Rocket Lab. The Next Strategic Infrastructure Company in Space
I spent the last days reviewing Rocket Lab’s latest investor presentation from the Q3 earnings update. I read the entire deck with one central question in mind. Is Rocket Lab becoming a durable strategic infrastructure company or is it still simply a launch startup trying to prove itself. The answer is becoming clearer. Rocket Lab is positioning itself as the backbone provider for the new space economy. Electron was the entry point. The real business is now expanding far beyond it.
The Space Systems division has become the operational core of the company. It now drives the majority of revenue. This business is deep. It includes spacecraft manufacturing, reaction wheels, satellite components, solar power systems, and mission services. These revenue lines are recurring. They are needed continuously as the number of satellites in orbit scales upward. The defense sector increasingly relies on these capabilities. Agencies are not experimenting. They are integrating. That tells us something important. Rocket Lab is not a supplier that can easily be replaced.
This is exactly what I look for. A company that becomes essential to a system that cannot function without it.
If you want to follow this thesis the way I am tracking it, become a full member. I will follow Neutron milestones, defense contracts, and execution signals in real time. This is where asymmetric returns are built. Not after the story is obvious.
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