Top 3 Space Stocks With Market Caps Over $1 Billion

AI related stocks just had one of their worst sessions since 2020, with chipmakers at the center of a global sell off. When one crowded story stumbles, attention often shifts to the next big frontier. Right now, that frontier is the new space economy, where listed businesses provide the rockets, satellites, and defence hardware. This article highlights three stocks from our global space infrastructure screen that are worth a closer look.

The three stocks below are just a starting sample from this theme, and the full screen surfaced 58 more companies with equally compelling narratives that are not covered here. To go straight to the full list, analyze orbital players side by side, and identify your highest conviction ideas, head into the Global Space Race Stocks screener.

Lockheed Martin (LMT)

Overview: Lockheed Martin is a global defense contractor that builds fighter jets, missiles, helicopters, and space infrastructure such as satellites and space transportation systems.

Operations: The business generates about US$13.9b from Space and US$69.5b overall, with around US$54.9b coming from the United States.

Market Cap: US$137.5b

Lockheed Martin matters for the Global Space Race theme because its space division supplies much of the hardware that keeps government and commercial activity functioning in orbit, even though most of the group’s sales still come from aeronautics and missiles on the ground.

"Lockheed Martin is moving munitions like PAC-3, THAAD, PrSM and JATM onto seven year framework agreements that aim to triple or quadruple production and allow the company to retain a larger share of cost savings from capacity investments such as robotics in Camden. This can support higher future revenue and structurally stronger net margins."

What happens to those future margins depends heavily on how one still unresolved cost pressure plays out over the next few years.

How that pressure ultimately lands on pricing power and contracts is exactly what sits at the center of the full narrative for Lockheed Martin, including how management aims to keep earnings quality accelerating.

Montana Aerospace (SWX:AERO)

Overview: Montana Aerospace develops and manufactures mission-critical aerostructure components, including high-precision titanium and aluminum parts for aircraft, spacecraft, and launch vehicles.

Market Cap: CHF1.4b

Montana Aerospace plugs into the Global Space Race through its high-spec metal structures that help hold together rockets, satellites, and next generation aircraft. This gives investors exposure to hardware that has to work flawlessly when missions leave the launchpad.

"Although Montana Aerospace points to a vertically integrated, multi material footprint as a long term edge, the extra €30m to €40m per year growth and integration CapEx on top of about €50m maintenance CapEx risks outpacing cash generation if new work packages expected mainly from 2027 do not ramp as planned."

What ultimately happens to Montana Aerospace’s earnings quality hinges on whether that future workload lands fast enough to justify the heavier investment load.

If that timing question matters to you, read the full narrative for Montana Aerospace to see how Montana Aerospace could convert that CapEx burden into accelerating cash generation potential.

Boeing (BA)

Overview: Boeing designs and supports commercial aircraft, defense systems, and space hardware, with its Defense, Space & Security arm directly tied to orbital infrastructure.

Operations: Boeing generates about US$43.1b from Commercial Airplanes, US$30.4b from Defense, Space & Security, and US$21.5b from Global Services.

Market Cap: US$140.3b

Boeing matters for the Global Space Race theme because its Defense, Space & Security unit builds the satellites, launch systems, and crewed spacecraft that literally get payloads off the ground, even though most of the group’s turnover still comes from commercial jets and service work.

"Any single programme charge above $1 billion in a quarter through 2027. Full year 2026 free cash flow landing below the $1 billion guidance floor, which requires a large second half swing from a negative first."

What happens to Boeing’s long term space opportunity hinges on how one still unresolved cost burden eventually filters through cash generation and pricing power.

If you want a clearer sense of how that cost overhang could ultimately reset Boeing’s cash profile, read the full narrative for Boeing to see where the upside might accelerate.

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