SpaceX dominates the headlines, but the forces behind its growth extend well beyond one company. Right now, governments are pouring billions into next-generation defense systems. Telecoms are racing to eliminate connectivity dead zones. And demand for satellite communications keeps accelerating as commercial ambition and national security priorities converge on the same problem at the same time.
But investors who missed SpaceX’s run may have another way in, not through the rocket company itself, but through the businesses building the networks, supplying the hardware, and preparing governments for a future where access to space stops being optional.
Here are 3 stocks worth looking into.
AST SpaceMobile Is Trying To Turn Space Into A Cell Tower
While most companies are promising connectivity, AST SpaceMobile (NASDAQ: ASTS) is pursuing something far more ambitious: allowing ordinary smartphones to connect directly to satellites without specialized hardware
Its first-quarter update showed a business moving from concept toward commercialization. Management is targeting approximately 45 BlueBird satellites in orbit by the end of 2026 while continuing to expand agreements with telecom partners around the world. The company now works with nearly 60 mobile network operators covering more than 3 billion subscribers and expects full-year revenue between $150 million and $200 million. It also finished the quarter with roughly $3.5 billion in cash, giving it one of the strongest balance sheets among emerging space companies.
AST also achieved peak download speeds of 98.9 Mbps directly to an unmodified smartphone and continues scaling production, with BlueBird satellites already in advanced stages of assembly.
No wonder why the stock exploded to roughly $130 earlier this year before retreating toward the mid-$80s. The stock now sits below its 20-day and 50-day moving averages while remaining above its 200-day trend line. Volume surged during the recent pullback, suggesting investors are reassessing timelines rather than abandoning the story altogether.
For AST, the conversation has moved past whether direct-to-device connectivity works to how quickly management can convert technological leadership into meaningful revenue.
Kratos Is Building The Defense Infrastructure
Kratos Defense And Security Solutions Inc (NASDAQ: KTOS) sits at the intersection of space and defense budgets. The company develops systems supporting satellites, missile defense programs, hypersonic initiatives, drones, propulsion systems, and military communications. While investors often focus on launches and satellites, governments increasingly care about the infrastructure supporting them.
First-quarter results showed demand accelerating across the business. Revenue rose 22.6% to $371 million while organic growth reached 15.8%. Bookings totaled $605 million, producing a book-to-bill ratio of 1.6 and helping backlog climb to more than $2 billion. Management subsequently raised full-year guidance, citing what it described as a generational recapitalization of the U.S. defense industrial base. Those numbers suggest current growth is not coming from a single contract or isolated program. Demand is broadening across multiple areas tied to national security spending.
Not surprisingly, the chart tells a completely different story.
Shares have fallen from about $130 earlier this year to the mid-$50s and remain below their 20-day, 50-day, and 200-day moving averages. The long-term downtrend remains intact, and buyers have repeatedly failed to establish sustained momentum. At the same time, that disconnect reveals that Wall Street is focused on recent price weakness while management is talking about expanding budgets, rising backlog, and increasing demand across several strategic programs. If those trends continue, fundamentals may eventually force investors to revisit the stock.
Karman Holdings May Be The Most Overlooked Name On This List
Unlike AST or Kratos, Karman Holdings Inc (NYSE: KRMN) remains largely unknown outside aerospace circles. But I suspect that may not last. The company supplies critical systems used across strategic missile defense, launch vehicles, tactical missile programs, and other national security applications. In other words, Karman benefits from growing demand for access to space without depending on consumer-facing excitement.
Its first-quarter results were also difficult to ignore as revenue jumped 51% year over year to $151.2 million. Adjusted EBITDA increased 47% to $44.8 million. Backlog reached approximately $1.6 billion, and management raised full-year revenue guidance to between $720 million and $735 million while increasing EBITDA expectations to as much as $215 million.
Those are the numbers investors typically associate with a stock making new highs. Instead, Karman shares have collapsed from around $115 earlier this year to roughly $52.
The chart shows a stock trading beneath every major moving average after months of sustained selling pressure. Yet recent price action suggests sellers may be losing control. Shares have started stabilizing near support around the low-$50 range even as the underlying business continues producing record revenue and record earnings.
As you probably know, sometimes the market gets ahead of fundamentals. Sometimes fundamentals catch up.
So before investors eventually decide whether a company growing revenue by more than 50% deserves to trade like a business in decline, grabbing some shares now could put me ahead of the curve.
The Trend Is Bigger Than Any Single Company
SpaceX helped investors recognize the opportunity. But the next chapter may belong to the companies building the networks, infrastructure, and systems surrounding it. As you’ve already seen – AST SpaceMobile, Kratos,and Karman – sit at the centre of it all.
