Best Space Stocks To Watch In 2021

The space industry is expected to reach a trillion-dollar valuation over the next decade, driven by declining production costs and disruptive technology inventions. Rising government spending and increased public interest should significantly accelerate this industry growth, as major economies around the world are currently racing to establish themselves as pioneers in space exploration. Morgan Stanley expects revenues from the space industry to cross the one trillion mark by 2040, registering a CAGR of 185.7%. Bank of America, on the other hand, estimates the market valuation to grow 230% to reach $1.40 trillion by 2030.  

To tap into the trillion-dollar potential, Catherine Wood, the founder of the largest actively traded ETF in the world, Ark Investment Management, is currently planning to launch a Space Exploration ETF. As one of the most successful investors of all time generating over 170% returns on its flagship ETF, Wood’s announcement was met by surging demand in space stocks. 

With the surmounting growth potential of this industry, some of the best space stocks with strong growth potential are:  

Virgin Galactic Holdings Inc. (NYSE: SPCE)

Virgin Galactic is arguably one of the most coveted stocks making headlines in the space tourism industry.  Following a stellar public debut through a reverse merger with Social Capital Hedosophia in October 2019, SPCE became the first space tourism company to be publicly traded. 

 While the company also has developmental interests in commercial aerospace, its primary design, SpaceShip Two ecosystem, is designed to privatize space travel. At an approximate cost of $250,000 per ticket, Galactic’s spaceflight system is currently being designed to accommodate eight people. More than 600 people have already signed up for space travel, garnering over $8 billion in refundable deposits. While Virgin Galactic is currently not generating revenues, the company’s growth potential once the company takes off is surmounting. 

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