAQ | 🇺🇸United States | ~$340B | $4.48B (FY2025, +56% YoY) | — | … | 75.9x |
| 451760KOSDAQ | 🇰🇷South Korea | ~₩290B (~$210M) | ₩38.9B (~$28M) FY2025 (+32.8% YoY) | Multi-year GSaaS contracts with global LEO operators; 12 ground stations across 10 countries | … | 7.5x |
| RTXNYSE | 🇺🇸United States | $238B | $88.6B | $268B ($107B defense, $161B commercial) | … | 2.7x |
| BANYSE | 🇺🇸United States | $187B | $89.5B | $521B total ($64B BDS) | … | 2.1x |
| 462350KOSDAQ | 🇰🇷South Korea | ~₩175B (~$125M) | Pre-revenue / minimal — no successful orbital flight yet; FY2025 sales primarily R&D grants and TLV test contracts | $5.8M MBS Germany 2-launch contract + Brazilian UFMA/CLC payloads + RSAT North American MOU | … | 86419753.1x |
| 186ATokyo Stock Exchange Growth Market | 🇯🇵Japan | ~¥120B (~$770M) | ¥4.7B (~$30M) FY2024; ¥18B (~$115M) forecast FY2025 | ¥34B+ (~$220M) — boosted by ELSA-M (¥2.3B) and ADRAS-J2 (¥12B) | … | 25.5x |
| LMTNYSE | 🇺🇸United States | $118.7B | $75.0B | $194B | … | 1.6x |
| NOCNYSE | 🇺🇸United States | $78.0B | $42.0B | $91.5B (FY2024 record; FY2025 backlog growing) | … | 1.9x |
| RKLBNASDAQ | 🇺🇸United States | ~$68.8B | $601.8M | $1.85B | … | 114.3x |
| 9348Tokyo Stock Exchange Growth Market | 🇯🇵Japan | ~¥62B (~$400M) | First-ever data-business revenue recognized Q1 FY2026 from Mission 2; full-year FY2026 still de minimis | $22M Magna Petra (Helium-3, Mission 3) + Draper-led NASA CLPS payload allocation + multiple commercial payload customers across Mission 2/3/ULTRA | … | 62000000000.0x |
| LHXNYSE | 🇺🇸United States | $56B | $21.9B | $38.7B | … | 2.6x |
| ASTSNASDAQ | 🇺🇸United States | ~$22B | $70.9M | >$1.2B (contracted revenue commitments from telco partners) | … | 310.3x |
| KTOSNASDAQ | 🇺🇸United States | ~$13B | $1.347B (FY2025, +18.5% YoY) | ~$1.6B (FY2025 year-end estimate) | … | 9.7x |
| PLNYSE | 🇺🇸United States | ~$12.8B | $307.7M | >$900M backlog; $852M Remaining Performance Obligations (+106% YoY) | … | 41.6x |
| MDAToronto (TSX) | 🇨🇦Canada | ~CAD $5.8B | CAD $1.63B | CAD $4.0B (year-end 2025); CAD $3.7B (Q1 2026 — after rapid revenue conversion) | … | 3.6x |
| FLYNASDAQ | 🇺🇸United States | ~$5.2B | $159.9M (FY2025, +163% YoY) | — | … | 32.5x |
| LUNRNASDAQ | 🇺🇸United States | ~$5.1B | $210.1M | ~$943M (combined, post-Lanteris acquisition) | … | 24.3x |
| OHBFrankfurt (Prime Standard / XETRA) | 🇩🇪Germany | ~€5.0B (May 2026, share price ~€278) | €1.03B (FY2024); 9M 2025 revenue €863.5M (+21% YoY); FY2025 guidance ~€1.2B | ~€3.1B firm order backlog (9M 2025, +47% YoY); order intake ~€2.1B in 2025 (+24%) | … | 4.9x |
| ETLEuronext Paris / London Stock Exchange (dual-listed) | 🇫🇷France | ~€3.5B (May 2026, ETL.PA ~€2.96) | FY2024-25 revenue €1.24B (+1.6% LfL); LEO/OneWeb +84% YoY to ~15% of group; Q1 FY2025-26 €592M | Multi-year backlog supported by government services and IRIS² (€10.6B 12-year EU concession over consortium) | … | 1729249.0x |
| IRDMNASDAQ | 🇺🇸United States | ~$3.0B | $846M (FY2025); Q4 2025 $212.9M | — | … | 3.5x |
| RDWNYSE | 🇺🇸United States | ~$1.7B | $335.4M | $411.2M (record) | … | 5.1x |
| VSATNASDAQ | 🇺🇸United States | ~$1.2B | $4.52B (FY2025 fiscal year ended March 31, 2025; +6% YoY) | $3.7B+ (Defense & Advanced Technologies + Communication Services awarded backlog) | … | 0.3x |
| VOYGNYSE | 🇺🇸United States | ~$1.2B | ~$280M (FY2024, government services segment) | — | … | 4.3x |
| BKSYNYSE | 🇺🇸United States | ~$650M | $106.6M (FY2025, company record) | $345M (year-end 2025, +32% YoY) | … | 6.1x |
| TSATNASDAQ / TSX | 🇨🇦Canada | ~US$300M (depressed equity reflecting GEO decline and Lightspeed transition risk) | CAD $418M (FY2025; -27% YoY from FY2024) | GEO contract backlog declining with broadcast non-renewals; Lightspeed forward bookings limited until commercial service starts in 2028 | … | 0.7x |
| ISITel Aviv Stock Exchange (TASE) | 🇮🇱Israel | ~US$225M (~NIS 815M) | ~US$60.8M (TTM as of December 31, 2025; revenue grew from ~$27M in 2018 to ~$58M in 2024) | Multi-year EROS contracts — including $42M two-year agreement (May 2025), $37.5M five-year agreement (Q1 2024, with five-year extension option for additional $37.5M), and $9.1M Asian defense customer (November 2025) | … | 3.7x |
| SPCENYSE | 🇺🇸United States | ~$120M | ~$2M FY2025 (access fees only — no commercial flight revenue) | — | … | 60.0x |
Click column headers to sort. Live prices loading…
Your Space Watchlist
Market Size
$626B
Global (2025) — Space Foundation
By 2035
$1.8T
WEF / McKinsey est.
Growth
~9%
CAGR 2025–2035
Companies
66
29 public + 37 private
Data anchored to 2025 reports — Space Foundation, Novaspace (Euroconsult), WEF/McKinsey, U.S. Space Force FY2026, NASA OIG. Last reviewed: June 2026.
Revenue breakdown — 2025
$546B total (6 segments)
Sources: SIA · Novaspace · Bryce Tech
29%
31%
21%
12%
Ground Equipment $160B · 29%
Starlink, Kuiper, and direct-to-cell terminal shipments. 6% CAGR
Government Space (Civil + Defense + Intelligence) $170B · 31%
U.S. Space Force buildout, Golden Dome procurement, allied resilience constellations. 7% CAGR
Satellite Services $115B · 21%
Starlink (~7M subs at year-end 2025) and rival megaconstellations; direct-to-cell rollout. 9% CAGR
Emerging Commercial $63B · 12%
Polaris-class missions, Axiom / Vast station segments, on-orbit servicing demos, lunar CLPS economy. 17% CAGR
Satellite Manufacturing $28B · 5%
Mega-constellation production runs (Starlink V3, Kuiper, Guowang, SDA Tranche 3). 5% CAGR
Launch Services (Commercial) $10B · 2%
Constellation deployment demand; Vulcan and New Glenn ramping into NSSL Phase 2. 8% CAGR
Segments total $546B; Space Foundation reports $626B (Δ -12.8%). Proportions indexed forward from SIA State of the Satellite Industry Report 2024 (calendar 2023) using Novaspace segment-growth indices.
Global Space Directory
Space companies organized by region — click any company for a full profile
🌎
North America
22companies • 18 public + 4 private
Public Companies
AST
🇺🇸
AST SpaceMobile
ASTSNASDAQ
Direct-to-Cell Satellite
$70.9M (100% space-derived; FY2025 — first meaningful revenue year)
BS
🇺🇸
BlackSky Technology
BKSYNYSE
Geospatial Intelligence
100% space-derived ($106.6M FY2025); 2026 guidance $120M–$145M
BA
🇺🇸
Boeing
BANYSE
Aerospace & Human Spaceflight
$19.8B (BDS segment FY2025)
FF
🇺🇸
Firefly Aerospace
FLYNASDAQ
Launch & Lunar Landers
IM
🇺🇸
Intuitive Machines
LUNRNASDAQ
Lunar Landing
$210.1M (100% space-derived; FY2025)
IR
🇺🇸
Iridium Communications
IRDMNASDAQ
Satellite Communications
100% space-derived; service revenue ~$616M of FY2025 total; FY2026 guide +2-3% service revenue, $490-505M OEBITDA
KR
🇺🇸
Kratos Defense
KTOSNASDAQ
Ground Systems
Space, Satellite & Cyber segment ~$425M (~32% of $1.347B FY2025); growing with OpenSpace and SDA programs
L3H
🇺🇸
L3Harris Technologies
LHXNYSE
Defense Sensors
$6.9B (Space & Airborne Systems segment FY2025)
LM
🇺🇸
Lockheed Martin
LMTNYSE
Defense & Space Systems
$13.0B
MDA
🇨🇦
MDA Space
MDAToronto (TSX)
Space Robotics
CAD $1.63B (100% space-derived; FY2025 ended December 31, 2025; +51% YoY)
NG
🇺🇸
Northrop Grumman
NOCNYSE
Defense & Space Infrastructure
$10.8B
P
🇺🇸
Palantir Technologies
PLTRNASDAQ
Space AI & Analytics
Space-derived revenue is a subset of U.S. government segment (~$1.9B FY2025) — primarily Space Force AIP, Maven Smart System satellite imagery, and Golden Dome / NRO awards. Not separately disclosed; estimated $250-400M annual run rate
PL
🇺🇸
Planet Labs
PLNYSE
Earth Observation
$307.7M (100% space-derived; FY2026 = fiscal year ended January 31, 2026)
RL
🇺🇸
Rocket Lab
RKLBNASDAQ
Launch & Space Systems
$601.8M (100% space-derived; FY2025)
SX
🇺🇸
SpaceX
SPCXNasdaq
Launch & Satellite Internet
TS
🇨🇦
Telesat
TSATNASDAQ / TSX
Satellite Comms
CAD $418M (FY2025; 100% space-derived — entirely from GEO satellite services in transition)
VS
🇺🇸
Viasat Inc
VSATNASDAQ
Satellite Broadband
Communication Services ~$3.30B + Defense & Advanced Technologies ~$1.22B = ~$4.5B fully space-derived in FY2025
VG
🇺🇸
Virgin Galactic
SPCENYSE
Space Tourism
100% of revenue is space-derived (suborbital ticket access fees); commercial flight revenue targeted to begin Q4 2026
Private Companies
AX
🇺🇸
Axiom Space
United States • Est. 2016
Commercial Space Stations
~$2.5B+ (PitchBook estimate post-Feb 2026 round) · as of Feb 2026
BO
🇺🇸
Blue Origin
United States • Est. 2000
Launch & Lunar Landers
$50B–$100B (industry estimates; no external funding) · as of Dec 2025
RS
🇺🇸
Relativity Space
United States • Est. 2015
3D-Printed Rockets
~$4.2B (post Series-E, 2023 — STALE: predates Eric Schmidt's 2025 controlling-stake investment, terms undisclosed) · as of Dec 2023
SS
🇺🇸
Sierra Space
United States • Est. 2021
Space Planes & Habitats
$8B (post-money, Series C March 2026) · as of Mar 2026
🌏
Asia
10companies • 2 public + 8 private
Public Companies
AS
🇯🇵
Astroscale
186ATokyo Stock Exchange Growth Market
Debris Removal
100% space-related — debris removal demonstrations, ESA/JAXA contracts, in-orbit servicing R&D
iS
🇯🇵
ispace Inc
9348Tokyo Stock Exchange Growth Market
Lunar Landers
100% space-related — pre-commercial; ~$300M cumulative funding deployed against payload-delivery and data services
Private Companies
AG
🇮🇳
Agnikul Cosmos
India • Est. 2017
3D-Printed Rockets
$500M+ (Series C extension, post-money) · as of Nov 2025
DB
🇨🇳
Deep Blue Aerospace
China • Est. 2016
Reusable Launch
Not publicly disclosed; Series B-IV implied valuation roughly CNY 5–6B (~$700–850M) · as of Mar 2025
GE
🇨🇳
Galactic Energy
China • Est. 2018
Small Launch
~CNY 15B (~$2.1B) implied by Series D round (Sep 2025); pre-IPO counseling in progress · as of May 2026
LS
🇨🇳
LandSpace
China • Est. 2015
Launch (Methane Rockets)
~CNY 30B (~$4.1B) implied by July 2025 STAR Market IPO filing seeking CNY 7.5B raise · as of May 2026
PX
🇮🇳
Pixxel
India • Est. 2019
Hyperspectral EO
~$210M (Series B post-money, pre-2026 extension) · as of Dec 2024
SK
🇮🇳
Skyroot Aerospace
India • Est. 2018
Private Launch (India)
$1.1B (Series D unicorn round, post-money) · as of May 2026
SP
🇨🇳
Space Pioneer
China • Est. 2019
Medium-Lift Reusable
Implied ~CNY 25B+ (~$3.5B) post-money following combined Pre-D + D rounds (Oct 2025); IPO counseling rumored · as of May 2026
SIL
🇮🇱
SpaceIL
Israel • Est. 2011
Lunar Exploration
Nonprofit organization; not for profit (Israeli public benefit company / 501(c)(3)-equivalent) · as of May 2026
🌍
Europe
4companies • 1 public + 3 private
Private Companies
IA
🇩🇪
Isar Aerospace
Germany • Est. 2018
European Micro-Launch
Over €1B (unicorn status confirmed July 2025 following Eldridge €150M convertible bond) · as of Jul 2025
MY
🇩🇪
Mynaric
Germany • Est. 2009
Laser Comms
PLD
🇪🇸
PLD Space
Spain • Est. 2011
European Launch
Undisclosed (post-money post €180M Series C, Mar 2026) · as of Mar 2026
Browse by Sector
Launch Services
13 companies
Satellite Communications
6 companies
Earth Observation
3 companies
Defense & Intelligence
4 companies
Human Spaceflight
3 companies
Commercial Space Stations
2 companies
Lunar Exploration
5 companies
In-Orbit Services & Manufacturing
2 companies
Satellite Manufacturing
3 companies
Propulsion & Engines
3 companies
Space Science & Telescopes
0 companies
Space AI & Analytics
1 company
Government Space Spending
Top 5 spacefaring nations — total space budget
FY2025 vs FY2024
| Country | FY2025 Budget | YoY Δ |
|---|---|---|
| 🇺🇸United States | $81B | +1.6% |
| 🇨🇳China | $21B | +6.1% |
| 🇯🇵Japan | $6B | +8.9% |
| 🇫🇷France | $5B | +4.5% |
| 🇮🇳India | $2B | — |
Government space agencies & programs
15 entries · sortable
| 🇺🇸US Space Force | $26B base (FY2026) + $21.6B one-time Golden Dome reconciliation (~$40B total FY2026; label one-time) |
| 🇺🇸NASA | $24.8B (FY2026 enacted, PL 119-74); $18.8B FY2027 WH request (~-24%); House CJS marking ~flat $24.4B (rejecting cuts) |
| 🇺🇸NRO | Classified (~$20B+ estimated) |
| 🇨🇳CNSA (China) | $14–19B analyst estimates only — no official disclosure (LOW confidence, source: Statista) |
| 🇪🇺ESA | €7.4B/yr (2026–2028 avg; CM25 Ministerial, Bremen Nov 2025, subscribed €22.07B for 3 yrs, +32% vs 2022) |
| 🇯🇵JAXA (Japan) | Base ~¥154.8B (~$1.0B); Japan all-ministry total ~$3–4B (UNCONFIRMED); ¥1T Space Strategy Fund over 10 yrs |
| 🇷🇺Roscosmos (Russia) | ~$3.5B estimated |
| 🇫🇷CNES (France) | ~$3.1B (2025) |
| 🇩🇪DLR (Germany) | ~$2.4B (2025) |
| 🇬🇧UKSA (UK) | ~$800M (2025) |
| 🇰🇷KARI/KASA (South Korea) | ~$700M (2025) |
| 🇺🇸Space Development Agency | $648M (FY2026, 7 launches) |
| 🇺🇸DARPA (space) | ~$500M estimated |
| 🇦🇺ASA (Australia) | ~$350M (2025) |
| 🇮🇳ISRO (India) | ₹13,705.63 crore (~$1.58B, FY2026-27, +2.2% YoY, Union Budget 2026-02-01) |
Key Industry Trends
Launch cost deflation — Falcon 9 reusability drove $/kg to LEO from $54,500 (Shuttle) to ~$2,720
Mega-constellation buildout — Starlink (10,000+ sats), Amazon Kuiper (launching 2025–26), OneWeb
Proliferated military space — SDA's PWSA constellation replacing exquisite GEO assets with LEO mesh
Commercial lunar economy — NASA CLPS creating private lander industry (Intuitive Machines, Firefly)
Direct-to-cell satellite broadband — AST SpaceMobile, T-Mobile/SpaceX partnership
In-orbit servicing & manufacturing — Redwire, Varda Space, Astroscale
Space tourism maturation — Virgin Galactic Delta class, Blue Origin, SpaceX Polaris/Inspiration
Forward catalysts & expected dates
- 2026-04$7.8B FY2026 Artemis
Artemis II COMPLETED — first crewed flight beyond LEO since Apollo 17 (1972)
Mission success (Apr 1–10, 2026): Reid Wiseman, Victor Glover, Christina Koch, Jeremy Hansen traveled 695,081 miles and reached 252,756 miles from Earth. Validates SLS/Orion architecture and anchors the multi-year Artemis appropriations track toward Artemis III crewed landing.
- 2026-06-12$75B raise; ~$2.2T intraday market cap
SpaceX IPO (SPCX on Nasdaq) — $75B raised, largest IPO in history
Priced $135/share (2026-06-11), raised $75B (surpassing Saudi Aramco's 2019 record), opened $150, intraday ~$169 (~$2.2T implied cap). Creates price-discovery benchmark for all space equities; sector re-rating expected as institutional allocation to space increases. Lock-up expiry ~Dec 2026 (standard 180-day assumption).
- 2026-12
SPCX post-IPO lock-up expiry (~Dec 2026) — insider float unlocks
Standard 180-day lock-up from June 12, 2026 listing expires around December 2026. Insider and early-investor selling pressure may create volatility; also marks the first test of sustained public-market demand at the $2T+ valuation.
- 2026-H2
Starship IFT-13+ — targeting first orbital payload deployment
IFT-12 (May 2026) flew the v3 Starship but failed to reach orbit; IFT-13 targets the first actual payload-to-orbit insertion. Success would unlock SpaceX's $/kg cost curve at scale and validate Starlink V3 megasat deployment architecture.
- 2026-H2
Intuitive Machines IM-3 — multiple NASA CLPS payloads to Moon
NET H2 2026. Continues to build out the commercial lunar lander industry under NASA's CLPS program, sustaining Intuitive Machines' revenue and cementing the private lunar economy.
- 2026-H2
Gaganyaan G2 — India's first crewed spaceflight (3 astronauts, 3-day orbital)
NET H2 2026. Makes India the 4th country to independently send humans to space, unlocking sovereign crewed capability and a significant ISRO budget catalyst.
- 2026-H2
Blue Origin New Glenn return-to-flight after May 2026 pad explosion
Blue Origin CEO David Limp committed to return-to-flight before end of 2026 using spare vehicles (pad repairs expected to take over a year). Success re-establishes a second commercial heavy-lift option for Amazon Kuiper and national-security manifests.
- 2026-10-01
NASA FY2027 appropriations fight — House ~flat ($24.4B) vs WH -24% ($18.8B) request
FY2027 starts Oct 1, 2026. The White House requested $18.8B (~-24% cut from $24.8B FY2026 enacted); House CJS committee is marking up ~$24.4B (rejecting the cuts). Resolution determines Artemis IV, science missions, CLPS cadence. A continuing resolution risks slow-rolling contracts.
- 2027-Q1$11.6B
Amazon–Globalstar close (~early 2027, $11.6B) — Amazon seizes satellite spectrum
Amazon's $11.6B acquisition of Globalstar (signed 2026-Q1) is expected to close early 2027 pending regulatory review. Gives Amazon LEO/MSS spectrum and ground infrastructure — substantially expands the competitive threat to SpaceX Starlink.
- 2025-12$3.5B
SDA Tranche 3 contracts ($3.5B) awarded
Tracking + Transport Layer satellites for missile warning and tactical comms. Multi-year revenue visibility: L3Harris $843M, LMT $1.1B, NOC $764M, RKLB $805M (18 sats each).
- 2026-2030$415M+ NASA awards to date
Commercial LEO Destinations ramp
ISS retirement (~2030) forces NASA to underwrite commercial successors. Axiom, Vast, Voyager Starlab, and Orbital Reef are racing for the first segment-launch contracts.
Private investment — last 6 quarters
$16.2B TTM (2025-Q2 → 2026-Q1) · 323 rounds
Source: Space Capital SIQ
2024-Q4
$2.9B
2025-Q1
$4.2B
2025-Q2
$3.4B
2025-Q3
$3.8B
2025-Q4
$4.9B
2026-Q1
$4.1B
Top rounds — 2026-Q1
- SpaceXTender · led by secondary$1.5B
- Vast SpaceSeries C · led by Jed McCaleb$260M
- True AnomalySeries C · led by Riot Ventures$200M
Quantified risks & exposure
Orbital debris / Kessler syndrome
High36,000+ tracked objects > 10cm; 1M+ untracked > 1cm
Megaconstellation buildout accelerates collision risk; a single Kessler-cascade event could render LEO uneconomic for decades.
SpaceX dominance — pricing pressure + post-IPO single-stock concentration
High50.8% of global orbital launches and >80% of mass-to-orbit in 2025 (BryceTech Year in Review, Apr 2026); SPCX now ~$2.2T market cap as of 2026-06-12 IPO
Falcon 9 cadence sets the market clearing price for medium-lift; competitors must subsidize launch costs out of equity or higher-margin services. Post-IPO, index inclusion and institutional allocation to SPCX could crowd out other space equities; single-stock concentration in space ETFs becomes a risk factor.
Government budget sequestration — NASA FY2027 -24% cut request
HighNASA FY2027 WH request $18.8B (~-24% from $24.8B FY2026 enacted); House CJS at ~$24.4B; US Space Force $26B base + $21.6B one-time Golden Dome reconciliation (~$40B total FY2026)
If the WH's -24% NASA cut prevails, Artemis, SDA Tranche 3, and Commercial LEO funding face multi-quarter slippage. A continuing resolution (CR) freezes new contract starts. House pushback reduces — but does not eliminate — the risk; resolution expected by Oct 1, 2026 (FY2027 start). Sources: https://www.nasa.gov/fy-2026-budget-request/ and https://spacepolicyonline.com/news/house-appropriators-poised-to-reject-proposed-nasa-budget-cuts/
FAA / regulatory bottleneck
Medium~12 month average Starship launch-license iteration since 2023
Mishap reports, environmental reviews, and operational-area expansion all gate launch cadence. Multi-quarter slippage compounds across the manifest.
Most exposed:RKLBGeopolitical — China rapid expansion + ITAR friction
MediumChina launches 70+/year; Guowang + Qianfan targeting 13,000+ sats long-term
Bifurcation of the launch + constellation market. ITAR restricts allied space-industrial integration with non-Five-Eyes partners.
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