US space tech vs global space technology: which space basket?

The space theme comes in two shapes. US Space Tech is a concentrated sleeve of roughly 10 US-listed New Space pure-plays, already tracked by a licensed ETF. Global Space Technology spreads about 30 developed-market names across the US, Europe, Japan, and Canada, adding profitable operators and three government funding cycles. This page compares breadth, concentration, profitability, currencies, and investability.

How do they differ?

DimensionUS Space TechGlobal Space Technology
Geography & universe breadthAbout 10 US-listed pure-plays on Nasdaq and NYSEAbout 30 developed-market names across the US, Italy, France, Japan, Canada, and the UK, ex China/India/Korea/Taiwan
ConcentrationConcentrated: a handful of names like Rocket Lab, AST SpaceMobile, and Intuitive Machines dominate outcomesDiversified: 30 names dilute single-mission risk, though large constituents still anchor the basket
Pure-play intensity vs profitabilityMostly pre-profit New Space pure-plays priced on milestones; Rocket Lab lost $198.2M in 2025 despite record revenueBlends pure-plays with profitable operators and diversified industrials: Viasat ($1.6B FY2026 adj. EBITDA), Iridium, MDA Space, HEICO, TransDigm
Currency & listing riskSingle market, single currency (USD)Trades in dollars, euros, yen, and Canadian dollars across five-plus exchanges, adding FX swings and varied disclosure regimes
Government-customer mixOne government cycle: NASA, the Pentagon, and US civil budgetsThree separately funded cycles: US budgets, ESA's record 22.3B euro commitment plus the EU's 10.6B euro IRIS2, and Japan's 1 trillion yen Space Strategy Fund
Investability (ETF availability)Tracked: the Korea-listed TIGER US Space Tech ETF (0183J0) follows the Akros U.S. Space Tech IndexNot yet tracked: the Akros Global Space Technology Index (AGSPCT, published 2026-05-29) has no licensed ETF, so exposure means individual names

When does US space tech make sense?

US Space Tech suits an investor with conviction in American New Space who wants maximum exposure per dollar to the commercial buildout. The names are pure: Rocket Lab flew a record 21 Electron missions in 2025 and grew revenue 38% to a record $601.8 million, though it still lost $198.2 million (Rocket Lab). Concentration cuts both ways, since a single failed mission can erase a thesis, as Intuitive Machines’ tipped-over Athena lander showed in 2025 (NASA). Practical access is also simpler: the Korea-listed TIGER US Space Tech ETF (0183J0) tracks the Akros U.S. Space Tech Index (Mirae Asset TIGER), so the sleeve is investable in one trade.

When does global space technology make sense?

Global Space Technology suits an investor who wants the whole space economy, not just its American chapter, and who values smoother fundamentals across the basket. The global version adds profitable anchors: Viasat earned record fiscal 2026 revenue of $4.6 billion with $1.6 billion of adjusted EBITDA (Viasat), Iridium produced $114.4 million of 2025 net income (Iridium), and MDA Space grew Q1 2026 revenue 32.2% to C$464.1 million (MDA Space). It also taps government money a US basket never touches: ESA member states committed a record 22.3 billion euros in November 2025 (ESA), the EU signed the 10.6 billion euro IRIS2 constellation (European Commission), and Japan funds its industry through a 1 trillion yen Space Strategy Fund (JAXA). Beneficiaries like Avio, which grew 2025 revenue 22.7% to 541.7 million euros (Avio), exist only outside US listings. The trade-offs: multi-currency exposure, and no licensed tracking ETF yet for the Akros Global Space Technology Index (Akros Technologies).

Verdict: which fits which investor?

US Space Tech is the concentrated, higher-octane sleeve: about 10 US pure-plays priced on milestones, already investable through a licensed ETF. Global Space Technology is the diversified version: 30 names across three government funding cycles, adding profitable operators like Viasat, Iridium, and MDA Space at the cost of currency risk and, so far, no tracking ETF. The US sleeve suits conviction in American New Space; the global sleeve suits investors who want the whole buildout with fewer single-name cliffs.

Related concepts & themes

FAQ

Should I choose US space tech or global space technology?

It depends on whether you want concentration or breadth. The US sleeve holds roughly 10 pure-plays and amplifies both upside and single-mission risk; the global sleeve spreads about 30 names across the US, Europe, Japan, and Canada and adds profitable anchors like Viasat, with record fiscal 2026 revenue of $4.6 billion (Viasat), and Iridium, with $871.7 million of 2025 revenue and $114.4 million of net income (Iridium). Both ride the same space economy projected to triple to $1.8 trillion by 2035 (World Economic Forum).

Do the two space concepts overlap?

Yes, deliberately. The global basket includes the major US names, so Rocket Lab, Planet Labs, Globalstar, EchoStar, Intuitive Machines, and AST SpaceMobile appear in both. What the global version adds is everything a US-only mandate cannot hold: Italy's Avio, which grew 2025 revenue 22.7% to 541.7 million euros (Avio), Canada's MDA Space, up 32.2% in Q1 2026 (MDA Space), Japan's Astroscale, plus established satcom operators like Viasat and Iridium.

Is there an ETF for either concept?

Only for the US side so far. The Korea-listed TIGER US Space Tech ETF (0183J0) from Mirae Asset tracks the Akros U.S. Space Tech Index (Mirae Asset TIGER). The Akros Global Space Technology Index (AGSPCT), published May 29, 2026, frames the 30-stock global universe but has no licensed tracking ETF yet (Akros Technologies), so global exposure today means individual names such as Viasat, Iridium, Avio, or MDA Space. Always check fees, holdings, and risk before investing.

Which side is riskier?

Per name, the US side: it is dominated by pre-profit companies priced on milestones, where one failed mission can erase a thesis, as Intuitive Machines' tipped-over Athena lander showed in 2025 (NASA). As a basket, the global side trades that concentration for different risks: currency swings across the dollar, euro, yen, and Canadian dollar, plus exposure to European and Japanese budget politics alongside the record 22.3 billion euros ESA just committed (ESA).

Sources & references

  1. Akros Global Space Technology Index (AGSPCT) · Akros Technologies, Inc., 2026-05-29
  2. MiraeAsset TIGER US Space Tech ETF (0183J0) · Mirae Asset, 2026-04-10
  3. Space: The $1.8 Trillion Opportunity for Global Economic Growth · World Economic Forum, 2024-04-08
  4. ESA Member States commit to largest contributions at Ministerial · European Space Agency, 2025-11-27
  5. Commission takes next step to deploy the IRIS2 secure satellite system · European Commission (DG Defence Industry and Space), 2024-12-16
  6. Overview of the Space Strategy Fund (SSF) · Japan Aerospace Exploration Agency (JAXA), 2025-01-01
  7. Viasat Q4 FY26 Shareholder Letter (Form 8-K, Exhibit 99.2) · Viasat, Inc. / SEC EDGAR, 2026-05-28
  8. Iridium Announces 2025 Results; Issues 2026 Outlook · Iridium Communications Inc., 2026-02-12
  9. FY 2025 Results: Record-High Order Backlog and Revenues, Growth Path to Continue in 2026 · Avio S.p.A., 2026-03-12
  10. MDA Space Reports First Quarter 2026 Results · MDA Space Ltd., 2026-05-07
  11. Rocket Lab Announces Fourth Quarter and Full Year 2025 Financial Results · Rocket Lab Corporation / Nasdaq, 2026-02-26
  12. NASA Selects Intuitive Machines to Deliver Artemis Science, Tech to Moon · NASA, 2025-01-01