Elon Musk’s SpaceX is set to launch a record 148 flights this year, up from 98 last year — a testament to the robust marketplace for space launches. However, its near-monopoly in space flight might finally be coming to an end. Rocket LabRKLB

, with a backlog exceeding $1B for its 59-foot Electron rocket, is gaining customers as an emerging alternative to SpaceX’s Falcon 9 — and winning over investors in the process.

• Rocket Lab’s latest earnings report showed a 55% year-over-year revenue increase, reaching $104M.
• With the upcoming launch of its new mid-sized Neutron rocket in 2025, revenue growth is expected to accelerate further, with at least two missions planned for mid-2026 that could add over $100M to its 2026 revenue.

We have liftoff: So far this year, Electron has completed a record 12 launches, making it the third most-launched rocket in the world. However, it still lags behind SpaceX’s hundreds of launches and China’s dozens. But with Neutron on the horizon, investors have sent Rocket Lab’s stock soaring, hoping to benefit from the growing space industry. Following its earnings report, the stock jumped 36%+ on Wednesday, bringing its year-to-date return to 275%. At this rate, the stock could already be well into the stratosphere by the time Neutron launches next year.