The Artemis II mission, which has seen astronauts travel further from Earth than ever before, has captured the public and investors’ imagination and put the spotlight on space stocks.
Meanwhile, SpaceX is preparing to go public later this year at a record valuation, and the limited free float is set to drive demand to the stars.
So, how can retail investors tap into the ‘space economy’, which is reckoned to be worth $1.8 trillion within a decade? Here we list some of the UK stocks with space exposure, along with several European and US players.
To boldly go
According to the UK Space Agency, the UK space sector directly employs around 55,000 people and generates £18.6 billion of annual revenue. However, space and satellite services in general support wider industrial activity worth an estimated £450 billion per year or 18% of GDP.
Most UK development is carried out by small British firms working with larger US partners. For example, the new satellites for SpaceX’s Transporter-16 mission were built in Scotland for US firm Spire Global (SPIR).
In terms of quoted companies, UK defence firms like BAE Systems (BA.), Babcock International (BAB) and Qinetiq (QQ.) all have space divisions. BAE makes customisable, scalable satellite platforms and spacecraft along with software and offers the ability for customers to ‘rideshare’.
Babcock operates the UK MoD’s SKYNET military satellite constellation as well as ground stations and secure communications networks. Qinetiq provides satellite services as well as contributing to air and missile defence systems with European and US partners.
Cohort (CHRT) provides satellite communications systems and services to military customers around the world. Filtronic (FTC) makes advanced RF (radio frequency) equipment and is a key supplier to SpaceX’s Starlink satellite constellation.
UK companies with space operations
| Company | Market Cap | 12m performance |
| Babcock International | £6.2bn | 91% |
| BAE Systems | £68bn | 52% |
| Cohort | £600m | 16% |
| Filtronic | £450m | 152% |
| Qinetiq | £2.5bn | 33% |
| Senior | £1.2bn | £1.4bn |
Funds with space exposure
For investors who would prefer a spread of space assets under one roof, the most obvious option is investment trust Seraphim Space (SSIT). In its interim results published last month, the £425 million fund generated a 20% increase in NAV between June and December 2025.
The top five holdings – all private companies – achieved ‘substantial’ growth in H1 helped by new contracts and fundraisings at higher valuations. Moreover, companies representing 77% of the portfolio have a ‘robust’ cash runway and those representing 85% expect positive FY26 EBITDA.
Image: SpaceX
The next obvious choice is one of the funds run by Baillie Gifford with space exposure such as Scottish Mortgage (SMT). The £15 billion fund’s largest holding at 15.4% of the portfolio is SpaceX, which it has owned since 2018.
The Elon Musk-founded company designs, makes and launches advanced reusable rockets and spacecraft and owns the Starlink satellite constellation. In 2025, SpaceX made $8 billion of EBITDA on just $16 billion of revenue, making it highly profitable.
Plans are afoot for a $50 billion IPO later this year which would value the whole company at $1.75 trillion. Demand for the shares is likely to be astronomical and small investors outside the US are likely to dip out.
US and European space stocks
Unsurprisingly, the US is home to a large proportion of space-oriented stocks, but Europe also has a small cluster. In the US, Comcast (CMCSA) is the dominant provider of satellite broadcasting services while Echostar (SATS) provides pay-TV and mobile services.
Below these are smaller, faster-growing but typically loss-making companies such as AST SpaceMobile (ASTS) and Globalstar (GSAT). A new addition to the sector is Canadian firm MDA Space (MDA), which recently raised its profile with a listing in the US.
In Europe, aircraft maker Airbus has a space division and was responsible for building the service module for NASA’s Artemis programme. Last year, the firm’s space revenue reached €13.4 billion while new orders reached almost €18 billion.
Lastly, French satellite firm Eutelsat operates a network of geostationary and low-earth orbit staellites providing mobile and fixed connectivity and video services. Rival SES is more focused on video transmission, serving a customer base of nearly 700 households through its satellite network.
Disclaimer: The author (Ian Conway) owns shares in Seraphim Space investment trust.
