Global space economy reaches $613 billion in 2025, with projected $1.8 trillion by 2035.

The global space economy is expanding rapidly, reaching $613 billion in 2025, driven by space-based advancements that are opening opportunities in research and national security. McKinsey estimates the sector could grow to $1.8 trillion by 2035, implying a compound annual growth rate of over 11%.

Commercial momentum and investment focus

Growth in the space economy is being supported by the commercial sector’s progress in launch services, satellites, imagery, and other core technologies. While investor attention has included SpaceX’s pending initial public offering, three publicly traded companies—Rocket Lab, Planet Labs, and Lockheed Martin—are highlighted as ways to participate in the sector’s expansion.

Rocket Lab: scaling from small launches to medium-lift

Rocket Lab (RKLB) has positioned itself as the second-most-used space launch company in the United States, behind SpaceX. The company has focused on small-rocket launches with high frequency, recording 85 launches to date.

Rocket Lab currently serves smaller customers using its Electron launch vehicle, while it is targeting larger payloads with its new Neutron medium-lift rocket. The company expects Neutron to support higher profits and improved margins. Neutron was scheduled to debut this year, but in January a Stage 1 fuel tank ruptured during a hydrostatic pressure test. Rocket Lab’s goal is to launch Neutron in the fourth quarter of this year.

Planet Labs: AI-enabled Earth imaging and defense applications

Planet Labs (PL) operates what it describes as the world’s largest fleet of Earth-imaging satellites, capturing images of the planet daily. Its satellite constellations include Pelican, which provides 30cm-class high-resolution imagery on a sub-hourly basis, and Tanager, which uses hyperspectral sensors to detect greenhouse gas leaks such as methane.

The company also has a large historical archive of Earth observations and is using artificial intelligence to convert images into insights for commercial and government customers. Planet Labs expanded its partnership with Nvidia to use AI chips directly on its Pelican-4 satellite, enabling customers to receive processed and analyzed space data in minutes rather than hours.

Planet Labs is also emerging as a defense-related name. In March, it was selected as a prime contractor for the Missile Defense Agency’s SHIELD (Scalable Homeland Innovative Enterprise Layered Defense) program. Under the agreement, Planet Labs will provide AI-enabled monitoring and maritime domain awareness to the U.S. government.

Lockheed Martin: established defense and space systems

Lockheed Martin (LMT) is a major defense contractor and a key participant in the growing space economy. The company dominates space-based command and control and is a key contractor for the Space Development Agency’s (SDA) Proliferated Warfighter Space Architecture, described as a network of hundreds of satellites providing missile warning and data tracking.

Lockheed Martin is also the prime contractor for NASA’s Orion spacecraft, which is central to the Artemis Moon missions. The company is additionally part of a consortium—including Palantir and Anduril—developing software and hardware for the Golden Dome antimissile shield.

Backlog and contract visibility

For investors seeking a more established company in the space economy, Lockheed Martin is positioned as an option with long-term government exposure. The company has a $194 billion backlog, which it says supports long-term contracts and steady cash flow.