Rocket stocks give investors exposure to the companies that design, build, and launch rockets -- the backbone of the modern space economy. Demand is rising as governments, defense agencies, and commercial customers ramp up spending on satellite launches, national security missions, and space infrastructure.
Some rocket companies are established aerospace leaders with decades of experience, while others are newer, more speculative pure-play space firms aiming to disrupt launch costs and access to orbit. That mix creates both opportunity and risk. Below, we’ll highlight some of the best rocket stocks to consider and what sets each one apart.
Top rocket stocks to consider
1. Rocket Lab
NASDAQ: RKLB
Key Data Points
Rocket Lab (RKLB -9.90%) is a provider of rocket launching services. The aerospace service provider launches satellites and other technologies for both public and private sector customers. It's seeing encouraging growth as the space industry continues to rapidly evolve.
The launch services specialist is expanding through internal initiatives and acquisitions, building an impressive track record of successful launches. The rocket-launching specialist has won contracts with public organizations, including NASA and the European Space Agency (ESA), as well as companies, including Planet Labs (PL -8.96%) and BlackSky Technology (BKSY -10.80%). Between its opportunities to continue providing launch services for telecommunications and satellite imaging providers in the private sector and a promising outlook in both public and private defense categories, Rocket Lab stock stands out as an investment opportunity that's worth keeping an eye on.
2. Lockheed Martin
NYSE: LMT
Key Data Points
Lockheed Martin (LMT -3.84%) has been a leader of the U.S. aerospace and defense industry for decades. The company provides technologies and services to the U.S. Department of Defense and NASA, in addition to agencies from other governments around the world. The company's space segment is one of its four major divisions. For investors seeking diversified, well-established aerospace plays with exposure to growth in the rocket industry, Lockheed Martin could be a good portfolio addition.
The company has supported all 22 of NASA's Mars missions, and it's poised to play a major role in the agency's next big space exploration moves. Lockheed is the primary builder of NASA's Orion spacecraft for space exploration and a key contractor in the Artemis program to build facilities on the surface of the moon in preparation for travel to Mars.
Lockheed has been contracted to help build at least six of the Orion spacecraft and could wind up producing as many as 12 of the craft for NASA. The company is also designing the first rocket to ever be launched from the surface of Mars. Lockheed Martin's diversified leadership across multiple segments of the defense and aerospace industry makes its stock a good pick for investors seeking relatively low-risk plays in the rocket industry.
3. L3Harris Technologies
NYSE: LHX
Key Data Points
L3Harris Technologies (LHX -2.87%) is an aerospace and defense company that has played a role in nearly every major U.S. space and missile program. The company designs and manufactures engines and other related components that make rocket launches possible. It also manufactures hypersonic propulsion systems and solid rocket engines that are used in missile systems. In addition to rocket-related technologies, L3Harris also operates in the communications-systems-technologies and integrated-mission-systems categories.
In 2023, the company completed its acquisition of Aerojet Rocketdyne -- a move that further strengthened its position in the rocketry industry. Aerojet now operates as a business segment within L3Harris and develops rocket propulsion and energetics technologies, and it's currently working on projects including providing engines and other propulsion technologies for the Space Launch System (SLS) and Orion spacecraft as part of the U.S.'s Artemis program.
4. Voyager Technologies
NYSE: VOYG
Key Data Points
Voyager Technologies is a fast-growing player in the space and defense industries. The company had its initial public offering (IPO) in June 2025 and shot out of the gate, thanks to expectations that its strong tech foundations would make it a major beneficiary of space commercialization.
The company designs propulsion systems used in space operation payloads and missile interception systems. In addition to propulsion systems, the company also makes airlocks for spacecraft and space stations, systems for improving and sustaining the health of astronauts in space, and diagnostic and monitoring technologies.
Lockheed Martin has partnered with Voyager for the use of its propulsion and optical guidance systems, and the tech specialist has won contracts with U.S. defense agencies and NASA. Along with Airbus (EADSY -0.86%), Mitsubishi, and MDA Space, Voyager is also a key partner in the development of the U.S.'s Starlab space station.
Should you invest in rocket stocks?
The commercialization of space is still in its early innings, but demand is growing quickly. Satellite internet, communications, defense spending, and space infrastructure projects are driving a steady increase in launch activity. Over time, that could support long-term growth for companies that provide rocket-launch services and related technologies.
Investing in rocket stocks offers one way to gain exposure to these trends. Investors can target individual companies with strengths in launch systems and propulsion, or take a broader approach through industrial or aerospace-focused ETFs.
Risks of investing in rocket stocks
Despite the long-term opportunity, rocket stocks come with meaningful risk. Valuations are sensitive to sales growth, launch cadence, and contract wins. If results fall short of expectations, share prices can drop quickly.
Younger, pure-play rocket companies tend to carry the highest risk. Their valuations often assume rapid growth, and delays, cost overruns, or slower adoption can lead to sharp pullbacks. Many also lack diversified revenue streams to cushion setbacks.
Larger, established aerospace companies generally offer more stable cash flow and diversified businesses. However, they can still face downside risk if earnings disappoint or if newer competitors successfully disrupt launch markets. Performance in non-space segments can also weigh on results, even when rocket-related units perform well.
Factors to consider before investing in rocket stocks
Before investing, consider your risk tolerance and time horizon. Investors seeking high-growth potential may prefer smaller, more speculative rocket companies, while those prioritizing stability may lean toward diversified aerospace leaders or ETFs.
When evaluating individual stocks, look at valuation metrics such as price-to-earnings (P/E), price-to-sales (P/S), and price-to-earnings growth (PEG) ratios. It’s also important to assess contract wins, backlog visibility, launch reliability, and relationships with government and commercial customers -- all of which can signal long-term competitiveness.
Related investing topics
FAQ
Rocket Stock FAQ
About the Author
