The new space economy

More of life on Earth will run through space.

By Maya Brooks

What’s inside

• RKLB Rocket Lab: Space launch and satellite systems; clearest listed proxy for falling launch costs
• ASTS AST SpaceMobile: Satellite-to-phone network development puts ordinary handsets on an orbital network
• IRDM Iridium: Satellite communications already carrying everyday terrestrial traffic
• GOOGL Alphabet: Project Suncatcher put its own AI chips in orbit — the first real orbital data-center test
• AMZN Amazon: Kuiper constellation and AWS tie its cloud directly to orbital capacity
• VRT Vertiv: Power and heat rejection is the stated bottleneck for data centers on Earth and in orbit
• LMT Lockheed Martin: Aerospace and defense systems; prime contractor for national space architecture
• NOC Northrop Grumman: Defense and space systems, including satellites and sensing payloads
• RTX RTX: Aerospace and defense equipment feeding space sensing and missile-warning programs
• HON Honeywell: Industrial automation and sensing; avionics and controls across space and aviation systems
• TDY Teledyne Technologies: Space-qualified imaging and electronics ride on nearly every satellite bus

Why it could work

More of life on Earth will run through space. The basket combines direct participants and broader suppliers.

What could break it

Adoption could disappoint, competition could weaken margins, or high valuations could already price in the trend. Some holdings are broad, indirect proxies.

For learning only. Not investment advice.