A combination of major headlines, technological advancements and money-making opportunities has Wall Street buzzing about the space race. In particular, the imminent initial public offering of Elon Musk’s SpaceX may be the most highly anticipated IPO of the 2020s. SpaceX is expected to raise between $40 billion and $80 billion and achieve a valuation of more than $1 trillion.

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SpaceX is currently the market leader in space transportation, but it’s far from the only company and organization reaching for the stars. Here are eight of the biggest space technology competitors that investors should watch ahead of the SpaceX IPO:

— Blue Origin

— Amazon.com Inc. (ticker: AMZN)

— United Launch Alliance

— Rocket Lab Corp. (RKLB)

— Arianespace

— Eutelsat OneWeb

— AST SpaceMobile Inc. (ASTS)

— Northrop Grumman Corp. (NOC)

Blue Origin

Blue Origin is an American aerospace manufacturer started by Amazon founder and former CEO Jeff Bezos in 2000. Ars Technica ranked Blue Origin as the No. 2 U.S. rocket company of 2025 behind only SpaceX. Blue Origin may be best known for taking Katy Perry and other celebrities into space, but it also made history in 2025 by successfully launching a test payload on its massive New Glenn rocket. In addition, Blue Origin completed nine launches of its smaller New Shepard rocket last year. Blue Origin is not yet public, but an IPO could be coming

in the future.

Amazon.com Inc. (AMZN)

E-commerce and cloud services giant Amazon is also one of SpaceX’s biggest competitors. The company’s Amazon Leo project, formerly called “Project Kuiper,” plans to take on SpaceX’s Starlink. As of early 2026, Starlink reportedly had more than 10,000 active satellites providing internet and mobile phone services to more than 10 million global subscribers. Leo currently has only about 200 satellites, but it plans to have thousands in orbit by 2028. Amazon CEO Andy Jassy recently said Leo already has commitments from Delta Air Lines Inc. (DAL), JetBlue Airways Corp. (JBLU), AT&T Inc. (T) and several other major companies to use Leo’s service once it adds more satellites.

United Launch Alliance

United Launch Alliance is a U.S. aerospace company formed in 2006 as a joint venture between Boeing Co. (BA) and Lockheed Martin Corp. (LMT). The company has a track record of 150 consecutive successful launches, and it aims to achieve unprecedented results with its new Vulcan rocket family. After completing just six launches in 2025, ULA said in February that it plans to accelerate activity in 2026 and complete 20 to 25 launches this year. In April, the ULA’s Interim Cryogenic Propulsion Stage (ICPS) was used to successfully propel the NASA Artemis II astronauts into high-Earth orbit.

Rocket Lab Corp. (RKLB)

Rocket Lab is a leading U.S. aerospace manufacturer and launch service provider that was the second-most active U.S. launch company behind SpaceX in 2025, successfully completing 21 launches. Last year marked a record year for Electron and HASTE rocket launches. Rocket Lab hasn’t had a failed launch since 2023 as it continues to develop its medium-lift, partially reusable Neutron launch vehicle. Rocket Lab is hoping to complete Neutron’s first launch by the end of 2026. The company entered the year with a $1.85 billion backlog, and it plans to recognize 37% of that backlog by 2027.

Arianespace

Arianespace is a French aerospace company and is the leading European launch services provider. U.S. investors can buy shares of Arianespace parent companies Airbus SE (OTC: EADSY) and Safran SA (OTC: SAFRY). In 1981, Arianespace made history by signing the world’s first-ever commercial space flight contract with GTE Spacenet. Today, the company has successfully delivered more than 1,100 satellites to space. In 2025, Arianespace completed seven launches of its Ariane 6 and Vega-C vehicles. In late April, Arianespace will launch another 32 Amazon Leo satellites into space in the second part of a series of 18 launches to deploy Amazon’s constellation.

Eutelsat OneWeb

Eutelsat OneWeb is a satellite internet provider created by the 2023 merger of France’s Eutelsat and Britain’s OneWeb. The company operates a unique fleet of 31 geostationary (GEO) satellites and more than 600 low Earth orbit (LEO) satellites. The company says this hybrid system enables resilient, secure and seamless connectivity across land, air and sea for government, telecom and enterprise customers. In January 2026, Eutelsat announced a deal with Airbus to build another 340 OneWeb LEO satellites, suggesting the company is planning an aggressive expansion phase. U.S. investors can buy shares of Eutelsat Communications (OTC: EUTLF) on the over-the-counter market.

AST SpaceMobile Inc. (ASTS)

AST SpaceMobile is a satellite-to-smartphone telecommunications company. Unlike satellite-designated phones, smartphone users can connect directly to AST’s “BlueBird” satellites using standard smartphones under contract with AT&T, Verizon, Vodafone and other carriers. AST plans to have between 45 and 60 satellites in orbit by the end of 2026, a far cry from Starlink’s roughly 10,000 satellites. However, AST’s satellites are roughly 35 to 40 times larger than Starlink’s satellites, giving them a stronger signal, greater precision and better interference management. The goal is for AST’s combination of powerful satellites and fixed-cell technology on Earth to provide unmatched bandwidth.

Northrop Grumman Corp. (NOC)

Northrop Grumman is one of the world’s largest weapons and military technology producers. The company’s Space Systems business provides end-to-end space and launch systems and services for national security, civil and commercial customers. Northrop’s military space capabilities allow operators to detect, track and respond to emerging threats. Northrop Grumman also manufactured the twin solid rocket booster used for the recent Artemis II launch. SpaceX has a more commercial focus than Northrop, but Northrop Grumman has beaten out SpaceX for key U.S. Department of Defense contracts in the past. The two companies have also collaborated on multiple government projects.

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SpaceX Competitors: 8 SpaceX Rivals to Watch Before the IPO originally appeared on usnews.com

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