Space increasingly looks set to live up to the hype as the next frontier for humankind. Research from Morgan Stanley estimates that the global space economy will roughly triple to over $1 trillion by 2040. Much of that will come from satellites launched for various communications technologies, such as the internet and consumer broadband.
It could be wise for investors to allocate capital to some of the early winners that have emerged as favorites to capitalize on these opportunities over the coming decades. Forever is a long time, but since space stocks could remain relevant for the foreseeable future, investors can view these three buy-and-hold candidates as speculative growth stocks with significant upside potential.
Image source: The Motley Fool.
1. Rocket Lab
The space economy is growing one launch at a time. Rocket Lab (RKLB +5.52%) is an end-to-end space services company that provides launch services, spacecraft, satellites, and on-orbit management solutions. It currently specializes in small-payload launch services, with nearly 100 successful launches to date. Additionally, Rocket Lab is developing Neutron, a reusable medium-lift rocket, which would further expand its addressable market.
Today’s Change
(5.52%) $7.03
Current Price
$134.34
Key Data Points
Market Cap
$78B
Day’s Range
$124.22 – $135.30
52wk Range
$23.92 – $138.38
Volume
9.3K
Avg Vol
24M
Gross Margin
33.77%
Rocket Lab is rapidly growing. The company’s revenue increased from $436 million in 2024 to $601 million in 2025, and analysts project revenue to grow to $909 million this year and to $1.2 billion next year.
Rocket Lab’s backlog continues to grow, with a record 36 new launch missions booked in the first quarter of 2026. Investors may also appreciate that Rocket Lab is winning contracts from both government and commercial customers.
The biggest downside to Rocket Lab stock is a lofty valuation. Shares trade at a market cap of $72 billion today, more than 70 times this year’s revenue estimates. It’s likely wise to hold some cash in case the stock pulls back. Otherwise, Rocket Lab seems poised to play a pivotal role in the space economy once Neutron begins and scales commercial launches.
2. AST SpaceMobile
Communications are likely to remain a key cog of the space economy. AST SpaceMobile (ASTS +1.68%) is building one of the first space-based broadband cellular networks. Its satellite constellation can deliver service to various areas of the world, where traditional cell towers cannot. That’s an especially large opportunity in emerging markets, where infrastructure simply isn’t as well developed as in the United States and similar countries.
Today’s Change
(1.68%) $1.48
Current Price
$89.58
Key Data Points
Market Cap
$27B
Day’s Range
$86.49 – $92.57
52wk Range
$22.47 – $129.89
Volume
217K
Avg Vol
16M
Gross Margin
-22429.27%
AST SpaceMobile is still in the early stages of building this network. The company has over 650 Micron modular antennas in orbit today and has begun launching satellites, aiming to reach 45 by the end of this year.
Meanwhile, there is plenty of demand for space-based broadband. AST SpaceMobile has partnered with roughly 60 companies. Analysts anticipate revenue soaring from roughly $85 million over the past four quarters to over $734 million in fiscal year 2027.
Similar to Rocket Lab, investor excitement for space has boosted the stock’s valuation. AST SpaceMobile currently has a market cap of $33 billion, valuing the stock at roughly 45 times next year’s revenue estimates. Stock valuations matter a little less when you’re buying to hold indefinitely, but again, it wouldn’t be a bad idea to leave some cash for when these promising but speculative stocks pull back.
3. SpaceX
It’s hard to leave SpaceX out of any conversation about space. SpaceX is the world’s leading rocket launch services company and also operates Starlink, a global satellite internet service.
The thing with SpaceX stock is that it’s not publicly traded yet. However, that will soon change. The company reportedly confidentially filed for an IPO in April, which paves the way for SpaceX to go public within the coming weeks.
With all the excitement around space and Elon Musk’s companies, SpaceX could be the largest IPO of all time. Some speculate that SpaceX could IPO at a valuation of roughly $1.75 trillion. SpaceX is arguably the most mature space company, with an estimated $15 billion to $16 billion in total revenue last year.
That said, SpaceX would be very expensive if it were to go public at a valuation anywhere near $1.75 trillion. Investors may want to wait for some of the hype to die down before buying, but make no mistake: SpaceX is a growth stock investors will want to buy and hold for the long haul.