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There is a new space race brewing, but it differs markedly from the Cold War-era sprint to the moon. This time, the field is crowded between many companies, and it is between commercial ecosystems rather than between two government space agencies.

On top of that, space is being increasingly militarized. Orbital launches per year have exploded from 102 in 2019 to 259 in 2024, with 2025 expected to be another record year for launches. The peak during the Cold War was in 1967, with 141.

Rocket Lab (RKLB) could be the biggest beneficiary, at least when you look at publicly traded companies. SpaceX still leads, but Rocket Lab is the first publicly traded option that has rockets that may compete with it soon.

The Neutron rocket with first-stage reusability is expected to launch this year and compete with SpaceX’s Falcon 9.

The company’s Electron rocket is already seeing traffic, as its customer iQPS signed up for three more. Rocket Lab launched four times already for this customer, and this contract pushed RKLB stock over 5% today.

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Should you buy RKLB stock now?

Space companies were perpetually burning cash, and it was a hopeless endeavor to invest in them two years ago. Things have completely changed, and Rocket Lab can be one of the biggest winners if it hits deadlines and can offer viable alternatives to SpaceX’s rockets.

The true potential can turn it into a multibagger, even from here. Rocket Lab is big enough today to raise cash and sustain rocket development more aggressively and land more contracts. The government has been looking for alternatives since the Musk-Trump spat a few months ago. Things have calmed down, but remain tense.

With companies like AST SpaceMobile (ASTS) pushing for space-based cellular networks and militaries worldwide being interested in space, the tide can keep lifting RKLB stock higher. It may even shoot past $80 by year-end. I’d buy the exuberance.

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