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RKLB

Rocket Lab Corp Price

RKLB
$69,61
+$2,09(+%3,09)

*Data last updated: 2026-04-07 23:06 (UTC+8)

As of 2026-04-07 23:06, Rocket Lab Corp (RKLB) is priced at $69,61, with a total market cap of $37,76B, a P/E ratio of -186,76, and a dividend yield of %0,00. Today, the stock price fluctuated between $63,96 and $70,69. The current price is %8,83 above the day's low and %1,52 below the day's high, with a trading volume of 23,75M. Over the past 52 weeks, RKLB has traded between $56,14 to $70,42, and the current price is -%1,15 away from the 52-week high.

RKLB Key Stats

Yesterday's Close$67,67
Market Cap$37,76B
Volume23,75M
P/E Ratio-186,76
Dividend Yield (TTM)%0,00
Diluted EPS (TTM)0,35
Net Income (FY)-$198,20M
Revenue (FY)$601,79M
Earnings Date2026-05-14
EPS Estimate0,04
Revenue Estimate$190,99M
Shares Outstanding558,04M
Beta (1Y)2.205

About RKLB

Rocket Lab USA, Inc., a space company, provides launch services and space systems solutions for the space and defense industries. The company provides launch services, spacecraft engineering and design services, spacecraft components, spacecraft manufacturing, and other spacecraft and on-orbit management solutions; and constellation management services, as well as designs and manufactures small and medium-class rockets. It also designs, manufactures, and sells Electron small orbital launch vehicles and the Photon satellite platforms, as well as developing the Neutron 8-ton payload class launch vehicle; conducts remote launch activities; and designs and manufactures a range of components and subsystems for the Photon family of spacecraft and broader merchant spacecraft components. The company serves commercial, aerospace prime contractors, and government customers. The company was founded in 2006 and is headquartered in Long Beach, California.
SectorIndustrials
IndustryAerospace & Defense
CEOSir Peter Beck
HeadquartersLong Beach,CA,US
Official Websitehttps://www.rocketlabusa.com
Employees (FY)2,60K
Average Revenue (1Y)$231,46K
Net Income per Employee-$76,23K

Rocket Lab Corp (RKLB) FAQ

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Rocket Lab Corp (RKLB) is currently trading at $69,61, with a 24h change of +%3,09. The 52-week trading range is $56,14–$70,42.

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Hot Posts About Rocket Lab Corp (RKLB)

FomoAnxiety

FomoAnxiety

13 hours ago
Shares of Rocket Lab RKLB -0.09% ▼ rose about 2% in pre-market trading on Tuesday after top Citizens analyst Trevor J. Walsh upgraded the stock from Market Perform to Market Outperform (equivalent to Buy). The five-star analyst maintained his price target of $85, pointing to 25% upside potential from current levels. ### Easter Sale - 70% Off TipRanks * Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions * Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks Walsh said Rocket Lab’s growing role across launch services, defense space systems, and space services is improving its risk-reward profile. He also noted that strong funding and geopolitical support are helping drive the stock drive higher. **What Is Driving the Bullish View?** ------------------------------------- Rocket Lab stock is down about 3% year to date, and Walsh sees this as a good “entry point.” He highlighted several factors that could support Rocket Lab’s growth going forward. First, the company is building a more diversified business. It is moving beyond rocket launches into defense and space services, which can bring higher margins and more steady growth. Second, industry trends are turning positive, which directly benefits Rocket Lab. Rising geopolitical tensions and higher defense spending are expected to increase demand for space and defense services, where the company is expanding its presence. The proposed U.S. budget includes about $88.5 billion for space, with a sharp rise in Space Force funding, creating more opportunities for Rocket Lab to win contracts. Third, the expected SpaceX IPO is drawing fresh interest to the sector. Citizens believes this could lead investors to take a closer look at Rocket Lab and its growth potential. For context, SpaceX has reportedly filed for an IPO, targeting a valuation of around $2 trillion and could raise up to $75 billion. If timelines hold, the IPO may take place as early as June 2026, potentially making it one of the biggest listings in history. **Is RKLB a Buy, Sell, or Hold?**  ---------------------------------- Currently, Wall Street has a Moderate Buy consensus rating on Rocket Lab stock based on ten Buys and five Holds. The average RKLB stock price target of $86.77 indicates about 28.22% upside potential. Disclaimer & DisclosureReport an Issue
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MaticHoleFiller

MaticHoleFiller

19 hours ago
> 　　If you want to trade stocks, rely on Golden Unicorn analysts’ research reports—authoritative, professional, timely, and comprehensive. Help you uncover high-potential themes and opportunities! 　　CITIC Construction Investment Securities Research 　　The future of commercial aerospace is the stars and the sea. Both China and the U.S. place commercial aerospace at an extremely high strategic level. The “Fifth Fifteen” first proposed a “space power,” and subsequent policy implementation details have been released in a dense stream. Support for the development of the commercial aerospace industry comes from both industry and capital, and the industry is now entering the fast lane. 　　Subsequent catalysts are coming in close succession. With the market’s risk appetite recovering, we expect the commercial aerospace sector to perform strongly afterward. CITIC Construction Investment Securities’ defense and new materials team, along with its computer team, has released 【Investment Opportunities Outlook for the Commercial Aerospace Industry】: 　　Commercial Aerospace 2026 Investment Strategy: The Stars and the Sea—The Turning Point Has Arrived 　　Outlook on Ten Major Industrial Trends in Commercial Aerospace 　　The “Fifth Fifteen” plan calls for developing the aerospace industry—watch for opportunities in military-to-civilian investments 　　Policy support for AI + aerospace; GTC is about to convene 　　Global commercial aerospace activities in 2025 hit new highs again—focus on satellite internet and reusable rocket investment opportunities 　　Commercial aerospace series report 3: Satellite communications are expected to accelerate development 　　Commercial aerospace series report 2: Taking a panoramic look at the path of overseas commercial aerospace development 　　Commercial aerospace in-depth report 1: The stars as the road—leading a new era 　　01 Commercial Aerospace 2026 Investment Strategy: The Stars and the Sea—The Turning Point Has Arrived 　　The future of commercial aerospace is the stars and the sea; both China and the U.S. place commercial aerospace at an extremely high strategic level. SpaceX leads in areas such as constellation deployment progress, rocket payload capacity and costs, and the scale of revenue and valuation. Driven by the strategic value of occupying frequency and secure orbits and the commercial value of operational services, China’s policies support the development of commercial aerospace from both the industrial side and the capital markets side. Domestic development is showing an accelerating catch-up trend: large reusable rockets have begun to fly frequently for the first time. This is expected to gradually break through core industrial bottlenecks and speed up the industry’s full-cycle closure for commercial aerospace. We look favorably on the subsequent performance of the commercial aerospace sector. In the satellite segment, focus on payload configuration, antennas and supporting components, laser communication terminals and supporting components, and solar wings and energy systems. In the rocket segment, focus on engines and their 3D printing, as well as payload fairing and related airframe structural components. In the ground equipment segment, focus on civilian terminals and direct smartphone connectivity. In the operations and services segment, focus on companies with scarce qualifications. 　　1．In terms of strategic significance, both China and the U.S. have elevated commercial aerospace to a very high strategic priority. Currently, China’s core focus in developing commercial aerospace is securing frequency and protecting orbits. The U.S. proposed “ensuring space superiority.” With SpaceX’s Starship progress going smoothly and Blue Origin’s New Glenn rocket recovery success, China’s demand for “frequency and orbit” for constellations has become even more urgent. The “Fifth Fifteen” first proposed a “space power,” and subsequent policy implementation details have been released in a dense stream. Support for the development of the commercial aerospace industry comes from both industry and the capital markets, bringing the industry into the fast lane. 　　2．In terms of commercial value, the space for commercial aerospace is the stars and the sea. In the satellite manufacturing stage, the construction of large constellations made up of tens of thousands of satellites and the continuing demand for adding satellites to expand coverage bring a market scale in the hundreds of billions. Space data centers further open up imagination space. In the rocket launch stage, besides satellite launch demand, as rocket payload capacity increases and launch costs fall, activities such as space tourism, global rapid transportation, space biology experiments, and resource development and utilization will be carried out in an orderly way. In the ground equipment and operations services stages, demands such as satellite internet operations services and direct connections from various terminals to satellites create a market space in the trillions. 　　3．In terms of valuation benchmarking, SpaceX is expected to list in 2026, targeting a valuation of $1.25 trillion. ASTS and RKLB valuations exceed $30 billion. The sum of valuations of U.S.-related commercial aerospace companies far exceeds the market value of relevant listed companies in China. With domestic policy support enabling commercial aerospace companies to go overseas, China is expected to capture a larger share of the global market in the future. Market growth potential is strong, and companies have significant room for valuation growth. 　　4．In terms of industrial progress, China’s key rocket bottleneck is being continuously broken through. The first flights and successful orbit insertion of the Zhaque-3 and the Long March 12A have been achieved. The recovery of the first stage has made a major breakthrough. The successful ocean splashdown of the Long March 11 second stage has been completed. The Long March 2A with Li Jian-2’s first flight has successfully inserted into orbit. In 2026, multiple large liquid rockets by private companies and institutes benchmarking Falcon 9 are expected to carry out frequent first flights as well as recovery tests. Launch pads will be continuously expanded, the turnaround cycle will be significantly shortened, and the industry bottlenecks are expected to be gradually resolved. In the medium and short term, China’s constellation construction will be greatly accelerated; in the long run, it will also drive a boom in applications such as space tourism and space transportation. 　　5．In terms of subsequent catalysts, China and the U.S. are resonating, with dense industry catalysts both at home and abroad. China’s multi-model launch vehicles will continue to carry out first flights and recovery tests. This year, it is expected to achieve rocket recovery. The IPO process for commercial rocket companies will be steadily promoted, and top companies are expected to list within the year. The Starship V3 version is expected to start test flights, and SpaceX is expected to list within the year. 　　Investment recommendation: Recently, the commercial aerospace sector has experienced a sizable pullback due to factors such as some rocket launch failures/delays and changes in market risk appetite. As of 2026.3.30, the average pullback exceeds 30%. With dense subsequent catalysts, as the market risk appetite recovers, we expect the commercial aerospace sector’s performance afterward to be favorable. In the satellite segment, focus on payload configuration, antennas and supporting components, laser communication terminals and supporting components, and solar wings and energy systems. In the rocket segment, focus on engines and their 3D printing, as well as airframe structural components. In the ground equipment segment, focus on civilian terminals and direct smartphone connectivity. In the operations services segment, focus on companies with scarce qualifications. 　　Risk warning: 1．Satellite internet construction falls short of expectations. The satellite internet industry is a strategic emerging industry strongly supported by the nation. As the satellite internet industry develops, the country may introduce new policies and regulations to standardize and guide healthy industry development. Changes to these policies and regulations may affect industry production and operations and investment decision-making. 2．Technology breakthroughs fall short of expectations. Although China has achieved a series of progress in satellite internet, compared with the world’s most advanced level, there is still a certain technology gap. In particular, insufficient breakthroughs in core technologies such as one rocket to multiple satellites, rocket recovery and reuse, and low-cost manufacturing remain the main bottlenecks constraining rapid industry development. 3．Competition for spectrum and space resources intensifies. With the rapid increase in the number of low-orbit satellites, competition for spectrum and orbital resources will intensify further. Coordinating and securing more spectrum and orbital resources internationally to ensure the stable operation of China’s satellite internet system is a long-term and complex challenge. 4．The IPO timelines for relevant companies fall short of expectations. The domestic leading commercial rocket companies and overseas SpaceX IPO progress are influenced by multiple factors, and there may be uncertainty regarding timing milestones, which creates the possibility that progress will fall short of expectations. 　　Report source 　　Name of securities research report: 《Commercial Aerospace 2026 Investment Strategy: The Stars and the Sea—The Turning Point Has Arrived》 　　Externally released on: March 31, 2026 　　Report issuing institution: CITIC Construction Investment Securities Co., Ltd.  　　Research analyst for this report:  　　Ren Hongdao SAC No.: S1440523050002 　　Wang Zhengxin SAC No.: S1440525040001 　　02 Outlook on Ten Major Industrial Trends in Commercial Aerospace 　　Global commercial aerospace has entered a new stage led by large-scale deployments and ecosystem building. The dual-polar landscape of China and the U.S. leads the development process. U.S. companies represented by SpaceX have established global benchmarks for commercial and technical capabilities through reusable rockets and mega constellations. China drives structural leapfrogging by fully empowering the industry through policies and “breaking the ice” in the capital system (e.g., the Fifth Set of standards for the STAR Market). The overall valuation has crossed the trillion-level threshold. Competition has now shifted from single-technology breakthroughs to an all-around contest involving engineering of reusable rockets, industrialization of satellite manufacturing, and commercialization of integrated space-ground operations. With efficient collaboration between state-owned central enterprises and private enterprises along the industrial chain, the industry is accelerating its bid to secure frequency-orbit resources and win the right to speak in the all-space-and-ground integrated standards of the 6G era. In the future, industry boundaries will expand into diverse tracks such as space computing power and tourism, indicating that commercial aerospace is transitioning from a national engineering effort to a critical ecosystem driving future economic growth and strategic competition. 　　1．The policy framework continues to improve: 2025 is a key year for the maturation of China’s commercial aerospace policy framework. The National Space Administration establishes a Commercial Aerospace Division and issues a special action plan, marking a new stage in industry supervision moving from “encouraging exploration” to “systematic governance and specialized standardization.” This provides clear guidance for the landing of core technologies and applications. 　　2．A new capital era and IPO breakthroughs: The Shanghai Stock Exchange issued special guidance, opening an IPO pathway for commercial rocket companies for the first time (applicable to the STAR Market’s Fifth Set of standards). In 2025, total industry financing reached RMB 18.6 billion. The total valuations of TOP100 companies surpassed the trillion-level threshold, showing that capital is driving the industry from the growth stage toward the capability-fulfillment stage. 　　3．Low-orbit satellite internet enters normalized network building: Driven by ITU’s “first-come, first-served” rule, China’s low-orbit constellations represented by “Star Network” and “Thousand Sails” have entered the batch deployment stage. High-frequency launches of “one rocket, multiple satellites” have become the norm, aiming to secure scarce frequency-orbit strategic resources. 　　4．Satellite manufacturing enters the “super factory” era: The focus of competition shifts to efficiency and consistency in mass production. Satellite super factories in Hainan, represented by the Hainan Wenchang Satellite Super Factory, adopt automated pulsed production lines. Target annual production capacity can reach 1,000 satellites, achieving “factory-to-launch” and driving a manufacturing paradigm revolution. 　　5．Exploration of space-ground integrated applications forms a commercial closed loop: Commercialization follows a “urgent demand first” path, penetrating the ToB/ToG market into the ToC market. Direct-to-mobile satellite (DTC) is becoming a hot spot. The Ministry of Industry and Information Technology sets a development target of over ten million users by 2030, laying the foundation for 6G all-space-and-ground integrated networks. 　　6．Reusable rockets enter an engineering ramp-up period: The core of competition shifts from “can it be recovered” to “can it be reused frequently.” Domestic multi-model large-to-medium liquid rocket types have frequent first flights in 2025–2026, aiming to master reusable technology to cope with the huge capacity and cost pressures arising from constellation construction. 　　7． 3D printing becomes a core process revolution: This technology has evolved from prototype manufacturing to direct manufacturing of rocket engines and key load-bearing components such as satellite structures. Through part integration and design optimization, it enables significant cost reduction and rapid iteration, becoming a key benchmark for measuring a company’s engineering and industrialization capability. 　　8． Deep collaboration between central SOEs and private enterprises: The industry landscape goes beyond simple complementary roles and enters a stage of “strategic leadership and market agility driven by a dual-wheel.” Central SOEs ensure strategic security and basic capabilities, while private enterprises provide efficient handoffs in terms of innovation vitality and cost efficiency, collectively addressing large-scale challenges. 　　9． Competition escalates into contests under a new type of national system: Global competition has expanded from frequency-orbit resource battles to include power to set 6G integrated communication standards and positioning in future talent ecosystems. China and the U.S. are building their respective political, technical, and supply-chain alliance systems in the space domain. 　　10． The space economy opens up multi-track explosive growth: The scope of industry boundaries expands dramatically. Frontier areas include: space computing power (e.g., orbital data centers), space tourism (suborbital, orbital, and deep space travel), R&D of heavy-lift vehicles, and long-term visions such as Mars immigration. It is moving toward a truly new era of “the stars and the sea.” 　　Risk warning: The following risks need attention, including satellite internet development, lack of expected breakthroughs in key technologies (such as one rocket to multiple satellites), and intensified international competition for spectrum and space resources. 　　Report source 　　Name of securities research report: 《Commercial Aerospace Ten Major Industrial Trends Outlook》 　　Externally released on: February 2, 2026 　　Report issuing institution: CITIC Construction Investment Securities Co., Ltd.  　　Research analyst for this report:  　　Li Tuoyang SAC No.: S1440516090001 　　Wang Zejin SAC No.: S1440525080004 　　03 The “Fifth Fifteen” Plan Proposes Developing the Aerospace Industry and Paying Attention to Military-to-Civilian Investment Opportunities 　　The “Fifth Fifteen” Plan Proposes Developing the Aerospace Industry and Paying Attention to Military-to-Civilian Investment Opportunities 　　The full text of the “Fifth Fifteen” plan outline has been released externally. The plan further strengthens and expands the development of the aviation and aerospace industry and the marine economy industry. It proposes accelerating the development of strategic emerging industries such as a new generation of information technology, new energy, new materials, intelligent connected new-energy vehicles, robotics, biopharmaceuticals, high-end equipment, and aviation and aerospace. It calls for regionally tailored construction of strategic emerging industry clusters with distinct characteristics and complementary advantages, and aims to build a batch of emerging pillar industries with large growth potential, high technological content, and broad penetration fields. It also aims to expand development space for the marine economy and promote healthy and orderly development of the low-altitude economy. It will implement a demonstration action plan for large-scale application of new technologies, new products, and new scenarios, increase efforts in scenario cultivation and openness, and speed up large-scale development of emerging industries. It encourages the development of strategic products and services, promotes large-scale and standardized series development of domestic large aircraft, improves innovative applications of the BeiDou system, advances innovation in key technologies such as intelligent driving, new solar cells, and new energy storage, and supports the clinical use of innovative drugs. 　　The plan also mentions quantum technology, hydrogen energy, and nuclear fusion energy as future industry areas. Targeting key fields that lead future development, it will build a full-chain future industry cultivation system, promoting quantum technology, biological manufacturing, hydrogen energy and nuclear fusion energy, brain-machine interfaces, embodied intelligence, and 6th-generation mobile communications to become new drivers of economic growth. Strengthen identification and dynamic adjustment of future industries, and intensify the layout of foundational, frontier, and disruptive technologies. Establish a future industry investment growth and risk-sharing mechanism, organize and implement demonstration projects for future industry development, and explore diversified technology routes, typical application scenarios, viable business models, and market regulation rules. Set up a batch of national future industry research institutes and concept validation centers, and build a batch of future industry pilot zones in regions with strong advantages in education and science resources as well as solid industrial foundations. 　　In the “Fifth Fifteen” plan’s future industry track cultivation and development column, tracks related to aviation and aerospace include commercial aerospace, domestic large aircraft, and low-altitude equipment. The plan also specifically proposes improving the fine-grained management level of low-altitude airspace, strengthening capability building for airworthiness approvals, and reinforcing safety assurance for low-altitude flights. It will advance legislation in emerging fields such as biopharmaceuticals, intelligent driving, and the low-altitude economy. 　　Risk warning: 1、National defense budget growth falls short of expectations. In recent years, the national defense budget has maintained relatively stable growth; defense industry policies are trending favorable, but there is the possibility that changes in national policies and national strategies reduce defense budget expenditures. 2、Delivery of weapons and equipment falls short of expectations. In the post-pandemic period, combined with regional tensions, global economic and trade links have been hit significantly. For industries such as shipping, there is a risk that construction cannot be completed on schedule and deliveries are delayed. 3、Progress of related reforms falls short of expectations. The nation’s judgment and guiding ideology regarding future conditions determine the industry’s development outlook. National macroeconomic policies and industry development policies have major impacts on the strategic direction of defense industry enterprises, industry selection, and investment and M&A directions. 　　Report source 　　Name of securities research report: 《The “Fifth Fifteen” Plan Proposes Developing the Aerospace Industry and Paying Attention to Military-to-Civilian Investment Opportunities》 　　Externally released on: March 25, 2026 　　Report issuing institution: CITIC Construction Investment Securities Co., Ltd.  　　Research analyst for this report:  　　Li Tuoyang SAC No.: S1440516090001 　　Wang Chunyang SAC No.: S1440520090001 　　04 Policy Supports AI + Aerospace; GTC Is About to Convene 　　The government work report upgrades the positioning of AI and the aerospace industry. This week, the 4th session of the 14th National People’s Congress is being held in the Great Hall of the People, where Premier Li Qiang of the State Council delivers the government work report (hereafter the “Report”). The Report makes positive statements about AI and aerospace industry development. In the AI area, it proposes “building a new form of intelligent economy,” “further expanding ‘Artificial Intelligence +’,” and “implementing new infrastructure projects such as ultra-large-scale intelligent computing clusters and coordinating compute with electricity, strengthening nationwide integrated computing power monitoring and scheduling, and supporting the development of public cloud,” etc., upgrading AI from being a component of the digital economy into the core of the intelligent economy. In the aerospace area, it upgrades “cultivating commercial aerospace as an emerging industry” to “making aviation and aerospace an emerging pillar industry.” On one hand, it expands the industrial dimension; on the other, it enhances the industry’s positioning. 　　AI and aerospace are expected to form a trillion-level industry scale of 10 trillion at the end of the “Fifth Fifteen” period. The state will invest heavily in major projects under the “Fifth Fifteen” plan. Zheng Shanjie, Chairman of the National Development and Reform Commission, stated this week at an economic-themed press conference during the 4th session of the 14th NPC that it will deepen the “Artificial Intelligence +” initiative. By the end of the “Fifth Fifteen,” the scale of industries related to AI is expected to grow to more than RMB 10 trillion. China will focus on building six major emerging pillar industries and six future industries. The six emerging pillar industries include integrated circuits, aviation and aerospace, biopharmaceuticals, the low-altitude economy, new energy storage, and intelligent robots. Preliminary calculations show that their related output value in 2025 has already approached RMB 6 trillion. It is expected to double again or more by 2030, expanding to more than RMB 10 trillion. It will also continue advancing the BeiDou scaling application engineering and push for the BeiDou industry scale to break through RMB 1 trillion within five years. In addition, for the 109 major projects and projects under the “Fifth Fifteen” plan, it will carry out a number of actions to expand effective investment. These include “six networks” (water network, power grid, computing power network, new communication network, urban underground pipe network, and logistics network), as well as infrastructure such as low-altitude areas and AI +. It is expected that investment scale in the above areas this year will exceed RMB 7 trillion. To facilitate venture capital exit channels, the NDRC this year will also work with the Ministry of Finance, the People’s Bank of China, and other departments to establish national-level M&A funds. It is expected to guide and unlock total funds exceeding RMB 1 trillion across the board. 　　Risk warning: (1) Macroeconomic downside risk: The computer industry’s downstream covers thousands of industries. If macroeconomic downside pressure increases and IT spending by manufacturing enterprises falls short of expectations, it will directly affect demand for the computer industry. (2) Bad debt risk of accounts receivable: Most computer companies’ business relies primarily on project-based contracting. They need to receive repayments after acceptance. If downstream customers’ payment cycles lengthen, it may cause an increase in bad debts on accounts receivable, and may further lead to asset impairment losses. (3) Intensifying industry competition: Demand in the computer industry is relatively certain, but if competition on the supply side intensifies, it may lead to changes in the industry’s competitive landscape. (4) International environment changes affect impact (currently the U.S. continues raising interest rates, affecting technology industry valuations, while market expectations of an overseas recession are strengthening. Companies with a high proportion of overseas revenue may be affected. In addition, the U.S. continues to pressure China’s technology industry). 　　Report source 　　Name of securities research report: 《Weekly Report No. 9 of 26th Year: Policy Supports AI + Aerospace; GTC Is About to Convene》 　　Externally released on: March 8, 2026 　　Report issuing institution: CITIC Construction Investment Securities Co., Ltd.  　　Research analyst for this report:  　　Ying Ying SAC No.: S1440521100010 　　SFC No.: BWB917 　　Wang Jiahao SAC No.: S1440524030002 　　05 In 2025, Global Commercial Aerospace Activities Reached New Highs Again—Focus on Satellite Internet and Reusable Rocket Investment Opportunities 　　In 2025, Global Commercial Aerospace Activities Reached New Highs Again—Focus on Satellite Internet and Reusable Rocket Investment Opportunities 　　In the global landscape, China and the U.S. dominate and commercial attributes stand out. In 2025, there were 329 rocket launches globally, with a success rate of 97.5% (321 satellites reached orbit). China and the U.S. accounted for 83% of the total launches. The U.S. led with 181 launches, followed by China with 92 innovative launches (Russia and New Zealand each with 17, and Europe with 8). 　　The U.S. leads and SpaceX builds a leading advantage. SpaceX’s Falcon 9 completed 165 launch missions throughout the year, exceeding more than 50% of global rocket launches. In 2025, a total of 4,517 satellites were deployed worldwide. The U.S. deployed 3,724, and China deployed 372 satellites. SpaceX’s Starlink has launched over 10k satellites so far, accounting for about two-thirds of all satellites in orbit globally. 　　China breaks through, enabling a systemic leap into a new stage. By the end of 2025, China applied to the ITU for more than 200k satellites’ frequency-orbits. Multiple low-orbit constellations, such as the GW constellation, the Thousand Fan constellation, Jilin-1, Geely constellation, and Tianqi constellation, entered the batch deployment stage. 　　Global ecosystem multipolar competition accelerates commercialization. Global commercial launches were 215 (65%); for satellite operations, besides SpaceX Starlink, there is a multi-party competitive pattern including the EU IRIS², UK OneWeb, and Amazon Project Kuiper. 　　China’s commercial aerospace has experienced structural changes in multiple key dimensions: the regulatory system has formed, reusable rockets have moved into engineering validation, the capital markets have officially opened the entry point, and constellation construction and applications have entered a new stage. 　　1）Launch capability: There were 92 space launches throughout the year, setting a historical record. Zhaque-3 and Long March 12A successfully reached orbit on first flights. Although first-stage recovery had setbacks, the control algorithm was sufficiently validated. The Hainan commercial aerospace launch sites achieved normalized commercial launches, while simultaneously adding launch pads and building key infrastructure upgrades such as an ocean recovery system. 　　2）Policy breakthroughs: The National Space Administration establishes a commercial aerospace division and issues the 《Action Plan for Promoting the High-Quality and Safe Development of Commercial Aerospace (2025—2027)》. At the national level, it clarifies support for issuing satellite internet licenses and conducting multi-category application scenarios such as satellite IoT commercial trial experiments. 　　3）Capital markets: The SSE issued 《Guidelines for Review of Listing Standards for Commercial Rocket Enterprises Applicable to the STAR Market’s Fifth Set of Standards》, opening up a standardized, sustainable long-term financing channel for commercial aerospace enterprises with high capital intensity and long cycles. 　　4）Constellation deployment: The Star Network launched 16 groups with 126 satellites, and the Thousand Fan constellation has 108 satellites in orbit. High-frequency “one rocket to multiple satellites” launches have become the norm, and mass orbit insertion of low-orbit satellites has entered a new stage of scaled deployment. 　　2026 may be the first year of breakthroughs in the industrialization of commercial aerospace, with reusable rockets as the core engine. Reusable rocket technology is shifting from engineering validation to large-scale applications, becoming a key fulcrum driving global commercial aerospace to cut costs, improve efficiency, and increase launch frequency. 　　National strategy sets the tone: advance along two tracks—technology breakthroughs and engineering implementation. At the 2026 annual work meeting, China Aerospace Science and Technology Corporation clarified that, as the opening year of the “Fifth Fifteen,” it will coordinate major projects such as crewed lunar landings and deep space exploration, and industrialization transformation, fully focusing on breakthroughs in reusable rocket technology. It will speed up the construction of an autonomous, controllable aerospace industrial system, providing core support for the building of a space power. 　　Dense corporate practice and rapid landing: recovery validation + launch infrastructure breakthroughs occur simultaneously. 　　Under the fourfold drivers—an increase in launch capability, improvement in the policy framework, sustained empowerment from capital, and expansion of application scenarios—satellite internet infrastructure construction (satellite manufacturing, ground terminals, data services) and reusable rocket technology industrialization (recovery technology, launch services, supply chain) have become the most certain main line in commercial aerospace. We recommend focusing on leading companies with technology validation advantages, superior frequency-orbit resource positioning, and clear commercialization pathways. 　　Risk warning: 1、National defense budget growth falls short of expectations; in recent years, the national defense budget has maintained relatively stable growth and defense industry policies have been favorable, but there is the possibility that changes in national policies and national strategies reduce defense budget expenditures. 2、Weapon equipment delivery falls short of expectations; in the post-pandemic period, combined with factors of regional tension, global economic and trade links have been hit significantly. For industries such as shipping, there is a risk that construction cannot be completed on time and deliveries are delayed. 3、Progress on related reforms falls short of expectations; the nation’s judgment and guiding ideology regarding future conditions determine the industry’s development outlook. National macroeconomic policies and industry development policies have major impacts on strategic direction, industry selection, and investment and M&A directions for defense industry enterprises. 　　Report source 　　Name of securities research report: 《Global Commercial Aerospace Activities in 25 Reach New Highs—Focus on Satellite Internet and Reusable Rocket Investment Opportunities》 　　Externally released on: February 7, 2026 　　Report issuing institution: CITIC Construction Investment Securities Co., Ltd.  　　Research analyst for this report:  　　Li Tuoyang SAC No.: S1440516090001 　　Wang Zejin SAC No.: S1440525080004 　　06 Commercial Aerospace Series Report 3: Satellite Communications Are Expected to Accelerate Development 　　Satellite communications technology is undergoing industrial transformation. Through technological innovations such as lowering orbital altitude, applying phased-array antennas, and using laser media, it has significantly improved transmission speed, reduced latency, and expanded application scenarios. The booming commercial aerospace industry—especially companies represented by SpaceX pushing reusable rocket technology and large-scale constellation deployments—has compressed launch costs, making satellite networking at the scale of tens of thousands of satellites possible. This drives diverse demands such as satellite internet and the Internet of Things, and in the future will also generate broad markets such as space computing power. The global satellite communications market is expected to grow from $25.2 billion in 2025 to $83.0 billion in 2035, with an approximate CAGR of 13%. The industrial chain for next-generation satellite communications technologies can be divided into upstream chips and components, midstream communication modules, and downstream satellite communication terminals. Leading companies in related fields are actively exploring the application of new technologies and products in inter-satellite and space-ground communications, and are expected to benefit from incremental satellite communications markets created by the development of the commercial aerospace industry. 　　Upgrading satellite communications technology is the core driving force pushing industry development. Traditional GEO-orbit satellites face problems such as high latency and narrow bandwidth due to high orbits, making it difficult to meet modern application needs. LEO orbits drastically reduce altitude, compressing latency to within 50 milliseconds. Phased-array antennas realize multi-beam tracking and millisecond-level switching through electronic scanning, improving communication reliability and flexibility. Laser media, leveraging their high-frequency characteristics, support Tbps-level transmission, providing strong anti-interference capability for inter-satellite networking. These technological breakthroughs collectively address the pain points of latency, bandwidth, and stability, laying the foundation for satellite communications to be deployed in a wider range of scenarios. 　　The rise of the commercial aerospace industry creates incremental demand for the satellite communications market. Reusable rocket technology significantly reduces launch costs. In 2025, SpaceX completed 167 launches, and Starlink has over 9,300 satellites in orbit, covering more than 150 countries, with paid users exceeding 9 million. A new low-price package of $50 per month has been launched to accelerate penetration. Satellite communications application scenarios are expanding from traditional broadcasting and maritime communications to include internet access in remote areas, the Internet of Things, emergency response and disaster relief, and defense-related fields. The global market size is expected to reach $83 billion by 2035. In China, multiple entities have applied to the ITU for more than 200k satellites, and supporting capabilities are gradually improving. Launch capability is expected to rise to an average of 10k satellites per year, driving sustained market growth. 　　The satellite communications industry chain covers upstream chips, midstream modules, and downstream terminal segments. Currently, Chain Star (Starlink) satellites have been equipped with phased-array antennas and laser link terminals. The global supply chain has achieved scaled mass production and in-orbit operation of related chips, modules, and terminals. In China, leading companies in sub-sectors are actively laying out areas such as phased-array T/R chips, optical communication chips, spaceborne fiber amplifiers, star sensors, and high-speed spaceborne communication terminals. They have validated the deployment of high-speed optical communications technologies for both inter-satellite and space-ground links, providing high-speed, stable, and secure information transmission capabilities for the development of the commercial aerospace industry. 　　Risk warning: (1) Macroeconomic downside risk: The commercial aerospace industry chain mainly covers manufacturing enterprises. If macroeconomic conditions face downside pressure, and IT spending by manufacturing enterprises falls short of expectations, it will directly affect market demand. (2) Bad debt risk of accounts receivable: The commercial aerospace industry’s business is project-based, so the payment cycle may be longer, and some projects may form bad debt risks in accounts receivable. (3) Intensifying industry competition: The commercial aerospace market and its supporting industries are still in the early stages of development. In the future, there may be new entrants, worsening the competitive landscape. (4) Insufficient policy and technology progress: Currently, the commercial aerospace industry is receiving strong support from the state and local governments. If the continuity of subsequent related policies and funding support does not meet expectations, it may cause the industry to slow down; commercial aerospace—especially reusable rockets and space computing power—still remains in the experimental stage. There is significant uncertainty around costs and reliability. If innovation progress does not meet expectations, it may lead to a slowdown in industry development. 　　Report source 　　Name of securities research report: 《Commercial Aerospace Series Report 3: Satellite Communications Are Expected to Accelerate Development》 　　Externally released on: January 25, 2026 　　Report issuing institution: CITIC Construction Investment Securities Co., Ltd.  　　Research analyst for this report:  　　Ying Ying SAC No.: S1440521100010 　　SFC No.: BWB917 　　Wang Jiahao SAC No.: S1440524030002 　　07 Commercial Aerospace Series Report 2: Taking a Panoramic Look at the Road of Overseas Commercial Aerospace Development 　　Taking a Panoramic Look at the Road of Overseas Commercial Aerospace Development 　　Looking at the development path of the overseas commercial aerospace industry, success depends on a coordinated drive from policy, technology, and business models. The U.S. ensured supportive conditions through legislation, NASA’s large procurement contracts, and loosened regulation, achieving a radical transition from state-led to fully private commercialization in low-orbit space. Europe, in contrast, relies on ESA to integrate resources and explore an integrated market model. On the technology side, cost-reduction and efficiency-improvement technologies represented by reusable rockets, modular satellite manufacturing, and in-orbit services are the core for scaling the industry. On the business-model side, SpaceX achieved profitability through closed-loop operation across the entire value chain, while companies such as Planet Labs formed stable cash flows through subscription services for standardized data. Benchmarking overseas, China’s commercial aerospace development needs to strengthen legislative and procurement support in policy, tackle cost-reduction areas such as reusable rocket development leveraging manufacturing advantages, and use capital markets to empower development—thereby accelerating industrial chain maturity and ecosystem building. 　　Overseas commercial aerospace has already formed a clear development landscape and a mature path. In the U.S., legislation such as the Commercial Space Launch Act breaks down obstacles, and NASA provides massive contracts and technology support through programs such as COTS, CRS, and CCP—helping companies such as SpaceX and Blue Origin rise, enabling full private commercialization of low-orbit space. Europe emphasizes national coordination. The European Space Agency integrates resources to push an integrated market through incentive programs funded by support. Russia continues a state-led model focusing on developing its own constellations, while India is monopolized by ISRO initially and gradually moves toward opening private capital, forming a dual-wheel drive. Different models jointly push global commercial aerospace into a stage of scaled development. 　　Technological breakthroughs are the core engine driving cost reduction and efficiency improvements in commercial aerospace and enabling commercial closed-loop operation. Reusable rocket technology has formed multiple paths such as vertical landing, aerodynamic gliding, and parachute recovery and retrieval, significantly lowering unit launch costs. Modular and software-defined satellite technologies improve satellite production efficiency and operational flexibility, supporting rapid mass deployment. Meanwhile, with the surge in the number of satellites in orbit, the in-orbit services market for extending operational life and debris cleanup grows rapidly, ensuring the sustainable operation of space assets. These technologies together form a solid foundation for industry development and make high-frequency, low-cost access to space possible. 　　Overseas commercial aerospace has successfully validated multiple sustainable business models. SpaceX relies on reusable rocket technology, accumulating initial capital through government launch contracts, and then building the Starlink constellation system—enabling its transformation from a launch service provider to a global telecom operator. Starlink has also become a core driver of its profit growth. On the other hand, remote sensing data service providers represented by Planet Labs provide standardized satellite imagery subscription services. They offer stable cash flows for government, defense, and commercial customers and gradually achieve profitability. The lesson for China lies in accelerating the construction of an autonomous, controllable commercial aerospace ecosystem through policy support (legislation, procurement, and simplified approvals), technology cost reduction (tackling reusable rockets, etc.), and capital empowerment. 　　Risk warning: (1) Macroeconomic downside risk: The commercial aerospace industry chain mainly covers manufacturing enterprises. If macroeconomic conditions face downside pressure, and IT spending by manufacturing enterprises falls short of expectations, it will directly affect market demand. (2) Bad debt risk of accounts receivable: The commercial aerospace industry’s business is project-based, so the payment cycle may be longer, and some projects may form bad debt risks in accounts receivable. (3) Intensifying industry competition: The commercial aerospace market and its supporting industries are still in the early stages of development. In the future, there may be new entrants, worsening the competitive landscape. (4) Insufficient policy and technology progress: Currently, the commercial aerospace industry is receiving strong support from the state and local governments. If the continuity of subsequent related policies and funding support does not meet expectations, it may cause the industry to slow down. Commercial aerospace—especially reusable rockets and space computing power—still remains in the experimental stage. Costs and reliability uncertainties are relatively large. If innovation progress does not meet expectations, it may lead to a slowdown in industry development. 　　Report source 　　Name of securities research report: 《Commercial Aerospace Series Report 2: Taking a Panoramic Look at the Road of Overseas Commercial Aerospace Development》 　　Externally released on: January 3, 2026 　　Report issuing institution: CITIC Construction Investment Securities Co., Ltd.  　　Research analyst for this report:  　　Ying Ying SAC No.: S1440521100010 　　SFC No.: BWB917 　　Li Tuoyang SAC No.: S1440516090001 　　Wang Jiahao SAC No.: S1440524030002 　　08 Commercial Aerospace In-Depth Report: The Stars as the Road—Leading a New Era 　　With state policy support and breakthroughs in industrial technologies working together, the commercial aerospace industry is expected to enter a new era. The main informationized links involved in the commercial aerospace industry include (1) remote sensing and its applications; (2) satellite TT&C systems; (3) CAE simulation/satellite testing; (4) inter-satellite transmission processing modules, communication modules, data processing platforms, etc. For expansion into new scenarios, focus is on space computing power. In addition, we believe that the current development of commercial aerospace is a resonance period for both state-owned enterprises and private enterprises. We suggest paying attention to state-owned enterprise targets such as those in the CETC ecosystem, the electronics system, and the aerospace system, as well as companies that provide supporting services for private enterprises. 　　The goal of building a space power accelerates the development of the commercial aerospace industry. During the “Fifth Fifteen” period, China for the first time clearly proposed building a “space infrastructure system for communication, navigation, and remote sensing with global coverage and efficient operation,” and particularly emphasized “encouraging and guiding the development of commercial aerospace.” This has recognized private capital from the national strategic level. Looking ahead to the “Fifth Fifteen,” China’s policy support for commercial aerospace is expected to evolve from a current focus on infrastructure construction and market cultivation to the formulation of rules and the guidance of industry exploration in frontier areas. In November 2025, the National Space Administration announced the establishment of a Commercial Aerospace Division and simultaneously released the 《Action Plan for Promoting the High-Quality and Safe Development of Commercial Aerospace (2025-2027)》, clarifying that by 2027, the commercial aerospace industry will achieve growth in industrial scale, high-efficiency ecosystem collaboration, and improved safe regulation. 　　Informationization of the aerospace industry mainly involves multiple informationized links such as remote sensing, flight control, simulation/testing, etc. 1）Remote sensing is one of the main fields in commercial aerospace development because it has broad application scenarios and creates intuitive economic value. 2）As dense deployment of low-orbit satellite constellations makes the space environment increasingly complex, satellite intelligent flight control technologies become the cornerstone for ensuring the security and efficient operation of the entire industry. Demand for TT&C systems is expected to increase significantly. 3）CAE technology’s application in commercial aerospace runs throughout the entire lifecycle of products such as satellites, rockets, and spacecraft probes, and it plays an important role in both design and testing stages.   　　Space computing power is expected to become a new application scenario and an organic supplement to ground computing power. Looking overseas, when Musk was interviewed, he proposed 100 GW of space AI data centers each year, believing that space AIDC is the lowest-cost path for running large-scale artificial intelligence. Meanwhile, Google officially disclosed Project Suncatcher and plans to send a satellite carrying TPUs into orbit for in-orbit experiments. Given that building large-scale intelligent computing centers on the ground requires solving huge issues such as electricity consumption, land resources, and cooling, the advantages of space computing power precisely address these pain points, with potential for commercialization and economic viability. 　　Risk warning: (1) Macroeconomic downside risk: The commercial aerospace industry chain mainly covers manufacturing enterprises. If macroeconomic conditions face downside pressure, and IT spending by manufacturing enterprises falls short of expectations, it will directly affect market demand. (2) Bad debt risk of accounts receivable: The commercial aerospace industry’s business is project-based, so the payment cycle may be longer, and some projects may form bad debt risks in accounts receivable. (3) Intensifying industry competition: The commercial aerospace market and its supporting industries are still in the early stages of development. In the future, there may be new entrants, worsening the competitive landscape. (4) Insufficient policy and technology progress: Currently, the commercial aerospace industry is receiving strong support from the state and local governments. If the continuity of subsequent related policies and funding support does not meet expectations, it may cause the industry to slow down. Commercial aerospace—especially reusable rockets and space computing power—still remains in the experimental stage. Costs and reliability uncertainties are relatively large. If innovation progress does not meet expectations, it may lead to a slowdown in industry development. 　　Report source 　　Name of securities research report: 《Commercial Aerospace In-Depth Report: The Stars as the Road—Leading a New Era》 　　Externally released on: December 15, 2025 　　Report issuing institution: CITIC Construction Investment Securities Co., Ltd.  　　Research analyst for this report:  　　Ying Ying SAC No.: S1440521100010 　　SFC No.: BWB917 　　Li Tuoyang SAC No.: S1440516090001 　　Wang Jiahao SAC No.: S1440524030002 　 Sina Statement: This message is reposted from Sina’s partner media. Sina.com posts this article for the purpose of transmitting more information and does not mean that Sina agrees with its viewpoints or verifies the descriptions. The content of the article is for reference only and does not constitute an investment recommendation. Investors act at their own risk. Massive information and precise interpretation are available in the Sina Finance APP Editorial office: Ling Chen
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FomoAnxiety

FomoAnxiety

04-06 18:46
SpaceX’s IPO could become the largest public offering ever, as the aerospace firm targets a valuation of $2 trillion. Following the news, shares of Rocket Lab RKLB +0.59% ▲ , Planet Labs PL -2.59% ▼ , and AST SpaceMobile ASTS +4.08% ▲ all jumped sharply. Interestingly, this market reaction suggests that a SpaceX listing could benefit not just the company itself but the entire industry by changing how investors view space-related businesses. In fact, some analysts believe this moment could be similar to the early days of the internet. ### Easter Sale - 70% Off TipRanks New trading tool for ASTS bulls Speaking to _Yahoo Finance_, Chad Anderson, the CEO of Space Capital, compared the potential SpaceX IPO to Netscape’s 1995 listing, which helped turn the internet into a serious investment category. In the same way, a public SpaceX could give institutional investors a clear benchmark for valuing the space economy. As a result, this could attract more capital and change the perception of space from a niche, high-risk area to a more established and important part of the global economy. Many experts also believe that this could lead to a “re-rating” of the entire space sector, which would result in higher valuations and more investments. Glen Anderson of Rainmaker Securities noted that space is increasingly being seen as critical infrastructure that covers areas like communications, defense, and data. In addition, the IPO could encourage more private space companies to go public, as they look to follow SpaceX and take advantage of renewed investor interest in the sector. **Which Space Stock Is the Better Buy?** ---------------------------------------- Turning to Wall Street, out of the three stocks mentioned above, analysts think that RKLB stock has the most room to run. In fact, RKLB’s average price target of $86.92 per share implies 28.1% upside potential. ![](https://img-cdn.gateio.im/social/moments-322dd5475a-e8f87ebff1-8b7abd-badf29) Disclaimer & DisclosureReport an Issue
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