Space / Launch / Satellites

Where it stands

Each step compares the last four complete quarters with the two years before. A theme usually moves left to right: companies push, Congress and the White House act, the government buys, and markets respond.

1. 1. Companies pushing
   Steady

   151 companies and groups lobbied on it in Q2 2026, against 150 a year earlier.

2. 2. Congress
   Falling

   3 bills introduced and 0 became law in the last four quarters, against 8 and 0 a year before that.

3. 3. White House and agencies
   Falling

   4 proposed rules, 1 final rule and 0 presidential actions in the last four quarters, against 16 a year before that.

4. 4. Government buying
   Steady

   406 purchase plans and award notices in the last four quarters, against 506 a year before that (records start October 2023).

5. 5. Markets
   Rising

   13 insider purchases in the theme's companies in the last four quarters, against 6 a year before that. Their stocks: +47% over the same year, against +14% for the S&P 500. Among the 50 largest holdings of the funds we track, these stocks were worth $10.3B at the end of Q1 2026, against $2.4B a year earlier; the figure moves with prices and with how many funds rank them that high.

The setup

The US government is significantly investing in space infrastructure, with a clear focus on enhancing satellite communications for defense and expanding lunar and deep-space exploration capabilities. This push is driven by both the Department of Defense and NASA, allocating billions to develop and sustain critical space assets and ground support. The activity spans from maintaining existing satellite systems to developing next-generation communication and exploration technologies.

How this developed

1. Nov 19, 2024DoD awards Lockheed Martin $381.6M for sustainment of Protected Extremely High Frequency and Defense Satellite Communications System III satellites.Federal contract
2. Dec 18, 2024NASA awards Firefly Aerospace $117.1M for Commercial Lunar Payload Services (CLPS).Federal contract
3. Feb 21, 2025NASA awards BAE Systems $112.7M for Space Weather Next Lagrange Series spacecraft, integration, launch support, and mission operations.Federal contract
4. Jul 3, 2025DoD awards Boeing $786.8M for Evolved Strategic Satellite Communication (ESS) space development and production.Federal contract
5. Nov 18, 2025DoD awards Walsh Federal LLC $165.7M for a Naval Ordinance Testing Unit Engineering Test Facility at Cape Canaveral Space Force Station.Federal contract
6. May 26, 2026NASA awards Lunar Outpost Inc $120.9M for Lunar Terrain Vehicle Services (LTVS) to accelerate LTV capability for lunar exploration.Federal contract
7. Jun 10, 2026DoD awards Korte Construction Company $113.8M for an Air Education Training Command Formal Training Unit at Vandenberg Space Force Base.Federal contract
8. Aug 31, 2026NASA awards Blue Origin, LLC $660M for design, development, integration, launch, and on-orbit communications for a Mars Sample Return mission.Federal contract

The full story, year by year

* Year to date. Lobbying is the most companies and groups naming the theme in any one quarter. Insider buys are officer and director open-market purchases in RKLB, LUNR, RDW, ASTS, PL, BKSY, SPIR, IRDM. Fund holdings are the value of these companies among the top 50 positions of the funds whose 13F filings we track, at the latest quarter of each year. Stock returns are an equal-weight basket of the same companies with prices on file, split-adjusted, without dividends, against the S&P 500 over the same quarters.

• Lobbying before 2025 comes from filings that name the theme; the full lobbying archive is still loading.
• Lobbying reports for Q3 2026 are still being filed, so the comparison uses Q2 2026.

Why it matters

• The Department of Defense is investing heavily in strategic satellite communications, with over $1.1 billion awarded to Lockheed Martin (E1) and Boeing (E5) for sustainment and development of protected and evolved satellite communication systems.
• NASA is accelerating lunar and deep-space exploration, committing over $890 million to Firefly Aerospace (E2), Lunar Outpost Inc (E8), and Blue Origin (E11) for lunar payload services, terrain vehicles, and Mars mission communications.
• Significant ground infrastructure is being developed to support these space initiatives, including a $165.7 million Naval Ordinance Testing Unit facility at Cape Canaveral (E6) and a $113.8 million training unit at Vandenberg Space Force Base (E10).
• The IPO of Applied Aerospace & Defense ($AADX) at a $3.5 billion valuation (E9) highlights strong private sector confidence and investment in the defense and space hardware manufacturing sector, aligning with government procurement trends.

Companies exposed to this theme

The record · 9 items, oldest first

• Nov 19, 2024Federal contractLOCKHEED MARTIN CORP: CORE OPERATIONS AND SUSTAINMENT PROVIDES INTEGRATED SYSTEMS ENGINEERING SUSTAINMENT SUPPORT FOR PROTECTED EXTREMELY HIGH FREQUENCY SATELLITE
• Dec 18, 2024Federal contractFIREFLY AEROSPACE INC.: COMMERCIAL LUNAR PAYLOAD SERVICES (CLPS)
• Feb 21, 2025Federal contractBAE SYSTEMS SPACE & MISSION SYSTEMS INC.: SPACE WEATHER NEXT LAGRANGE SERIES SPACECRAFT: SATELLITE BUS, SATELLITE INTEGRATION AND TEST SERVICES, SATELLITE LAUNCH SUPPORT AND COMMISSI
• Jul 3, 2025Federal contractTHE BOEING COMPANY: EVOLVED STRATEGIC SATELLITE COMMUNICATION (ESS) SPACE DEVELOPMENT AND PRODUCTION
• Nov 18, 2025Federal contractWALSH FEDERAL LLC: DESIGN BID BUILD FIRM-FIXED PRICE AWARD FEE CONSTRUCTION CONTRACT. P103 NAVAL ORDINANCE TESTING UNIT (NOTU) ENGINEERING TEST FACILITY (ETF)
• May 26, 2026Federal contractLUNAR OUTPOST INC: THE LUNAR TERRAIN VEHICLE SERVICES (LTVS) HIGH ACHIEVABILITY MISSION CAMPAIGN IS A SERIES OF PHASED, MISSION UNIQUE, TASK ORDERS AIMED TO AC
• Jun 3, 2026SEC filingApplied Aerospace & Defense ($AADX) Prices $650M IPO on NYSE at $3.5B Valuation
• Jun 10, 2026Federal contractKORTE CONSTRUCTION COMPANY: DESIGN BID BUILD AIR EDUCATION TRAINING COMMAND FORMAL TRAINING UNIT (AETC FTU) VANDENBERG SPACE FORCE BASE, CALIFORNIA
• Aug 31, 2026Federal contractBLUE ORIGIN, LLC: PROVIDE DESIGN, DEVELOPMENT, INTEGRATION, LAUNCH, AND ON ORBIT, CONTINUOUS COMMUNICATIONS IN SUPPORT OF A MARS SAMPLE RETURN (MSR) MISSION A

Some keyword matches were judged unrelated to this theme and are excluded from the record above.

How this story evolved

• Oct 16, 2026, 5:13 AM ETreal248 recordslatest record Oct 14, 2026

  DoD and NASA are rapidly expanding space infrastructure, with $2.5B in contracts for satellite communications, lunar missions, and Mars exploration.

  The US government is significantly investing in space infrastructure, with a clear focus on enhancing satellite communications for defense and expanding lunar and deep-space exploration capabilities. This push is driven by both the Department of Defense and NASA, allocating billions to develop and sustain critical space assets and ground support. The activity spans from maintaining existing satellite systems to developing next-generation communication and exploration technologies.

• Oct 15, 2026, 5:13 AM ETreal343 recordslatest record Oct 13, 2026

  NASA commits over $15B to space communications and launch infrastructure, while DoD seeks resilient satellite navigation.

  The US government is making substantial, multi-billion dollar investments in its space infrastructure, focusing on both launch capabilities and robust satellite communications. NASA is driving significant contracts for ground systems, launch vehicle development, and deep space network operations. Concurrently, the Department of Defense is exploring advanced satellite modem technologies and resilient navigation systems, indicating a strategic push for secure and independent space-based assets.

• Oct 14, 2026, 5:14 AM ETreal223 recordslatest record Oct 13, 2026

  NASA and DoD commit over $20B to space infrastructure, launch systems, and satellite networks, emphasizing next-gen capabilities.

  The US government is making substantial, long-term investments in its space capabilities, with NASA leading significant procurements for launch operations, deep space communications, and exploration missions. Concurrently, the Department of Defense is advancing next-generation satellite constellations for military utility. This coordinated effort spans ground systems, launch vehicle development, and advanced satellite technologies, indicating a strategic push across civil and national security space domains.

• Oct 13, 2026, 5:13 AM ETreal223 recordslatest record Oct 13, 2026

  NASA commits over $17B to KSC operations, deep space comms, and Ares I launch vehicle development through 2026.

  The US government is making substantial, long-term investments in its space infrastructure and capabilities, with NASA leading the charge through multi-billion dollar contracts. These commitments span critical ground operations, advanced communication networks, and next-generation launch systems, indicating a sustained focus on both Earth-orbiting and deep-space missions. The Department of Defense and NOAA are also contributing to satellite technology and ground systems.

• Oct 12, 2026, 5:13 AM ETreal220 recordslatest record Oct 9, 2026

  NASA and NOAA commit over $20B to next-gen space infrastructure, including launch, communications, and weather satellites.

  The US government, primarily through NASA and NOAA, is making substantial, multi-billion dollar investments in its space infrastructure. This initiative spans critical areas including launch operations, advanced satellite communications, and next-generation weather monitoring capabilities. The sustained funding indicates a long-term strategy to enhance both scientific exploration and national security through space assets.

• Oct 11, 2026, 5:13 AM ETreal330 recordslatest record Oct 9, 2026

  NASA and NOAA commit over $20 billion to space infrastructure and satellite operations, while DoD explores commercial space domain awareness.

  The US government is making substantial investments in its space infrastructure, with NASA leading the charge on launch vehicle development and ground support, and NOAA focusing on next-generation weather satellites. Concurrently, the Department of Defense is actively exploring commercial solutions for space domain awareness. This multi-agency effort highlights a strategic push to enhance both operational capabilities and situational awareness in space.

• Oct 10, 2026, 5:13 AM ETreal228 recordslatest record Oct 8, 2026

  NASA commits over $20B to KSC operations, deep space communications, and next-gen satellite development.

  The US government is making substantial, long-term investments in its space infrastructure, focusing on launch capabilities, satellite communications, and advanced satellite technology. NASA is leading this effort with multi-billion dollar contracts for Kennedy Space Center operations and deep space network management. Concurrently, the DoD and NOAA are advancing military and weather satellite programs.

• Oct 9, 2026, 5:13 AM ETreal331 recordslatest record Oct 8, 2026

  NASA and DoD commit over $20B to space infrastructure, launch, and satellite operations through 2026.

  The US government is making substantial, long-term investments in its space infrastructure, with NASA and the Department of Defense awarding over $20 billion in contracts since late 2024. These commitments span launch operations, satellite communications, and next-generation weather satellite systems, indicating a sustained push to enhance space capabilities. The focus is on maintaining and upgrading existing systems while also developing advanced technologies for future missions.

• Oct 8, 2026, 5:13 AM ETreal328 recordslatest record Oct 6, 2026

  NASA and NOAA commit over $18B to next-gen satellite and launch systems, focusing on enhanced weather forecasting and unified space communications.

  The US government is making substantial investments in next-generation satellite technology and launch infrastructure, driven primarily by NASA and NOAA. These efforts aim to significantly improve weather forecasting capabilities and streamline space communications networks. The earliest evidence of this push dates back to late 2024, with major contracts awarded in 2025 and 2026.

• Oct 7, 2026, 5:16 AM ETreal328 recordslatest record Oct 6, 2026

  NASA and NOAA commit over $18B to next-gen satellite systems and launch infrastructure, alongside DoD's RFI for L-Band services.

  The US government is making substantial, multi-billion dollar investments in next-generation satellite systems, launch infrastructure, and ground support. NASA and NOAA are driving significant contracts for advanced weather satellites and space communications, while the Department of Defense explores future satellite bandwidth needs. This coordinated effort aims to modernize space capabilities across scientific, environmental, and defense sectors.

• Oct 6, 2026, 5:13 AM ETreal622 recordslatest record Oct 6, 2026

  NASA and NOAA invest over $20B in next-gen satellite systems and launch infrastructure.

  The US government is making substantial investments in its space infrastructure, focusing on next-generation satellite systems for weather forecasting and deep space communication, alongside significant upgrades to launch capabilities. NASA and NOAA are leading these efforts, committing billions to modernize and expand critical space assets. This push began in early 2025 and has accelerated through 2026 with major contract awards.

• Oct 5, 2026, 5:13 AM ETreal310 recordslatest record Oct 2, 2026

  NASA and NOAA commit over $20B to next-gen space infrastructure, focusing on launch, communications, and weather satellites.

  The US government is making substantial, long-term investments in its space infrastructure, with NASA and NOAA leading the charge. This initiative, spanning from 2025, focuses on upgrading launch capabilities, enhancing space communications networks, and developing advanced weather satellites. The scale of these commitments indicates a strategic push to maintain and advance US leadership in space operations and Earth observation.