Wall Street is buzzing over reports of SpaceX’s supposedly imminent initial public offering. Market mavens point to a June, 2026 IPO, with the stock trading under the symbol SPCX on Nasdaq.

The SpaceX c-suite, led by founder Elon Musk, has expectations for the stock and space technology markets, which Musk has implied are a whopping $28.5 trillion. Depending on which analyst or report you believe, Musk’s rocket and satellite powerhouse could debut at a valuation between $1.5 trillion and $2 trillion, potentially making it the largest IPO in Wall Street history.

Yet here’s the thing. Anxious investors don’t have to wait for a SpaceX IPO in June; not when multiple sector stocks are offering a big bite of the space market, which includes, among other sectors, rocket launch systems, mission-critical space technology, defense systems, and satellite telecommunications.

Here are three space stocks ready to take off.

Make no mistake, there’s some serious upside here. The Global X Space Tech RTF (NASDAQ:ORBX) is up over 25% year to date, while the Procure Space ETF (NASDAQ:UFO), which launched in 2019, is up about 50% year-to-date.

One smart way to get in on the ground floor of the space industry is to eyeball some smaller, under-the-radar sector stocks that are taking flight. 

Momentus

Santa Jose, Cal.-based in-space infrastructure services company Momentus (NASDAQ:MNTS), which specializes in space transportation and in-orbit servicing, is up a whopping 55% year-to-date and up 34% in the last month alone.

Momentus is aptly named, as it’s already making a big name for itself in 2026’s top momentum sector. In March, MNTS rolled out its Vigoride 7 orbital service, in tandem with SpaceX’s Transporter 16, holding 10 payloads, “including demonstrations of autonomous rendezvous and proximity operations (RPO), in‑space assembly technologies, and advanced satellite servicing functions — all key growth areas in the emerging on‑orbit economy,” the company noted in a March 31 statement.

MNTS is also well-positioned in the lucrative U.S. defense and space realm, and is a main player in the Missile Defense Agency’s SHIELD contract vehicle tied to the Golden Dome missile defense initiative. 

In a May 5 letter to shareholders, Momentus’ c-suite noted positive trends for the company and its stock, including an update to FY2027 U.S. Space Force budget request of $71 billion, more than double last year’s allocation, which “potentially represents an historic inflection in government space spending,” the company stated. In the letter, MNTS also noted forecasted revenue of $10.0 million in 2026, a 9-times increase over $1.1 million in 2025, “driven by milestone-based contracts with NASA and the U.S. Department of Defense,” the letter added.

Trading at a low of $7.5 as of May 21, Momentus makes a good case for future, long-term growth in a dynamic space services industry. The second half of 2026 could be its time to really shine.

Redwire

As the SpaceX IPO saga plays out, it’s increasingly clear that while rocket launches attract the headlines, the long-term space economy may ultimately be built around infrastructure (think satellites, communications systems, manufacturing platforms, and orbital technologies)

That’s where Redwire (NYSE:RDW) makes its hay. The six-year-old Jacksonville, Fla.-based space equipment provider specializes in critical space solutions and reliability components for the next-generation space economy, with IP for solar power generation and in-space 3D printing and manufacturing. Even though the company technically underperformed its earnings forecasts, reporting a 0.40% per-share loss on $96.7 million in sales (another moderate miss for RDW). Yet its upside is robust, with sales up 58% on a year-to-year basis, gross profit margins up 26%

The space stock “missed” earnings forecasts, reporting a $0.40-per-share loss on $96.7 million in sales (both below expectations). On the other hand, Redwire did grow its sales nearly 58% year over year, increase its gross profit margin to 26.6%, and collect significant new orders in the quarter, with new contracts rolling in at twice the pace seen in 2025.

Wall Street analysts are showing greater interest in the stock, with H.C. Wainwright setting a $22 price target, implying a 44% upside.

Planet Labs

You can’t blame investors for viewing space investing primarily through a rocket lens, but like space itself, there’s a lot more area to cover.

Take the data generated from space, which is exactly the investment thesis behind Planet Labs (NYSE:PL).

Trading at $43 per-share as of May 21, Planet Labs operates one of the world’s largest fleets of Earth-imaging satellites (at about 200), collecting high-frequency data used across agriculture, defense, climate analysis, logistics, and intelligence applications. Planet relies on recurring subscriptions for imagery, analytics, AI-driven monitoring, and government intelligence services. It’s ‘so far, so good’ on that front, as approximately 90% of PL’s customers have engaged using subscription-based services.

The stock is booming, up 115% year-to-date, 77.4% over the past three months, and 1,054% over the past year.

Can PL sustain that pace?

Not entirely, as gravity and skittish sentiment on the stock is to be expected, but Planet Labs seems like it’s here for the long haul.

“Planet Labs is poised for long-term growth as it reduces warrant overhang, accelerates revenue, and increases investment in satellite infrastructure,” Benzinga analysis noted. “Its partnerships with Anthropic and Google position it at the forefront of the emerging AI market, which is a key driver for commercial value creation.”

Additionally, geopolitical tensions and the need for earth observation data in the defense sector “are driving strong demand for Planet Labs’ products, leading to a beat and raise quarter and a positive outlook for future revenue growth.”

Caution is advised, however, as pedigreed analysts like Citi and Goldman Sachs see PL’s share price declining in the short term, which bears watching. Yet each has a Hold (Goldman) and a Buy (Citi) on the stock right now.

It’s the long-term that makes PL a solid portfolio addition. After all, there’s little doubt global governments worldwide are beefing up defense-related space spending. That’s especially the case as satellite broadband systems are in high demand (about 60% of PL’s 2025 revenue came from the defense sector) and as AI systems are creating new demand for Earth observation and orbital data networks.

With space-driven data a big priority, Planet Labs is worth some tire-kicking for 2026 and well beyond.