Photonics is poised to play a critical role in accelerating AI and space commercialization, particularly as businesses seek high-bandwidth data transmission solutions. By 2026, data centers are expected to be the primary driver of growth as they grapple with the limitations of traditional copper wiring.
Aeluma (NASDAQ: ALMU) is leading advancements in this field, securing over $4 million in government contracts, including funding from NASA, to enhance its compound semiconductor technologies and quantum dot lasers. Revenue growth is anticipated starting late 2023, with significant gains projected for 2028. The company’s integration platform aims to revolutionize the photonics market.
Coherent Corp. (NYSE: COHR) and Lumentum (NASDAQ: LITE) are also key players, leveraging photonics to meet demands in AI and aerospace, while targeting revenue accelerations of up to 90% in fiscal Q3 2026. Meanwhile, nLIGHT (NASDAQ: LASR) focuses on defense applications, with significant growth expected as space-related defense needs escalate. Analyst sentiment for these companies reflects robust market positivity, signaling a potential quadruple-digit rise in stock prices as of mid-2026.
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