The SpaceX IPO is expected to be a pivotal moment for the space economy. Analysts point to accelerating capital inflows, stronger fundamentals, and a broad sector re-rating beyond just one company.
Deutsche Bank tracks 50 listed space companies globally with a combined market cap of $402B, which is 3.5 times higher year over year. The Bloomberg Space Economy index is up 85% over the past 12 months, far outperforming the Nasdaq's 15% gain. In 2026, average sector market caps are up 138%.
Bloomberg Intelligence notes the industry is transitioning from the infrastructure buildout phase (2021–2023) to monetization, with stabilizing free cash flow and rising revenues. Defense-linked orbital tracking firms show the strongest fundamentals due to long-term government contracts, while space data and AI companies are growing faster but remain loss-making with stretched valuations.
Europe leads in profitability with a 6.9% median net margin, while US firms spend heavily on R&D, at about 9.1% of sales.
$Rocket Lab USA, Inc.(RKLB)$ $Viasat(VSAT)$ SPACZZX.P
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