Momentum estratégico de Rocket Lab y el impulso de la seguridad nacional: ¿un catalizador de crecimiento en 2026?

Rocket Lab (RKLB) has emerged as a standout player in the national security space sector, driven by a landmark $816 million contract with the U.S. Space Development Agency (SDA) and a robust stock price rebound in early 2026. This development, coupled with the company's growing role in proliferated low-Earth-orbit (LEO) architectures, positions it as a compelling case study for investors seeking exposure to defense-driven space innovation.

Strategic Contract Wins and Vertical Integration

Rocket Lab's $816 million prime contract for the SDA's Tracking Layer Tranche 3 (TRKT3) program represents a pivotal expansion of its relationship with U.S. defense agencies. The contract, which includes building 18 satellites equipped with advanced infrared and space protection sensors, underscores the company's ability to deliver specialized, cost-effective solutions for missile tracking and hypersonic threat detection. This follows a prior $515 million award for the Transport Layer-Beta Tranche 2 program, bringing Rocket Lab's total SDA contract value to over $1.3 billion.

The company's vertically integrated business model-designing both rockets and satellites- provides a critical edge in managing costs and timelines. Unlike traditional aerospace contractors reliant on third-party launch providers, Rocket Lab's Electron and upcoming Neutron rockets enable end-to-end control, reducing complexity and enhancing scalability. This alignment with the U.S. Space Force's push for rapid, resilient satellite constellations has solidified Rocket Lab's reputation as a key enabler of national security priorities.

Financial Resilience and Stock Performance

Despite ongoing operational losses, Rocket Lab's Q3 2025 financials highlight its growing revenue scale and liquidity strength. The company reported $436.21 million in revenue for the quarter, with a current ratio of 3.2 and over $800 million in cash reserves. While EBITDA remains negative at -$46.17 million, the cash flow generated from defense contracts and commercial launches has cushioned the impact of R&D investments.

The stock price has surged in response to these developments, climbing over 175% year-to-date through December 2025. A 3.88% jump on December 30, 2025, followed by a pre-market open at $73.03, reflects investor optimism. Analysts have upgraded price targets, with Needham & Co. raising its target to $90 per share, signaling confidence in Rocket Lab's ability to capitalize on its contract pipeline.

National Security Tailwinds and Technological Trends

The U.S. government's FY2025 budget of $28.8 billion for the Space Force has prioritized RDT&E for LEO constellations and next-generation missile-warning systems. Rocket Lab's focus on small satellites and rapid deployment cycles aligns with this strategy, as proliferated LEO architectures offer cost advantages and operational resilience compared to traditional geosynchronous orbit (GEO) systems.

Emerging Very Low Earth Orbit (VLEO) technologies-operating at altitudes between 250 and 400 kilometers-are further reshaping the landscape. These systems, which provide sharper imaging and reduced latency, are gaining traction for real-time intelligence and defense applications. Rocket Lab's expertise in miniaturization and sensor integration positions it to benefit from this shift, particularly as the U.S. and China accelerate VLEO deployments.

Risks and Long-Term Outlook

Rocket Lab's path to sustained outperformance is not without challenges. Its negative net margin of 35.64% in Q3 2025 highlights the need for continued cost management. Additionally, the company's reliance on government contracts exposes it to budgetary shifts and geopolitical risks. However, its on-ramping to the National Security Space Launch (NSSL) Phase 3 Lane 1 contract demonstrates growing credibility-joining industry giants like SpaceX and Blue Origin-demonstrates growing credibility in the defense launch market.

For investors, Rocket Lab's strategic alignment with national security priorities, technological agility, and financial resilience present a compelling case. As the U.S. military accelerates its transition to proliferated LEO systems, Rocket Lab's vertically integrated model and contract backlog suggest it is well-positioned to outperform in 2026.