3 Space Stocks to Buy in March

The space economy has evolved past the exploratory phase and is becoming more critical to infrastructure here on Earth. With advancements in satellite technology, launch vehicles, and defense capabilities, the global space economy continues to grow rapidly.

According to Novaspace's Space Economy Report, the global space economy reached $626 billion in 2025 and is projected to grow at a 12% compound annual rate, reaching $1 trillion by 2034. For investors looking to capitalize on this boom in the space economy, here are three space stocks to buy in March.

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Rocket Lab is growing into a key end-to-end player in the space economy

Rocket Lab (NASDAQ: RKLB) is the second-most-used space launch company in the United States. It completed 21 launches in 2025, including a record seven launches in the fourth quarter alone. Right now, Rocket Lab caters to companies looking to send small payloads into orbit with its small-lift launch vehicle, Electron. The company is seeing its revenue per launch go up. Last year, it earned $8.5 million per launch, up from $7.8 million per launch the year before.

Rocket Lab plans to debut its medium-lift launch vehicle, Neutron, sometime later this year. This larger launch vehicle will enable Rocket Lab to carry payloads up to 40 times its current capacity, which should help it earn more per launch and achieve higher margins. The company was hoping to launch this in the first quarter of this year, but a setback during a hydrostatic pressure trial in January has pushed its projected launch date back to the fourth quarter.

In addition to launch services, the company has a strong space systems business, designing and manufacturing components to support customers' missions. Last year, the space systems segment generated nearly $403 million in revenue, a 30% increase from the prior year. Meanwhile, its backlog for the segment reached $1.37 billion, accounting for 74% of its total backlog.

In February, Rocket Lab introduced new advanced silicon solar arrays designed to power space-based data centers. As AI demand soars, companies are increasingly looking to move data centers into orbit, and the company is looking to capitalize on this with its lightweight silicone and hybrid arrays to meet future demand.

AST SpaceMobile's satellites aim to provide global cellular connectivity

AST SpaceMobile (NASDAQ: ASTS) designs and develops satellites that provide cellular broadband service to customers without requiring any special software or hardware. The company has partnered with over 50 mobile network operators, including AT&T, Verizon Communications, and Vodafone, to provide broadband coverage for their customers.

The company accomplishes this with its BlueBird satellites. It currently has six satellites in orbit, including five of its smaller satellites with the 693-square-foot communications array. Its next-generation BlueBird satellites are 2,400 square feet and are currently the largest communication satellite array deployed into low-Earth orbit. At the end of last year, it sent its larger BlueBird satellite into space, with the seventh scheduled to go up with Blue Origin's new Glenn launch vehicle sometime this month.

The company has a lot of work ahead of it and hopes to have between 45 and 60 satellites in orbit by the end of this year. Getting there requires significant cash, as each BlueBird satellite costs between $21 million and $23 million.

The good news for investors is that the company had $2.8 billion in cash and cash equivalents at the end of last year and has raised an additional $1 billion through convertible senior notes. Management says it has enough funding to manufacture and launch a constellation of up to 100 satellites, which will be enough to provide connectivity across the world.

Lockheed Martin has a growing space business

Lockheed Martin (NYSE: LMT) is an established company that plays a role in the growing space economy for defense purposes. The company builds space infrastructure and is a leading satellite manufacturer, enabling GPS navigation, missile warnings, Earth observation, and secure communication channels.

The company says that space is its second-fastest-growing business, thanks to strong demand for strategic missile defense and classified space missions. It is the prime contractor for NASA's Orion multipurpose crew vehicle, designed for exploration and missions to the moon and beyond. Last year, its space segment generated $13 billion in sales, a 4% year-over-year increase. It also closed the year with a backlog of $39.8 billion.

In addition, the company was awarded a contract by the Space Development Agency for up to $1 billion to provide 18 Tranche 3 Tracking Layer satellites, which provide critical missile-warning tracking and defense capabilities. It is also heavily involved in homeland missile defense through the Next Generation Interceptor program and is developing advanced space-based interceptors that are capable of neutralizing ballistic and hypersonic missiles directly from orbit.

For more conservative investors, Lockheed Martin is an established prime contractor and a trusted partner of governments worldwide, offering an appealing way to play the upside of the space economy.

Courtney Carlsen has positions in Rocket Lab. The Motley Fool has positions in and recommends AST SpaceMobile and Rocket Lab. The Motley Fool recommends Lockheed Martin, Verizon Communications, and Vodafone Group Public. The Motley Fool has a disclosure policy.