Research · Living data · Updated 2026-07-17
The public new-space universe — launch, satellites and constellations, earth-observation, and the ground-systems supply chain.
The "space economy" moved from science fiction to an investable theme, largely because a wave of new-space companies went public in the last cycle. NextTrack maps 71 public companies to the space theme — launch providers, satellite operators and constellations, earth-observation and space-data names, and the ground-systems supply chain. The count refreshes on every rebuild.
| Metric | Live figure |
|---|---|
| NextTrack tracks | 71 space-themed companies |
| Last updated | 2026-07-17 |
"Space stocks" is really a stack of distinct businesses, and the 71 companies here spread across it:
- **Launch** — the rockets that put mass into orbit; capital-intensive and cadence-driven. - **Satellites & constellations** — operators building networks for communications, connectivity, and positioning. - **Earth observation & space data** — imagery and analytics sold as a data product. - **Ground systems & supply chain** — antennas, components, and the terrestrial infrastructure.
Many of these companies came public via de-SPAC, which shapes the theme: a lot of pre-revenue or early-revenue names carrying the ambitions — and the cash-burn — of the last space cycle.
A large share of the new-space universe listed through SPAC mergers, often on projections that assumed a smooth ramp. Reality has been bumpier, and the theme has seen the full de-SPAC arc: initial enthusiasm, dilution, and in some cases restructuring. That history is a feature of NextTrack's map, not a bug — the space theme links naturally to the [SPAC](/research/spac-list-2026) and [merger](/research/public-mergers-2026) datasets, so you can see how a given name came public and whether the original deal projections held.
Sort the 71-name list by market cap and you'll find a small number of larger operators and a long tail of speculative, pre-profitability names. The theme rewards separating companies with real recurring revenue (data, connectivity) from those still selling a roadmap (launch cadence, future constellations). The full ranked, sortable list is on the gated theme page.
Space membership is drawn from a curated theme taxonomy mapped to companies and rolled up recursively across launch, satellite, earth-observation, and ground-systems sub-themes. Because so many names are de-SPACs, the map cross-references the SPAC and merger data to show how each listed. Explore the interactive map on the [space theme page](/themes/space), or browse [all themes](/themes).
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