Key Points
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Rocket Lab has emerged as a competitor to SpaceX and has a growing space systems business.
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Planet Labs is leveraging artificial intelligence to help customers gain more insights from its Earth-imaging technology.
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Lockheed Martin is a top defense contractor and the prime contractor for NASA’s Orion spacecraft.
The global space economy is projected to reach $1.8 trillion by 2035, up from $613 billion in 2025, representing a compound annual growth rate of over 11%, according to McKinsey estimates. As commercial advancements in launch services, satellites, and imagery proliferate, companies like Rocket Lab, Planet Labs, and Lockheed Martin are positioning themselves as key players in this booming sector.
Rocket Lab (NASDAQ: RKLB) is the second-most-used space launch company in the U.S., completing 85 launches to date. Its space systems business generated $403 million in revenue at the end of last year and constitutes 75% of its $1.85 billion backlog. Planet Labs (NYSE: PL) operates the world’s largest fleet of Earth-imaging satellites, focusing on AI-enhanced insights for commercial and government clients. Lockheed Martin (NYSE: LMT) is a top defense contractor with a $194 billion backlog, serving as the prime contractor for NASA’s Orion spacecraft and involved in multiple government projects.
