Stocks set to launch on rising space spending

The industry's expected to skyrocket in size, and these companies have the right products and partnerships to take off

Vikram Barhat 2 October, 2019 | 1:26AM

Rocket taking off

Over the past week, the UAE became the 40th country in history to send one of its citizens into space. Space exploration activities have become an increasing global endeavour, and have been gathering momentum in recent years with a host of international scientific missions and launches attempting to gain a deeper understanding of space.

Global government spending on space exploration is set to grow from US$14.6 billion in 2017 to US$20 billion by 2027, according to a report by Euroconsult. While the overall global space industry is expected to skyrocket from US$350 billion in 2016 to US$1 trillion by 2040 according to Morgan Stanley.

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Securities Mentioned in Article

Security NamePriceChange (%)Morningstar Rating
Boeing Co148.91 USD-8.08
Lockheed Martin Corp346.13 USD-0.65
Northrop Grumman Corp311.09 USD-0.34

About Author

Vikram Barhat

Vikram Barhat  Vikram Barhat is a Toronto-based financial writer specializing in investing, stock markets, personal finance and other areas of the financial services industry. He also writes for CNBC, BBC, The Globe and Mail, and Toronto Star.