SpaceX rivals draw investor focus as alternatives in space and defense sectors rise

SpaceX’s recent IPO, the largest in history, propelled the company into the trillion‑dollar club and placed its satellite internet service Starlink at the centre of market attention. In the first quarter, Starlink generated $3.26 billion in revenue, accounting for 70 % of SpaceX’s total sales and producing a $1.19 billion operating profit, while the company recorded a $662 million loss in its broader space segment.

Analyst Drew Cupps of Polen Capital highlighted several publicly‑traded companies as viable alternatives for investors seeking exposure to the space and defence markets. He cited AST SpaceMobile, which is building a satellite‑to‑smartphone communications network with partners such as AT&T and Verizon; Rocket Lab, noted for its reliable small‑payload launch capability; and Planet Labs, a provider of high‑resolution imaging satellites that serves the U.S. defence ministry and foreign governments. Additional defence‑oriented stocks mentioned include Kratos Defense & Security Solutions, nLIGHT and Aerovironment. Cupps also noted SpaceX’s plans to offer full‑rate voice calls over Starlink, potentially involving a partnership with T‑Mobile US.