Launch costs are still falling. Constellations are still filling in. The pure-play space names finally have revenue, backlog, and — in a few cases — a path to cash. R2A tracks 47 names across launch, satellites, ground systems, and aerospace components. Here's what's worth watching.
The space industry has spent fifteen years promising economics that didn't arrive. They're arriving now. Reusable launch has pulled the cost of getting a kilogram to low-Earth orbit from ~$10,000 in 2010 to under $1,500 today, and the curve still bends down. That single change cascades: bigger satellites, faster constellation refresh, real broadband from space, real Earth observation as a service, real space-based compute as a near-term frontier rather than a sci-fi punchline.
R2A's variant view: the market still prices most public space names as if launch is the bottleneck. Increasingly it isn't. The new bottleneck is downstream — ground infrastructure, optical inter-satellite links, spectrum, and the software that turns raw orbital data into something a customer pays for. The names that own pieces of that stack — Rocket Lab end-to-end, AST SpaceMobile on direct-to-handset, Planet on analytics-grade imagery — are the ones whose addressable market has just expanded by an order of magnitude. The names that don't own a piece of the new stack are pricing in growth they may not capture.
Every name R2A tracks in this sector — 47 in all. Click any column header to sort. Public names with prices and fair values; private comps shown for ecosystem context.
| Ticker | Company | Call | Conviction | Last | R2A FV | Moon |
|---|---|---|---|---|---|---|
| RKLB | Rocket Lab USA Launch / Platform |
Buy | ●●● High | $119.83 | $173.50 | $380 |
| ASTS | AST SpaceMobile D2D Satellite |
Buy | ●●● Medium | $76.47 | $102.00 | $270 |
| BKSY | BlackSky Technology Imagery Intel |
Buy | ●●● Medium | $35.56 | $70.00 | $150 |
| FLY | Firefly Aerospace Small-lift / Lunar |
Buy | ●●● Medium | $33.80 | $50.00 | — |
| HEI | HEICO Aerospace Components |
Buy | ●●● Medium | $277.30 | $310.00 | — |
| HWM | Howmet Aerospace Aerospace Alloys |
Buy | ●●● Medium | $239.65 | $270.00 | $400 |
| HXL | Hexcel Aerospace Composites |
Buy | ●●● Medium | $93.54 | $115.00 | $185 |
| KRMN | Karman Holdings Space + Missile Components |
Buy | ●●● Medium | $61.27 | $90.00 | — |
| MOG.A | Moog (Class A) Motion Control / Valves |
Buy | ●●● Medium | $300.52 | $360.00 | $500 |
| MRCY | Mercury Systems Rad-Hard Electronics |
Buy | ●●● Medium | $79.74 | $110.00 | $200 |
| NNDM | Nano Dimension 3D Printing Electronics |
Buy | ●●● Medium | $1.93 | $3.00 | — |
| RDW | Redwire ISAM / Servicing |
Buy | ●●● Medium | $12.05 | $63.56 | $185 |
| SATL | Satellogic Earth Observation (small-cap) |
Buy | ●●● Medium | $7.18 | $9.40 | — |
| SATS | EchoStar Spectrum + SpaceX Backdoor |
Buy | ●●● Medium | $117.59 | $145.00 | — |
| SPIR | Spire Global Small-sat Data |
Buy | ●●● Medium | $18.20 | $20.00 | — |
| TDG | TransDigm Aerospace Components |
Buy | ●●● Medium | $1,208.57 | $1,500.00 | — |
| TDY | Teledyne Technologies Space Electronics + Optics |
Buy | ●●● Medium | $640.00 | $725.00 | $950 |
| VOYG | Voyager Technologies Defense + Space Solutions |
Buy | ●●● Medium | $26.56 | $40.00 | — |
| VSAT | Viasat Satellite Broadband / L-band |
Buy | ●●● Medium | $65.12 | $74.00 | — |
| LUNR | Intuitive Machines Lunar Services |
Hold | ●●● Medium | $32.29 | $37.35 | $105 |
| PL | Planet Labs Earth Observation |
Hold | ●●● Medium | $41.43 | $53.75 | $130 |
| PSN | Parsons Space + Missile Defense |
Hold | ●●● Medium | $50.87 | $63.00 | — |
| IRDM | Iridium Communications LEO Satellite Comms |
Hold | ●●● Low | $39.44 | $43.00 | — |
| SIDU | Sidus Space Space Services (early-stage) |
Hold | ●●● Low | $3.38 | $3.00 | — |
| VELO | Velo3D 3D Printing / Aerospace |
Hold | ●●● Low | $13.51 | $2.00 | — |
| MNTS | Momentus In-space Transport (impaired) |
Sell | ●●● Low | $4.57 | $3.50 | — |
| Astranis | Astranis Space Small GEO Broadband |
Watch | ●●● High | — | — | — |
| Blue Origin | Blue Origin Heavy-lift Launch + Lunar Lander |
Watch | ●●● High | — | — | — |
| Capella | Capella Space Commercial SAR |
Watch | ●●● High | — | — | — |
| ICEYE | ICEYE Commercial SAR |
Watch | ●●● High | — | — | — |
| K2 Space | K2 Space High-power LEO/MEO Satellites |
Watch | ●●● High | — | — | — |
| Lynk | Lynk Global D2D Satellite (ASTS competitor) |
Watch | ●●● High | — | — | — |
| Relativity | Relativity Space 3D-printed Rockets |
Watch | ●●● High | — | — | — |
| SpaceX | SpaceX Launch · Starlink · Starship |
Watch | ●●● High | ~$1.0T | — | $2.5T |
| True Anomaly | True Anomaly On-orbit Defense |
Watch | ●●● High | — | — | — |
| ICON | ICON Lunar Surface 3D Printing |
Watch | ●●● Medium | — | — | — |
| Lunar Outpost | Lunar Outpost Lunar Surface Mobility |
Watch | ●●● Medium | — | — | — |
| Lunar Resources | Lunar Resources Lunar Water Ice Extraction |
Watch | ●●● Medium | — | — | — |
| Overview Energy | Overview Energy Space-based Solar Power |
Watch | ●●● Medium | — | — | — |
| Sierra Space | Sierra Space Spaceplane + Stations |
Watch | ●●● Medium | — | — | — |
| Stoke | Stoke Space Full Reusability Launch |
Watch | ●●● Medium | — | — | — |
| Astrobotic | Astrobotic Lunar Landers + Logistics |
Watch | ●●● Low | — | — | — |
| AstroForge | AstroForge Asteroid Mining (early) |
Watch | ●●● Low | — | — | — |
| Astroport | Astroport Lunar Regolith / Construction |
Watch | ●●● Low | — | — | — |
| Axiom | Axiom Space Commercial Astronaut / ISS |
Watch | ●●● Low | — | — | — |
| TransAstra | TransAstra Asteroid Water / Propellant |
Watch | ●●● Low | — | — | — |
| Vast | Vast Space Commercial Space Station |
Watch | ●●● Low | — | — | — |
Every time R2A moved a name to Buy, Hold, or Sell — when, and the one-line reason. No grades. The record speaks for itself.
| Date | Ticker | Call | Why |
|---|---|---|---|
| 2026·05·08 | ASTS | Buy | Direct-to-cell unit economics confirmed by Verizon and AT&T deal terms. Moved up from Hold. |
| 2026·05·08 | RKLB | Buy | Reaffirmed after Q1 record revenue, Mynaric acquisition closes optical inter-satellite link gap. |
| 2026·04·22 | BKSY | Buy | Defense backlog and Gen-3 satellite revisit cadence justify re-rating. |
| 2026·04·18 | LUNR | Hold | Contract cadence still unproven post-IM-2; staying on the bench until IM-3 data. |
| 2026·04·15 | RDW | Buy | Edge Autonomy acquisition + Hera deck delivery proves the platform-parts thesis. |
| 2026·04·02 | PL | Hold | Pelican constellation slipping; pricing power still unproven. Held off Buy upgrade. |
| 2026·03·12 | VELO | Hold | Cash runway narrow; awaiting new financing or strategic resolution. Moved down from Buy. |
| 2026·02·28 | IRDM | Hold | Defensive cash flows intact but ASTS represents structural long-term competitive risk. |
| 2026·01·20 | HEI | Buy | Initiated coverage. Compounder profile, pricing power, defense supply chain exposure. |