Rocket Lab (RKLB) Stock Climbs on $90M U.S. Space Force Satellite Contract Win

Key Takeaways

• Rocket Lab shares gained approximately 2% in premarket hours Friday following a $90 million U.S. Space Force contract announcement.
• This marks the company’s inaugural operational geostationary orbit satellite program.
• The aerospace firm will design, manufacture, and manage two geostationary satellites equipped with Heimdall space domain awareness technology.
• The firm’s order backlog has expanded beyond $2.2 billion, encompassing more than 70 scheduled missions.
• Analysts maintain a Moderate Buy rating on RKLB, with the consensus price target of $100.17 suggesting roughly 20% downside from present trading levels.

Rocket Lab’s stock (RKLB) finished Thursday’s session at $124.45, declining 7% during regular trading hours. However, the aerospace company rebounded Friday morning, climbing approximately 2% in premarket activity after announcing it secured a $90 million agreement with the U.S. Space Force.

Rocket Lab USA, Inc., RKLB

This agreement represents a significant achievement for the organization — marking its inaugural operational geostationary orbit (GEO) satellite initiative. The company will oversee the design, construction, and operation of two geostationary satellites featuring the Heimdall space domain awareness payload, a system engineered to monitor orbital objects and enhance defense surveillance capabilities.

The contract’s breadth makes it particularly noteworthy. Rocket Lab won’t simply be delivering components for another entity — the company serves as the prime contractor, managing spacecraft production, payload integration, launch logistics, and on-orbit operations extending up to five years.

The program will additionally launch a radar imaging satellite with the capability to capture terrestrial images through cloud cover and during nighttime hours.

Expanding Presence in Defense Space Operations

While this isn’t Rocket Lab’s initial foray into defense contracting, it represents arguably the most comprehensive engagement yet. Earlier in 2025, the company obtained contracts related to hypersonic testing operations and upcoming Neutron rocket deployments.

The Space Force contract strengthens this partnership and demonstrates that Rocket Lab is earning trust for more intricate, comprehensive missions — extending beyond simple orbital transportation services.

The premarket rally also precedes another Electron launch scheduled for Synspective, a Japanese earth-observation company, providing investors with two immediate catalysts to monitor.

RKLB shares have surged approximately 80% year-to-date and climbed over 385% during the trailing 12-month period. This impressive performance has been supported by a steady influx of contracts and growing demand for launch capabilities.

Order Pipeline and Future Outlook

Rocket Lab’s contract backlog has now surpassed $2.2 billion, encompassing over 70 scheduled missions. This robust pipeline delivers substantial near-term revenue predictability.

Market participants are also monitoring the company’s reusable Neutron rocket, which is anticipated to conduct its maiden test flight later in 2025. Neutron is being developed to accommodate larger payloads and compete in a segment currently controlled by bigger launch service providers.

From an analyst perspective, Wall Street maintains a Moderate Buy consensus rating on RKLB, supported by 11 Buy recommendations, four Hold ratings, and zero Sell ratings issued during the previous three months.

The consensus price target stands at $100.17 per share — approximately 20% beneath the stock’s current trading price.

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