AI is drawing more attention and capital into the digital world, yet the real action for long term infrastructure lies overhead in orbit. As data, defence, and communications become more space reliant, businesses that build rockets, satellites, and ground systems sit at the center of that shift. This article breaks down 3 stocks from a global space infrastructure shortlist that could deserve a place on your watchlist.
The three stocks covered next are only a small sample of what is happening in orbit, and the full screen surfaced 60 more listed space infrastructure businesses with equally compelling narratives that are not included here. To move beyond the shortlist and start separating higher conviction ideas, go straight to the Global Space Race Stocks screener , where you can identify opportunities, analyze fundamentals, and filter for the space race exposure that fits your watchlist.
Lockheed Martin (LMT)
Overview:Lockheed Martin is a global aerospace and defense contractor that builds aircraft, missiles, satellites, space transportation systems, and integrated space-to-ground intelligence and communication networks.
Operations:The business generates most of its US$89.1b revenue from Aeronautics at US$32.2b and Space at US$13.9b, with the United States contributing US$54.9b.
Market Cap:US$148.7b
Lockheed Martin matters for this space screener because its Space segment supplies much of the satellite, orbital transport, and ground-integration hardware that keeps governments and commercial operators connected to orbit.
"Lockheed Martin is moving munitions like PAC-3, THAAD, PrSM and JATM onto seven year framework agreements that aim to triple or quadruple production and allow the company to retain a larger share of cost savings from capacity investments such as robotics in Camden. This can support higher future revenue and structurally stronger net margins."
What happens to those margins if a single production or budget assumption shifts will be crucial for how the space story plays out.
If those assumptions shift, the full narrative for Lockheed Martin shows how Lockheed Martin's space exposure, cost curve and contract mix could be accelerating or quietly capping upside.
Montana Aerospace (SWX:AERO)
Overview:Montana Aerospace manufactures mission critical aerostructures and high precision titanium and aluminum components for aviation, space, and industrial customers worldwide.
Market Cap:CHF1.5b
Montana Aerospace plugs into the Global Space Race theme through the metal backbone of orbit, supplying high spec components that let prime contractors focus on payloads and missions while relying on its engineering and manufacturing scale.
"Although Montana Aerospace points to a vertically integrated, multi material footprint as a long term edge, the extra €30m to €40m per year growth and integration CapEx on top of about €50m maintenance CapEx risks outpacing cash generation if new work packages expected mainly from 2027 do not ramp as planned."
What happens to margins and free cash flow if one assumption about those future work packages or capital needs breaks will matter a lot.
Those cash flow swings matter, and the full narrative for Montana Aerospace shows how Montana Aerospace's integration push could be accelerating value rather than letting heavy CapEx quietly stall the story.
Boeing (BA)
Overview:Boeing designs, manufactures, and supports commercial aircraft, defense systems, and space hardware, including satellites, launch systems, and human spaceflight platforms.
Operations:Boeing generates US$43.1b from Commercial Airplanes, US$30.4b from Defense, Space & Security, and US$21.5b from Global Services, with revenue spread across the United States, Europe, Asia, and the Middle East.
Market Cap:US$136.8b
Boeing matters in the Global Space Race theme because its Defense, Space & Security arm builds and supports the satellites, launch systems, and human spaceflight hardware that underpin much of today's orbital infrastructure, even though commercial jets still account for a larger share of total revenue.
"Any single programme charge above $1 billion in a quarter through 2027. Full year 2026 free cash flow landing below the $1 billion guidance floor, which requires a large second half swing from a negative first."
How any single pressure point inside those long cycle space and defense programs shifts may have a significant impact on future margins.
That kind of program risk can cut both ways, and the full narrative for Boeing shows where space exposure could be quietly masking pressure or setting Boeing up for an accelerating recovery.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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