Three space exploration stocks to watch in 2026

SpaceX, the dominant force in commercial spaceflight led by Elon Mush, has reportedly filed its intention to go public at a valuation of anywhere between $1.25 trillion and $1.75 trillion this June. That would make SpaceX the biggest IPO in history, easily surpassing the current record holder, Alibaba, which raised $22 billion in its 2024 IPO. While Musk has hinted that Starlink would be the first of his companies to go the IPO route, any move toward a SpaceX IPO would likely ignite massive investor demand and boost valuations across the entire space economy, and bring the spotlight onto other players in the space technology realm. That’s because SpaceX isn’t just another aerospace company; it’s developed into the backbone of modern launch infrastructure, satellite deployment, and, increasingly, global internet connectivity. A public listing would instantly create a benchmark for how the stock market prices the reusable rockets, satellite networks, and space logistics that define the industry. The good news is that opportunity-minded investors don’t have to wait for the SpaceX IPO to get in on the space race with select sector stocks. The fact is, several publicly traded companies are already positioned to benefit from the same tailwinds, like growing government contracts, commercial satellite demand, and a rapidly expanding space economy projected to exceed $1 trillion over the next decade. So don’t wait for SpaceX to blast off. Here are three of the best space exploration stocks to track right now. Rocket Lab USA While NASA has said it will table its Gateway project, in which the agency had planned to create a space station orbiting the moon, it does plan to go ahead with its moon base program. It’s also given a green light for its Artemis mission operation, which is expected to ship astronauts to the lunar surface for more study. That’s all good news for Rocket Lab, which already has a proven launch vehicle (Electron) with a consistent mission cadence and is developing a reusable Neutron rocket to compete more directly with SpaceX. The company has also built strong ties with the U.S. defense and NASA communities, with multiple contracts in play. Analysts have taken note, with Roth MKM analyst Sujeeva issuing a Buy call on the stock with a $90 price target, representing a 33% price upgrade on Rocket Lab shares. Lockheed Martin Financially, LMT appears to be on solid ground. The company reported a year-over-year revenue increase of 10.6% in its Missiles and Fire Control (MFC) segment, driven by enhancements in JASSM, LRASM, and precision fires programs, solidifying its position in missile defense systems. “The Space segment also showed resilience with a 4% increase in revenue, reflecting broad strength in commercial and defense programs, despite some weaknesses in specific areas,” according to Benzinga analysis. “Furthermore, the Aeronautics segment’s revenue rose to $7.42 billion, a 1.9% increase supported by higher F-35 sales, which underscores the growing demand and potential for continued growth in the company’s defense offerings.” The company’s long-term potential looks robust, too. Lockheed is a key contractor in next-generation space security initiatives, an area that has seen increased global funding in recent years. Plus, unlike smaller space startups, Lockheed offers a way to invest in the space economy via a proven ‘picks and shovels’ strategy without betting on speculative launch economics. Wall Street analysts concur, with 14 market mavens tracking the stock calling for an average price target of $672, indicating a 7.95% premium to LMT’s current share price. Northrop Grumman Northrop Grumman is also high on the list of beneficiaries of NASA’s Artemis program. NOC is a critical supplier of the program’s space launch system rocket boosters, and it’s also handling the Habitation and Logistics Outpost (HALO) module for the agency’s space station efforts, and is widely expected to be a major partner for NASA’s ongoing flight mission programs. Financially, Northrop Grumman is thriving, with a 32% year-over-year increase in the third quarter of 2025 and a 20% increase year-to-date, fueled by robust demand for munitions, airborne radars, and space systems across all segments. Citigroup analyst John Godyn is aboard with NOC, recently reiterating a Buy outlook on the stock, with a one-year price target of $807. Kick in a decent 1.32% dividend yield that should attract income-minded buyers, and it’s easy to see why Northrop Grumman is developing into a showcase stock in the global defense and space domain."