Launch & Space
Launch · satellites · defense-space primes · eVTOL
The space economy across four sub-themes — launch & infrastructure, satellites & direct-to-device, defense-space primes, and eVTOL air mobility. The defense primes are the quality anchors; many new-space names are recent IPOs or pre-revenue (flagged). Curated structure; live delayed prices. Not investment advice.
Launch & Space Infrastructure
Getting mass to orbit + the in-space infrastructure to use it. Several names IPO'd in 2025 with short trading histories — higher risk.
Most diversified small/mid-cap space pure-play: launch + satellite systems + defense.
Lunar landers + NASA/defense backlog; closest to profitability among new-space names (execution risk).
Launch + lunar; IPO'd Aug 2025, large backlog but very short trading history.
Starlab commercial space station + in-space infrastructure; IPO'd Jun 2025, pre-scale.
Payload/propulsion systems for missiles + launch; IPO'd Feb 2025.
Satellites & Direct-to-Device
Earth-observation data + satellite-to-phone connectivity. Big TAMs, but some are binary on technical execution.
Direct satellite-to-standard-smartphone connectivity; binary but enormous TAM if it scales.
Large Earth-observation fleet with recurring data revenue + growing backlog — the space-data anchor.
Satellite connectivity with a large anchor-customer (Apple emergency SOS) relationship.
Defense-Space Primes
The quality anchors: profitable defense primes with major space + missile-defense exposure, dividends, lower beta.
Defense prime with major space + missile-defense exposure; quality anchor with a dividend.
Defense prime (missiles/sensors/space sensors); diversified aerospace-defense anchor.
Space systems + strategic missile/defense prime; strong space-segment exposure.
Space sensors/electronics + defense tech; higher-margin electronics tilt vs pure primes.
Drones, hypersonics propulsion, satcom; revenue inflection expected (higher-growth tilt).
Government IT/services supporting space (ground systems, mission software) for NASA/Space Force.
eVTOL — Advanced Air Mobility
Electric vertical-takeoff aircraft. Both leaders are pre-commercial-revenue and certification-gated — speculative.
Curated structure · live delayed prices from public data · for reference only · not investment advice