Top 9 SpaceX Alternatives: Best Space Stocks to Buy Now
The top alternatives to SpaceX (SPCX-Q) are Rocket Lab, AST SpaceMobile, Intuitive Machines, and Planet Labs. Each trades publicly today and gives exposure to launch, satellite broadband, lunar, or Earth-observation markets. For diversified exposure, the Procure Space ETF (UFO) holds more than 50 space names in one ticker.
Why Look for Alternatives to SpaceX Stock?
Investors seek SpaceX alternatives because SPCX is overvalued on independent models, and retail IPO allocation is limited. Every published independent valuation lands below the $135 offer price. Morningstar values SpaceX at $63 per share, roughly 53% under the offer (Morningstar, June 2026).
Public space stocks trade at a fraction of SpaceX’s near 90-times-sales multiple. Most also sit at lower absolute prices, which suits smaller positions. The SpaceX IPO has drawn attention across the whole sector, so the alternatives benefit from the same investor interest.
The opportunity set is wide. Morgan Stanley published a Space 60 list covering public companies across the space supply chain, from raw materials to satellite services (24/7 Wall St., May 2026).
The Eight Alternatives to SpaceX to Consider Right Now
The stocks below are the most direct SpaceX analogues by business segment.
1. Rocket Lab (RKLB-Q)
Rocket Lab (RKLB-Q) is the strongest direct alternative to SpaceX, with both a launch business and a space-systems business. Rocket Lab launched its small Electron rocket 21 times in 2025 at a 100% success rate. Founder Peter Beck runs the company.
Rocket Lab posted record Q1 2026 revenue of $200.3 million, up 64% year over year, with a backlog above $2.2 billion (Benzinga, May 2026). GAAP gross margin reached 38.2%.
“With revenue, we topped $200 million in the quarter for the first time.”
Peter Beck, CEO, Rocket Lab, via Benzinga (2026)
The key catalyst is Neutron, a reusable medium-lift rocket built to compete with SpaceX’s Falcon 9. A tank test setback in January 2026 pushed the Neutron debut to a July to December 2026 window. A failed maiden launch is the main risk to the Rocket Lab thesis.
2. AST SpaceMobile
AST SpaceMobile (ASTS-Q) is the closest public alternative to Starlink’s direct-to-cell business. AST SpaceMobile connects standard, unmodified smartphones directly to its satellites. AST SpaceMobile has partnerships with both AT&T and Verizon.
AST SpaceMobile became a revenue business in 2025, its first, reporting $70.9 million (U.S. News, May 2026). The FCC granted commercial direct-to-device authorization in April 2026, covering up to 248 satellites on 700 MHz and 800 MHz spectrum.
AST SpaceMobile is the highest-risk name on this list. A BlueBird satellite launched on Blue Origin’s New Glenn in April 2026 reached an inadequate orbit and will be de-orbited. New Glenn was grounded by the FAA after the flight. Satellite assembly and launch delays remain the core execution risk for AST SpaceMobile.
3. Intuitive Machines (LUNR-Q): the lunar play {#lunr}
Intuitive Machines (LUNR-Q) is the best pure-play alternative for lunar and cislunar exposure. Intuitive Machines designs and operates lunar landers and surface-delivery systems tied to NASA’s Artemis program and commercial missions.
Intuitive Machines guided 2026 revenue to between $900 million and $1 billion, nearly five times its trailing $210 million (24/7 Wall St., May 2026). The company holds a backlog near $943 million and a market cap around $4.4 billion.
The growth comes with integration risk. Intuitive Machines acquired Lanteris Space Systems for about $800 million in 2026, a deal that carries execution risk and added balance-sheet pressure. The SpaceX IPO raises scrutiny on lunar infrastructure, which supports the Intuitive Machines mission pipeline.
4. Planet Labs (PL-N): the Earth-observation play {#pl}
Planet Labs (PL-N) is the leading public alternative for satellite imaging and Earth-observation data. Planet Labs operates one of the largest Earth-observation satellite fleets in orbit. Government and commercial customers drive a growing contract backlog.
Planet Labs sells recurring data subscriptions rather than one-off launches. That model gives Planet Labs steadier revenue than launch-dependent peers. Defense and intelligence demand for satellite imagery has risen across 2025 and 2026.
Newer Space IPOs: Firefly, Redwire, and Voyager
Firefly Aerospace, Redwire, and Voyager Technologies are recent space IPOs that offer newer, higher-growth alternatives to SpaceX. Each is listed publicly and posts fast revenue growth off a small base.
- Firefly Aerospace (FLY-Q): a launch and lunar-lander company. Firefly posted Q1 2026 revenue of $80.9 million and guided full-year revenue to $420 million to $450 million. Firefly runs a medium-lift rocket partnership with Northrop Grumman.
- Redwire (RDW-N): a space-infrastructure and in-space manufacturing firm. Redwire reported Q1 2026 revenue of $97.0 million, up 57.9% year over year, with a record backlog of $498.1 million.
- Voyager Technologies (VOYG-N): a defense and space-station company behind Starlab. Voyager guided 2026 revenue to $225 million to $255 million on a backlog of $265.6 million.
These stocks are more volatile than Rocket Lab. Each depends on hitting near-term milestones to justify its valuation.
The 3 Top Space ETFs
- The Procure Space ETF (UFO) is the cleanest single-ticker alternative to SpaceX, holding more than 50 space companies. UFO spreads risk across launch, satellite, and imaging names in one position. Top holdings include Planet Labs, EchoStar, Sirius XM, Viasat, and Rocket Lab (Gotrade, May 2026).
- A second option is the ARK Space and Defense Innovation ETF (ARKX), which blends space and defense holdings. Both ETFs reduce single-stock risk versus owning one launch company.
- One indirect route reaches SpaceX itself. After SpaceX joins the Nasdaq-100, expected around July 6, 2026, any Nasdaq-100 fund, such as Invesco QQQ, will hold SPCX automatically. A space ETF plus a Nasdaq-100 fund gives broad sector exposure without buying SPCX at a premium open.
The Top SpaceX Alternatives Compared
Rocket Lab leads on diversification and analyst consensus, while ETFs lead on risk control. The table summarizes each alternative by segment, latest revenue, and risk profile.
| Company (Ticker) | Space segment | Latest revenue | 2026 catalyst | Risk profile |
| Rocket Lab (RKLB-Q) | Launch and space systems | $200.3M Q1 2026 | Neutron debut | Moderate |
| AST SpaceMobile (ASTS-Q) | Direct-to-cell broadband | $70.9M FY2025 | FCC rollout | High |
| Intuitive Machines (LUNR-Q) | Lunar landers | $210M trailing | $900M to $1B guide | High |
| Planet Labs (PL-N) | Earth observation | Recurring subscriptions | Backlog growth | Moderate |
| Firefly Aerospace (FLY-Q) | Launch and lunar | $80.9M Q1 2026 | Blue Ghost missions | High |
| Redwire (RDW-N) | Space infrastructure | $97.0M Q1 2026 | Backlog conversion | Moderate |
| Voyager Technologies (VOYG-N) | Defense and space station | $166.4M FY2025 | Starlab station | High |
| Procure Space ETF (UFO) | Diversified, 50-plus names | Fund of holdings | Sector growth | Low to moderate |
| ARK Space and Defense ETF (ARKX) | Diversified space and defense | Fund of holdings | Sector growth | Low to moderate |
When Should You Not Buy Space Stocks?
Avoid space stocks if you cannot tolerate sharp drawdowns, because most space companies are unprofitable and trade on milestones, not earnings. The sector swings hard on single events. Rocket Lab, Planet Labs, and Intuitive Machines all fell 5% to 9% in a single session in May 2026 on no company-specific news.
Execution risk is the defining feature. A Rocket Lab Neutron test failure already pushed the debut to late 2026. An AST SpaceMobile satellite reached a bad orbit on a now-grounded New Glenn rocket. A single failed launch can compress a space stock’s multiple fast.
Size space positions for volatility, not for certainty. A diversified ETF like UFO suits investors who want sector exposure without single-stock blowup risk. For direct positions, Rocket Lab offers the most balanced mix of revenue, backlog, and proven launch cadence among the pure-play alternatives to SpaceX.
Frequently Asked Questions About SpaceX Alternatives
Let’s see answers to some of the questions you may have about alternatives to SpaceX
What is the best alternative to SpaceX stock?
Rocket Lab (RKLB-Q) is the most direct alternative to SpaceX. Rocket Lab runs both a launch business and a space-systems business, posted record Q1 2026 revenue of $200.3 million, and holds a backlog above $2.2 billion. Its Neutron rocket aims to compete with SpaceX’s Falcon 9. Rocket Lab holds the strongest analyst consensus among pure-play space stocks in 2026.
How can I get SpaceX exposure without buying the IPO?
Buy a Nasdaq-100 ETF such as Invesco QQQ, which will hold SPCX automatically after SpaceX joins the index around July 6, 2026. A space ETF like the Procure Space ETF (UFO) adds diversified sector exposure. Both routes avoid paying a premium for SPCX shares at a volatile market open on June 12, 2026.
Which SpaceX alternative is the riskiest?
AST SpaceMobile (ASTS-Q) and Intuitive Machines (LUNR-Q) carry the highest risk. AST SpaceMobile depends on launching a large satellite constellation, and a recent satellite reached a bad orbit on a grounded rocket. Intuitive Machines is integrating an $800 million acquisition. Both offer high upside if they execute, but both can fall sharply on a single failed milestone.
Are space stocks a good investment in 2026?
Space stocks suit investors who accept high volatility for long-term growth potential. The sector is growing on strong government spending and rising commercial satellite demand. Most names are unprofitable and trade on milestones, not earnings. A diversified space ETF reduces single-stock risk. Defense primes like Lockheed Martin offer space exposure inside profitable, dividend-paying businesses.
What is the cheapest way to invest in the space sector?
A space ETF is the most cost-efficient single position. The Procure Space ETF (UFO) holds more than 50 space companies in one ticker, which spreads risk and lowers research time. Individual stocks like Rocket Lab or AST SpaceMobile cost less per share than SpaceX’s $135 IPO price, but each carries higher single-stock risk than a diversified fund.
How does Rocket Lab compare to SpaceX?
Rocket Lab is far smaller than SpaceX but follows a similar model. Rocket Lab launched its Electron rocket 21 times in 2025 and is building the reusable Neutron rocket to compete with SpaceX’s Falcon 9. SpaceX leads on scale, with more annual launches than the rest of the world combined. Rocket Lab trades publicly today, while SpaceX lists on June 12, 2026.
