SpaceX confidentially filed for its IPO on April 1, and quickly raised its target valuation above $2 trillion. That would dwarf Saudi Aramco ’s record $29.4 billion raise in 2019 and could bring in as much as $75 billion. Morgan Stanley just released a list of 60 public companies across the full space supply chain -- the Space 60 -- that stand to capitalize on the opportunity, everything from raw materials to satellite services.
While all the names on that list stand to gain something from broader space growth, many operate businesses so diversified that space revenue simply will not move the needle. The six stocks below, drawn from the spacecraft-and-launch and satellite-operators categories in Morgan Stanley’s framework, operate with far tighter ties to the infrastructure layer. A SpaceX listing will force the market to reprice the entire ecosystem, and these names sit at the center of that shift.
Quick Read
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Rocket Lab (RKLB) reported record 2025 revenue of $602M, up 38% year-over-year, with a $49B market cap driven by its vertical integration across launch vehicles, spacecraft systems, and orbital infrastructure. AST SpaceMobile (ASTS) generated $70.9M in 2025 revenue with guidance for $150M-$200M in 2026 and $1.2B in contracted revenue as it builds a space-based cellular broadband network. Planet Labs (PL) posted record fiscal 2026 revenue of $307.7M, up 26% year-over-year, with a $900M backlog and 98% recurring contract value from its Earth-observation constellation.
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SpaceX’s IPO will reprice the entire space ecosystem and accelerate demand for companies with tight exposure to infrastructure layers rather than diversified aerospace portfolios.
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Rocket Lab USA (RKLB)
Rocket Lab ( NASDAQ:RKLB ) stands as the most prominent winner, as it builds launch vehicles, spacecraft systems, and orbital infrastructure from the ground up. The company reported record 2025 revenue of $602 million, up 38% year-over-year. Quarterly revenue reached $180 million in the final period, up 36%. With a current market cap near $49 billion but still producing losses because of ongoing investment, the numbers show operational leverage building fast.
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Unlike diversified aerospace names whose space work amounts to a fraction of total sales, Rocket Lab’s vertical integration gives it direct exposure to every additional launch cadence. Smart investors see the SpaceX IPO as the catalyst that accelerates demand across the small-to-medium launch market Rocket Lab dominates.
AST SpaceMobile (ASTS)
AST SpaceMobile ( NASDAQ:ASTS ) is constructing a space-based cellular broadband network that connects standard phones directly from orbit. The company generated $70.9 million in full-year 2025 revenue and guided for $150 million to $200 million in 2026, with analysts projecting $1 billion by 2027. It holds more than $1.2 billion in contracted revenue and carries a market cap around $25 billion, though it too still generates losses.
While larger satellite operators dilute their focus across legacy services, AST SpaceMobile’s direct-to-device model targets the untapped global mobile market. The SpaceX IPO will spotlight connectivity infrastructure, and AST SpaceMobile’s BlueBird constellation expansion positions it to capture that attention without the baggage of diversified operations.
Planet Labs (PL)
Planet Labs ( NYSE:PL ) operates the world’s largest Earth-observation constellation and delivers daily global imagery plus analytics. For fiscal 2026, the company posted record revenue of $307.7 million, up 26% year-over-year, with fourth-quarter revenue hitting $86.8 million, up 41%. Backlog reached $900 million, up 79%, and remaining performance obligations climbed 106% to $852 million. The stock trades at a market cap near $13.3 billion, with greater losses last year due to the near-1,100% gain in its stock, causing a repricing of warrants.
Compared with defense contractors that treat imagery as one small segment, Planet Labs’ 98% recurring annual contract value gives it clearer visibility and higher operational leverage to the data-services boom the SpaceX listing will intensify.
Intuitive Machines (LUNR)
Intuitive Machines ( NASDAQ:LUNR ) designs and operates lunar landers and surface delivery systems tied to NASA’s Artemis program and commercial missions. The company reported trailing 12-month revenue of $210 million and guided 2026 revenue between $900 million and $1 billion -- nearly five times higher. Its market cap sits near $4.4 billion, with losses significantly improving last year.
While bigger aerospace peers spread lunar work across massive defense portfolios, Intuitive Machines’ focused lander roadmap delivers concentrated exposure. The SpaceX IPO will heighten scrutiny on lunar infrastructure, and Intuitive Machines’ recurring mission pipeline stands to benefit directly.
Redwire (RDW)
Redwire ( NYSE:RDW ) manufactures spacecraft components, deployable structures, and in-space manufacturing systems. Full-year 2025 revenue reached $335.4 million, up 10.3%, with fourth-quarter revenue jumping 56.4% to $108.8 million. The company guided 2026 revenue at $450 million to $500 million and ended the year with a $411 million backlog. The market cap is approximately $2.06 billion, with a trailing P/E at a loss.
Unlike specialty-materials suppliers whose space sales represent a minor slice, Redwire’s end-to-end component focus creates tighter correlation to satellite deployment growth. The SpaceX-driven repricing will shine a brighter light on exactly these enabling technologies.
BlackSky Technology (BKSY)
BlackSky Technology ( NYSE:BKSY ) delivers real-time geospatial intelligence and high-revisit satellite imagery. Full-year 2025 revenue totaled $106.6 million, and the company guided 2026 revenue between $120 million and $145 million, with adjusted EBITDA turning positive. Backlog grew 32% to $345 million. The stock carries a market cap near $1.39 billion. Its losses also widened for the year due to repriced warrants on the 431% jump in its share price.
While broader intelligence contractors bury geospatial revenue inside huge portfolios, BlackSky’s dedicated constellation and analytics platform deliver purer exposure. The SpaceX IPO will draw fresh capital toward persistent monitoring plays, and BlackSky’s contract momentum positions it to capture that flow.
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