Global Space Technology

Global space technology is the worldwide version of the space investing theme: roughly 30 developed-market companies across the United States, Europe, Japan, and Canada that build and launch rockets, operate satellite networks, image the Earth, and service spacecraft in orbit. It pairs early-stage New Space names with profitable operators, riding a space economy projected to triple by 2035.

CategoryThematic / Space economy (global)
Representative companies11
Related indexAkros Global Space Technology Index (AGSPCT)
Last updated2026-06-11
Key takeaways
  • Global space technology is the worldwide version of the space theme: roughly 30 developed-market companies across the United States, Europe, Japan, and Canada that build, launch, and operate the hardware and services of the space economy.
  • The global space economy reached about $613 billion in 2024 and is projected to roughly triple to $1.8 trillion by 2035, growing about 9% a year, faster than global GDP.
  • Governments are funding the buildout on three continents: ESA member states committed a record 22.3 billion euros in November 2025, the EU signed the 10.6 billion euro IRIS2 constellation, and Japan runs a 1 trillion yen Space Strategy Fund.
  • The mix spans launch (Rocket Lab, Avio), satellite communications (Viasat, Iridium, EchoStar, AST SpaceMobile, Globalstar), Earth observation (Planet Labs, MDA Space), lunar missions (Intuitive Machines), and debris removal (Astroscale).
  • The Akros Global Space Technology Index (AGSPCT) frames the 30-stock universe; it has no licensed tracking ETF yet, while the US-only sibling concept is tracked by the TIGER US Space Tech ETF.

What is global space technology investing?

Global space technology investing means owning the space economy where it actually lives: everywhere. The basket holds about 30 developed-market companies, from US launch and satellite names to Europe’s rocket prime Avio, Canada’s MDA Space, and Japan’s Astroscale, spanning upstream hardware and downstream services. The prize is large and growing: the global space economy reached about $613 billion in 2024, up 7.8% year over year, with the commercial sector at roughly 78% of the total (Space Foundation). A World Economic Forum and McKinsey study projects it will roughly triple to $1.8 trillion by 2035, growing about 9% a year, faster than global GDP (World Economic Forum).

How is this different from US space tech?

The short answer is breadth versus concentration. US Space Tech is a concentrated sleeve of roughly 10 US-listed pure-plays, heavy on pre-profit launch and lunar companies. Global Space Technology spreads about 30 names across five-plus exchanges and adds two things a US-only basket cannot hold: non-US national champions and established cash generators. Europe contributes Avio, which grew 2025 revenue 22.7% to 541.7 million euros on a record 2.17 billion euro backlog (Avio), plus Leonardo and Eutelsat. Canada adds MDA Space, which grew Q1 2026 revenue 32.2% to C$464.1 million (MDA Space). Japan adds Astroscale and ispace. The profitable anchors include Viasat, with record fiscal 2026 revenue of $4.6 billion and $1.6 billion of adjusted EBITDA (Viasat), and Iridium, which earned $114.4 million of net income on $871.7 million of 2025 revenue (Iridium).

Why now? What is the thesis for global space technology?

The thesis is that the space buildout is now funded on three continents at once, not just in Washington. Launch cadence keeps breaking records, with 4,510 objects launched into space in 2025 against the prior record of 2,903 in 2023 (Yale Environment 360), and Rocket Lab alone flew a record 21 Electron missions in 2025 (Via Satellite).

Europe is the newest leg. At the November 2025 ministerial in Bremen, ESA member states committed a record 22.3 billion euros, a 31% increase over the previous round (ESA).

“This is a great success for Europe, and a really important moment for our autonomy and leadership in science and innovation.”

— Josef Aschbacher, ESA Director General (ESA)

The European Union separately signed a 12-year concession on December 16, 2024 for IRIS2, a 290-satellite secure constellation worth 10.6 billion euros, with the SpaceRISE consortium of SES, Eutelsat, and Hispasat targeting services by 2030 (European Commission; SES). Japan runs a 1 trillion yen, 10-year Space Strategy Fund through JAXA to double its domestic space market to 8 trillion yen by the early 2030s (JAXA), and JAXA awarded Astroscale a roughly 13.2 billion yen contract for the ADRAS-J2 debris-removal mission (JAXA). Direct-to-device is a third pull: AST SpaceMobile holds commercial deals with more than 50 mobile operators reaching nearly 3 billion subscribers (AST SpaceMobile).

Who should consider global space technology?

This concept fits a growth-oriented investor who wants the whole space buildout in one diversified basket, and an allocator who needs more investable names than a US-only sleeve offers. The diversification is real: the global mix blends pre-profit growth stories with operators that already make money, like Viasat with nearly $600 million of fiscal 2026 free cash flow including a one-time Ligado payment (Viasat) and MDA Space guiding to C$1.7 to 1.9 billion of 2026 revenue (MDA Space). It also spreads policy risk across three separately funded government cycles: NASA and the Pentagon, ESA’s record 22.3 billion euro commitment (ESA), and Japan’s 1 trillion yen fund (JAXA).

It is still a high-volatility satellite position, not a core holding. Several members lose money at scale: Astroscale reported a 7.1 billion yen operating loss for the nine months to January 2026 even as business revenue grew 125% (Astroscale), and Intuitive Machines posted a $52.5 million quarterly net loss despite record revenue (Intuitive Machines). An income-focused or capital-preservation investor should look elsewhere, and anyone buying should expect launch failures, schedule slips, and dilution along the way.

Which companies represent global space technology?

CompanySectorWhat it does
Rocket Lab (RKLB) Space · Launch & Spacecraft (US) Vertically integrated US launch and space-systems company; flew a record 21 Electron missions in 2025, is developing the medium-lift Neutron, and ended Q1 2026 with a $2.2 billion backlog.
Planet Labs (PL) Space · Earth Observation (US) Operates one of the largest Earth-imaging satellite fleets and sells subscription geospatial data and analytics; grew backlog about 79% to over $900 million in fiscal 2026.
Viasat (VSAT) Space · Satellite Communications & Defense (US) Global satellite communications company spanning in-flight connectivity, maritime, government satcom, and defense technology; posted record fiscal 2026 revenue of $4.6 billion after acquiring Inmarsat.
Globalstar (GSAT) Space · Mobile Satellite Services (US) Runs a low-Earth-orbit constellation whose wholesale capacity powers direct-to-device features such as Emergency SOS for a major technology partner; agreed in April 2026 to be acquired by Amazon.
EchoStar (SATS) Space · Satellite Communications (US) Provides satellite communications, pay-TV, and wireless connectivity across multiple continents, with large wireless spectrum holdings it has agreed to sell to AT&T and SpaceX.
Intuitive Machines (LUNR) Space · Lunar & Space Infrastructure (US) Builds Nova-C lunar landers under NASA's CLPS program and, after the Lanteris acquisition, supplies broader space-systems engineering; posted record Q1 2026 revenue of $186.7 million.
Avio (AVIO) Space · Launch Vehicles & Propulsion (Italy) Italian prime contractor for Europe's Vega C rocket and builder of Ariane 6 solid boosters; grew 2025 revenue 22.7% to 541.7 million euros with a record 2.17 billion euro backlog.
Iridium Communications (IRDM) Space · Mobile Satellite Services (US) Operates the only truly global L-band mobile satellite network of 66 crosslinked low-Earth-orbit satellites, serving 2.56 million subscribers across voice, IoT, and US government services.
MDA Space (MDA) Space · Satellite Systems & Robotics (Canada) Canadian space prime behind the Canadarm robotics, satellite systems for the Telesat Lightspeed and Globalstar constellations, and Earth-observation services; grew Q1 2026 revenue 32% to C$464.1 million.
AST SpaceMobile (ASTS) Space · Direct-to-Cell Satellite (US) Deploys the BlueBird constellation of large low-Earth-orbit satellites that connect directly to unmodified smartphones, with commercial deals covering more than 50 mobile operators worldwide.
Astroscale Holdings (186A) Space · On-Orbit Servicing & Debris Removal (Japan) Tokyo-listed pioneer of orbital debris removal and on-orbit servicing; holds JAXA's roughly 13.2 billion yen ADRAS-J2 debris-removal contract and grew nine-month business revenue 125% in fiscal 2026.

What are the risks?

Global space technology carries the same execution risks as US space tech, plus the frictions of a multi-market basket.

  • Mission and execution risk. A failed launch, landing, or deployment can erase a single name’s thesis overnight; several members are pre-profit and priced on milestones.
  • Government dependence. NASA, the Pentagon, ESA, the EU, and JAXA anchor much of the revenue; budgets and program timelines shift with politics on three continents.
  • Currency and listing risk. The basket trades in dollars, euros, yen, and Canadian dollars; FX swings and differing disclosure regimes add noise a US-only sleeve avoids.
  • Concentration inside diversification. Even at 30 names, a handful of large constituents and one anchor customer per company (Apple for Globalstar, NASA for Intuitive Machines, ESA for Avio) can dominate outcomes.
  • Dilution and funding risk. Loss-making members raise capital repeatedly; Astroscale completed a 30.6 billion yen financing in June 2026 (Astroscale).

Related concepts, securities & terms

Related indices & ETFs

  • Akros Global Space Technology Index (AGSPCT) · Akros Technologies, Inc.
    Broad exposure to the 30 highest-scoring global space technology companies across developed markets. No licensed tracking ETF yet.

These references describe index-tracking relationships as a matter of fact and are not a recommendation to buy any product. Akros, as the index provider, may receive licensing fees from product sponsors. Review the product's prospectus before investing.

Frequently asked questions about global space technology

What is global space technology investing?

Global space technology investing means owning the developed-market companies that build, launch, and operate the space economy worldwide, rather than only its US names. The basket spans about 30 companies across the United States, Europe, Japan, and Canada, from launch (Rocket Lab, Avio) to satellite communications (Viasat, Iridium) to debris removal (Astroscale). The global space economy reached about $613 billion in 2024 (Space Foundation) and is projected to reach $1.8 trillion by 2035 (World Economic Forum).

How is global space technology different from US space tech?

Scope and shape. The US Space Tech concept is a concentrated basket of roughly 10 US-listed pure-plays, heavy on early-stage launch and lunar names. Global Space Technology spreads roughly 30 names across developed markets, adding Europe's launcher prime Avio, Italy's Leonardo, Canada's MDA Space, and Japan's Astroscale and ispace, plus established cash-generating operators like Viasat, with record fiscal 2026 revenue of $4.6 billion (Viasat), and Iridium, with $871.7 million of 2025 revenue (Iridium).

Why include European and Japanese space companies?

Because governments outside the US are now funding their own space buildouts. ESA member states committed a record 22.3 billion euros at the November 2025 ministerial, up 31% from the previous round (ESA); the EU signed the 10.6 billion euro, 290-satellite IRIS2 secure constellation with a consortium that includes Eutelsat (European Commission; SES); and Japan runs a 1 trillion yen Space Strategy Fund through JAXA (JAXA). Avio, Leonardo, Eutelsat, Astroscale, and ispace are direct beneficiaries that a US-only basket cannot hold.

Which companies represent global space technology?

Representative names include Rocket Lab (RKLB), Planet Labs (PL), Viasat (VSAT), Globalstar (GSAT), EchoStar (SATS), Intuitive Machines (LUNR), Italy's Avio (AVIO on Borsa Italiana), Iridium Communications (IRDM), Canada's MDA Space (MDA on the TSX), AST SpaceMobile (ASTS), and Japan's Astroscale (186A on the Tokyo Stock Exchange). The broader 30-stock universe also spans Sirius XM, SKY Perfect JSAT, Eutelsat, Leonardo, L3Harris, HEICO, and TransDigm (Akros Technologies).

Is there an ETF for global space technology?

Not yet for this concept. The Akros Global Space Technology Index (AGSPCT), published May 29, 2026, frames the 30-stock developed-market universe, but no ETF has licensed it so far (Akros Technologies). The Korea-listed TIGER US Space Tech ETF (0183J0) from Mirae Asset tracks the separate, US-only Akros U.S. Space Tech Index instead (Mirae Asset TIGER). Exposure to the global concept today means individual names such as Viasat, Iridium, Avio, or MDA Space.

What are the risks of global space technology stocks?

Three layers. Mission and execution risk: a single launch or landing failure can erase a thesis, and several names (AST SpaceMobile, Intuitive Machines, Astroscale) are still deeply loss-making; Astroscale posted a 7.1 billion yen operating loss over nine months (Astroscale). Government dependence: ESA, NASA, JAXA, and defense budgets anchor much of the revenue. Currency and listing risk: the global basket trades in dollars, euros, yen, and Canadian dollars across five-plus exchanges, adding FX swings a US-only basket avoids.

Is global space technology a long-term buy for an individual investor?

It fits a patient, growth-tilted investor who wants the space buildout as a diversified basket and can hold through deep drawdowns. The structural pull is documented: a $613 billion space economy in 2024 (Space Foundation) projected to roughly triple to $1.8 trillion by 2035 (World Economic Forum). The 30-name global mix blunts single-mission risk versus a concentrated US sleeve, but many holdings are pre-profit, so most investors keep the position a small satellite, not a core holding.

How does global space technology fit an institutional mandate?

Usually as a thematic-growth sleeve inside aerospace, defense, or frontier-tech allocations, sized for high beta and government-budget sensitivity. The global version adds practical advantages for allocators: more investable names (about 30 versus 10), profitable anchors like Viasat with $1.6 billion of fiscal 2026 adjusted EBITDA (Viasat) and MDA Space guiding to C$1.7 to 1.9 billion of 2026 revenue (MDA Space), and exposure to three separately funded government cycles (US, Europe, Japan) rather than one.

Sources & references

  1. Space: The $1.8 Trillion Opportunity for Global Economic Growth · World Economic Forum, 2024-04-08
  2. The Space Report 2025 Q2: Record $613 Billion Global Space Economy for 2024 · Space Foundation, 2025-07-22
  3. ESA Member States commit to largest contributions at Ministerial · European Space Agency, 2025-11-27
  4. Commission takes next step to deploy the IRIS2 secure satellite system · European Commission (DG Defence Industry and Space), 2024-12-16
  5. SpaceRISE signs concession contract to deliver Europe's IRIS2 connectivity network · SES S.A., 2024-12-16
  6. Overview of the Space Strategy Fund (SSF) · Japan Aerospace Exploration Agency (JAXA), 2025-01-01
  7. JAXA concludes partnership-type contract for Phase II of its Commercial Removal of Debris Demonstration (CRD2) · Japan Aerospace Exploration Agency (JAXA), 2024-08-20
  8. Rocket Lab Hits Record Revenue in '25, But Delays Neutron to Late '26 · Via Satellite, 2026-02-27
  9. Record Number of Objects Launched Into Space Last Year · Yale Environment 360, 2026-01-01
  10. AST SpaceMobile Quarterly Results (Form 8-K Exhibit 99.1) · AST SpaceMobile / SEC EDGAR, 2025-08-11
  11. Intuitive Machines Q1 2026 earnings press release (Form 8-K, Exhibit 99.1) · Intuitive Machines, Inc. / SEC EDGAR, 2026-05-14
  12. Iridium Announces First Quarter 2026 Results · Iridium Communications Inc., 2026-04-23
  13. Globalstar Announces First Quarter 2026 Financial Results (Form 8-K, Exhibit 99.1) · Globalstar, Inc. / SEC EDGAR, 2026-05-07
  14. Viasat Q4 FY26 Shareholder Letter (Form 8-K, Exhibit 99.2) · Viasat, Inc. / SEC EDGAR, 2026-05-28
  15. Iridium Announces 2025 Results; Issues 2026 Outlook · Iridium Communications Inc., 2026-02-12
  16. MDA Space Reports First Quarter 2026 Results · MDA Space Ltd., 2026-05-07
  17. FY 2025 Results: Record-High Order Backlog and Revenues, Growth Path to Continue in 2026 · Avio S.p.A., 2026-03-12
  18. Avio Successfully Launches the SMILE Satellite with Vega C · Avio S.p.A., 2026-05-19
  19. Consolidated Financial Results for the Nine Months Ended January 31, 2026 (Under IFRS) · Astroscale Holdings Inc., 2026-05-19
  20. Planet Reports Financial Results for Fourth Quarter and Full Fiscal Year 2026 · Planet Labs PBC / Business Wire, 2026-03-19
  21. Akros Global Space Technology Index (AGSPCT) · Akros Technologies, Inc., 2026-05-29
  22. MiraeAsset TIGER US Space Tech ETF (0183J0) · Mirae Asset, 2026-04-10