THE FULL SPACE VALUE CHAIN
Really interesting seeing how differently major space companies are positioned across launch, manufacturing, spectrum & services heading into 2028:
• $RKLB combines rockets, satellite manufacturing & defense with Iridium global spectrum and 2.55M+ existing subs
• $SPCX controls launch, satellite manufacturing & Starlink through its vertically integrated network
• $ASTS connects everyday smartphones directly to satellites using large arrays & carrier spectrum
• $PL operates Earth observation satellites & sells imagery, data & analytics
• $FLY builds launch vehicles, lunar landers & defense systems
• $YORK manufactures satellites for Pentagon constellations & defense programs
• $RDW supplies spacecraft components, sensors & mission hardware
• $BKSY operates imaging satellites & delivers real time geospatial intelligence
You can also see below how the bigger opportunity in space is shifting toward owning scarce spectrum, infrastructure and recurring customer relationships.