Rocket Lab, Planet Labs Surge 372% and 1,017% on Government Deals and Space Growth
Updated
Updated · The Motley Fool · May 27
Rocket Lab, Planet Labs Surge 372% and 1,017% on Government Deals and Space Growth
12 articles · Updated · The Motley Fool · May 27
Rocket Lab and Planet Labs have emerged as standout listed space plays as investor attention builds around a SpaceX IPO and a space economy McKinsey sees reaching $1.8 trillion by 2035.
Rocket Lab posted record first-quarter revenue of $200 million and a $2.2 billion backlog, supported by an $816 million missile-defense satellite contract and a $190 million hypersonic test-flight deal.
That growth is paired with expansion beyond small launches: Rocket Lab’s Electron remains a key product, while its medium-lift Neutron rocket is expected to debut later this year.
Planet Labs is pitching faster, AI-driven Earth observation, using Nvidia chips on its Pelican-4 satellite to turn imagery into insights in minutes for defense, agriculture and other customers.
Planet has also won a SHIELD role with the Missile Defense Agency and more than $500 million in deals with Sweden, Japan and Germany, underscoring rising government demand for space-based data.
With SpaceX losing billions, can smaller rivals justify massive stock gains and actually deliver profits to investors?
As orbital data centers face a power crisis, which energy source will ultimately win the new space race?
Rocket Lab and Planet Labs Drive 2026 Space Stock Rally: Financials, Risks, and the SpaceX Effect
Overview
In May 2026, space stocks surged, led by Rocket Lab and Planet Labs PBC, as the sector gained momentum from the release of the SpaceX prospectus and a successful Starship launch. Rocket Lab’s stock climbed sharply, driven by strong growth expectations and a major $90 million contract win, which validated its recent strategic acquisitions. These moves positioned Rocket Lab at a premium compared to traditional aerospace firms. The rally extended to other companies like Redwire and Firefly Aerospace, reflecting broad investor enthusiasm and highlighting the impact of key industry events on the commercial space market.