Lockheed Martin just reported a record US$292b order backlog as governments focus heavily on missile defense and advanced aircraft. That same focus on space hardware, communications and surveillance is creating a crowded new race for orbital infrastructure. Investors considering the next wave of defence and aerospace spending have an opportunity to participate at an early stage. This article walks through three of the most interesting stocks from our global space race shortlist.
The three stocks covered below are only a starter pack for this global space race theme. The full screen surfaced 20 more listed players with equally compelling stories that are not featured in this article. To go straight to the source and identify your own highest conviction angles, head into the Global Space Race Stocks screener.
Arxis (ARXS)
Arxis designs electronic and mechanical components for mission critical uses, with its space link coming from RF, microwave and packaging hardware inside satellites, launch vehicles and avionics. The Electronic Components unit generated about US$773 million, Mechanical Components about US$997 million, and the stock carries a roughly US$22.5b market value.
Arxis provides direct exposure to core technologies in the space sector, supplying RF, microwave and sensor hardware that defence primes use in satellite constellations and launch avionics. Forecast double digit earnings growth is tied to that demand, although a rich 12.6x P/S depends on how one unresolved pressure influences future pricing power.
That pressure is exactly what makes the 3 key rewards and 1 important warning sign worth a closer look to see what might be masking or magnifying Arxis pricing power over the next phase.
Rocket Lab (RKLB)
Rocket Lab is one of the purest plays on the Global Space Race theme, running the Electron small launch rocket while building the larger Neutron vehicle. It currently has about US$544 million from Space Systems, US$225 million from Launch Services, and a roughly US$32.1b market value.
For investors looking at the backbone of the space economy, Rocket Lab offers a rare combination of active launch capability and growing on-orbit services. These could matter significantly more if current projects stay on track.
"Rocket Lab must get its newest rocket, Neutron, operating in a similar low cost manner, to fend off competition, while maintaining high reliability to capture more of the faster growing, higher margin, Space Systems segment."
The real test comes when one tightly watched milestone either supports those future margins or forces a rethink of the whole growth path.
If that inflection point matters to your thesis, read the full narrative for Rocket Lab to see how Neutron risk, margins and launch cadence could be accelerating or stalling upside.
Boeing (BA)
Boeing is a global aerospace group that sells commercial jetliners, defense aircraft and space systems, with the Defense, Space & Security arm tying it directly into the space race through satellites, launch hardware and missile defense. Commercial Airplanes generated about US$43.4b, Defense, Space & Security about US$29.4b, and Global Services about US$21.3b, while the stock carries roughly a US$150.5b market value.
For the Global Space Race theme, Boeing matters because its Defense, Space & Security franchise builds the kind of orbital hardware and missile-defense infrastructure that sits behind government contracts measured in decades rather than quarters, alongside a commercial jet business that funds that long-haul work.
"Any single programme charge above $1 billion in a quarter through 2027. Full year 2026 free cash flow landing below the $1 billion guidance floor, which requires a large second half swing from a negative first."
The real tension for Boeing is what happens to those long-cycle margins if one unseen pressure inside its backlog-heavy programs breaks at the wrong time.
When that pressure finally shows up in the numbers, the full narrative for Boeing maps out where Boeing risk is decoupling from opportunity and what could accelerate the recovery story.
Seeking Fresh Alternatives Beyond Space?
Fresh themes move first. Once momentum hits, ideal entry points get caught in the rush and pricing power drops fast. Scan the next wave while it matters, and look for opportunities early.
- Focus on durable cash flows while income investors overlook a curated group of high-yield payers through the 7 dividend fortresses before the search for defensive income becomes more widespread.
- Identify under the radar compounders early by running the list of solid balance sheet and fundamentals (25 results) and concentrating on businesses with cleaner accounts before quality is fully reflected in valuations.
- Monitor the next potential capacity shift by checking the 42 power grid technology and infrastructure stocks and tracking infrastructure enablers well before grid updates become prominent in news coverage.
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