Lockheed Martin Corporation
Lockheed Martin Corporation (LMT) is an aerospace and technology company that is engaged in developing advanced technology systems. Notably, the company had approximately $11.9 billion in 2020 sales for its space segment, which includes the development of commercial and government satellites, strategic missiles, mission solutions, and deep space exploration lines of business.
Last week, the company announced that it has opened an advanced manufacturing facility to expand the Orion spacecraft production. Dubbed as the Spacecraft Test, Assembly, and Resource (STAR) center, it will feature business and digital innovations that will expand manufacturing and testing capacity for NASA's Orion spacecraft program and ultimately pave the way for future space exploration. Under the company's contract with NASA, the agency has committed to order Orion vehicles for six missions, with the potential to add another six through 2030. With that in mind, will you consider buying LMT stock?
Maxar Technologies Inc.
Another name to consider among space travel stocks now would be Maxar Technologies Inc. In brief, the company identifies itself as an "earth intelligence and space infrastructure" innovator. Simply put, the company develops and manufactures global broadband communications tech for government and commercial customers. The likes of which would apply to space travel and space exploration efforts. Given the vital nature of Maxar's offerings, the company could stand to benefit from space travel stocks in the long run.
With the company set to report its second-quarter fiscal on August 4 next month, could it be worth watching? Well, if anything, the company appears to be hard at work on the operational front right now. As of last week, Maxar's work on a Power and Propulsion Element (PPE) for NASA continues to break new ground. In particular, Maxar revealed that the preliminary design review for the PPE went smoothly, setting the project on track for a 2024 launch. Overall, Senior VP Chris Johnson believes that Maxar's progress on the PPE serves to show that the company is gearing up to "meet a broad range of civil, commercial, and national security mission needs." Given all of this, would MAXR stock be a top buy for you?
Astra Space Inc.
Following that, we will be taking a look at Astra Space Inc. In short, the California-based company primarily focuses on facilitating space launches. Notably, the privately-funded company is the fastest in history to reach space. In terms of scale, the company currently holds over 50 launches under contract in its current portfolio. As it stands, the company is planning to deliver customer payloads into orbit with daily launches by 2025.
ASTR stock is currently trading at $9.44 a share as of 11:14 a.m. ET. Given all the hype around orbital space travel now, would it be a good investment? For the most part, Astra's services would see greater demand on the commercial front should commercial space travel efforts grow. Because of this, I could see ASTR stock getting some time in the spotlight amongst space travel stocks. While time will tell if this can translate to long-term gains now, will you be keeping an eye on ASTR stock?
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