The $1.75 trillion SpaceX IPO has brought space stocks into focus in recent months. As a result of this IPO – which is set to be the largest in history – investors have suddenly become aware of the enormous opportunity associated with space.
But what are the best stocks for exposure to the space theme in 2026? Let’s take a look at some options outside SpaceX.
Amazon
One blue-chip, large-cap stock that offers exposure to Space is Amazon (AMZN:NASDAQ). In recent years, it has been quietly building a massive space satellite network (Amazon Leo).
In its most recent letter to investors, Amazon said that over the last seven years, it has put more than 200 satellites into space (making it the third-largest low Earth orbit network in operation today behind SpaceX and Eutelsat OneWeb). It added that in the years ahead it plans to launch thousands more.
It’s worth noting that while Amazon Leo hasn’t officially launched yet, the company already has ’meaningful’ revenue commitments from enterprises and governments, which is encouraging. Some customers include Delta Airlines, NASA, and Vodafone.
So, there’s a lot to be excited about. Given that most investors haven’t spotted the space opportunity here yet, the stock – which trades on a P/E ratio of less than 30 – could be worth a closer look.
Rocket Lab
Those seeking a more direct play on the space theme may want to look at Rocket Lab (RKLB:NASDAQ). This is an end-to-end space systems company that offers everything from satellites and spacecraft components to launch services, and it could become a major competitor to SpaceX in the future.
What makes Rocket Lab unique is its two-pronged business model. Not only is it a major player in rocket launches (it has done around 90 orbital launches to date) but it is also an important player in the space supply chain, having acquired a number of satellite component companies.
Now, this company is growing quickly. This year, revenue is projected to hit $916 million, up from $245 million in 2023.
On the downside, however, it’s not profitable, so it is higher up on the risk spectrum. A forward-looking price-to-sales ratio of around 70 also adds risk to the investment case.
Planet Labs
Another direct play on space is Planet Labs (PL:NASDAQ). It operates one of the largest commercial fleets of Earth-observation satellites.
Its goal is to image the Earth on a daily basis and make change visible, accessible, and actionable. Currently, it has around 200 satellites in orbit, collecting over 350m sq km of imagery every day (which is used by businesses, governments, and research institutions).
This is another space company that is growing rapidly. This financial year, revenues are expected to come in at around $430 million, up from $221 million three years earlier.
Like Rocket Lab, however, there are no profits and the company is trading at a high price-to-sales ratio (around 35). So, it’s risky from an investment perspective.
Filtronic
Those looking for a UK space stock may want to take a look at Filtronic (FTC:LON). It specialises in wireless communication solutions and has been having success providing E-band Solid State Power Amplifiers (SSPAs) and E-band Gan products to SpaceX.
It’s not just a play on SpaceX, however. Recently, the company has been winning satellite-related contracts with global defence firms.
One attraction of this stock is that the company is profitable. So, it’s a little less speculative than some of the other space stocks in the market.
The downside, however, is that it has had a big run up in recent months on the back of excitement over the space theme and now looks a little expensive (the P/E ratio is in the 80s). So, it could be one to consider buying on the dip.
Seraphim Space Investment Trust
Finally, if an investor was looking for a more diversified play on space, the Seraphim Space Investment Trust (SSIT:LON) could be worth checking out. It invests in early and growth stage (mostly unlisted) space technology companies that are trying to solve challenges associated with communications, climate change, mobility, and global security.
Currently, it offers exposure to around 10 different SpaceTech companies. Some names in the portfolio worth highlighting include ICEYE, a satellite company that offers persistent, real-time Earth observation for 24/7 tactical decision-making in any condition/weather, D-Orbit, a market leader in space logistics and transportation, and HawkEye 360, which provides space-based radio frequency (RF) intelligence, enabling defence and intelligence customers to detect and geolocate signals from sources such as radars and communications systems.
Now, while the diversified portfolio here reduces risk for investors, it needs to be stressed that risk here is still high. Not only is the trust invested in early stage companies but it is also heavily allocated to ICEYE.
It has the potential to play a valuable role in a well-diversified investment portfolio, however. Given its niche focus, it could be an interesting ‘satellite’ holding in a core-satellite portfolio, complementing more mainstream investments such as index funds.
Edward Sheldon owns shares in Amazon
Based in London, Edward is a distinguished investment writer with an extensive client portfolio comprising a diverse array of prominent financial services firms across the globe. With over 15 years of hands-on experience in private wealth management and institutional asset management, both in the UK and Australia, he possesses a profound understanding of the finance industry.
Before establishing himself as a writer, Edward earned a Commerce degree from the prestigious University of Melbourne. Complementing his academic background, he holds the esteemed Investment Management Certificate (IMC) and is a proud holder of the Chartered Financial Analyst (CFA) qualification.
Widely recognised as a sought-after investment expert, Edward’s insightful perspectives and analyses have been featured on sites such as BlackRock, Credit Suisse, WisdomTree, Motley Fool, eToro, and CMC Markets, among others.
