3 Best Space Exploration Stocks To Buy

Just for a few minutes, forget about Star Trek and Star Wars, and all of the other space-based science fiction. Think about the real opportunities you have to invest, and make some capital, in space exploration. There are many companies making billions in space now. We have been using satellites for streaming television, navigation, telephones, climate monitoring, and safety, just to name a few. The products needed for space exploration are being developed right now, by some of these companies:

TRIMBLE INC (NASDAQ: TRMB)

Trimble provides a lot of services, not all of which deal with space. For instance, it has a platform to improve fuel efficiency in long-haul trucking and another to optimize agricultural workload.

Trimble also has a platform to provide real-time global positioning and satellite navigation systems. It also has a system that uses lasers and optical technology to establish location. These types of platforms are necessary for space exploration.

Like many companies, Trimble was hard hit by the pandemic. Its 2020 revenue was $3.1 billion, down 4% from 2019. But this company is projected to have a revenue ceiling of $50 billion, which means there's a lot of room for growth.

KRATOS DEFENSE & SECURITY (NASDAQ: KTOS)

Kratos specializes in the types of things you would expect from a space exploration company: directed energy weapons, cybersecurity and warfare, missile defense, microwave electronics, and combat systems. Its clients include the US government, foreign governments, and private businesses.

1Q21 revenue for Kratos was $194.2 million, with a consolidated operating income of $4.9 million, both figures an increase over 2020.

IRIDIUM COMMUNICATIONS INC (NASDAQ: IRDM)

Iridium has been operating in space for many years. It operates the Iridium Satellite Constellation, a total of 66 satellites and nine spare satellites used for global voice and data communications via hand-held satellite phones. The Constellation was launched in stages, each using SpaceX launch vehicles. The satellites are in polar orbits.

Iridium had a net loss of $7.9 million in 4Q20, with total revenue of $146.5 million. The good news for Iridium is that it ended 2020 with 1.476 million billable subscribers, an increase of 14% year-over-year.