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Key takeaways
- SpaceX launched a next-gen GPS satellite into orbit for use by the U.S. military
- The company has plans for additional launches in 2023
- Within the space exploration sector, there are a handful of companies for investors to invest in
SpaceX launched another satellite into orbit recently to improve GPS and navigation. Additional launches are planned in the coming months to complete this round of improvements and help with other technologies.
Here is more information about the recent launch and how investors can earn a return by investing in this space.
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What the satellites will be used for
On January 18, 2023, SpaceX launched a next-generation GPS satellite into orbit for use by the U.S. military. The satellite is being used in addition to the existing constellation of GPS and navigation satellites currently used by the military.
GPS 3 satellites improve the quality of the communications used by military smartphone apps and various communication systems that require speed and security. Consumer GPS receivers in cars and phones can also use the receivers.
These satellites are built by Lockheed Martin and represent the latest technology that’s been developed to date for GPS.
A Vice President of Lockheed Martin, Tonya Ladwig, states that the GP3 satellites are “the most powerful, resilient GPS satellites ever built. We provide three times greater accuracy over existing satellites in the constellation and have eight times increased anti-jamming capacities.”
More launches planned for 2023
The recent satellite launch was the sixth successful launch for the program known as Block III. This program began in 2018 and is ongoing until all satellites in the series are in orbit. Lockheed Martin has four more GPS satellites ready to launch, and there are 22 launches planned after the initial ten have been completed.
Known as GPS-110F (Follow-On), the next 22 satellites have strong protection against hackers and foreign militaries. The protection is up to 60 times stronger than what’s currently available.
Investment opportunities
SpaceX is a privately held company, which means investors can’t buy shares of stock. However, investors seeking to invest in space exploration can purchase stock in other aerospace or defense companies competing with SpaceX.
Lockheed Martin is a good choice, especially with its long-term commitment to providing satellites for the GPS 3 program. That said, other aerospace companies are looking toward the future of supplying machines and equipment for use in space. They include the following companies.
Boeing (NYSE: BA)
Best known for commercial airlines, Boeing is also involved in space exploration. The company has been working with NASA and the International Space Station (ISS), collecting data to benefit space exploration further.
It also partnered with Lockheed Martin on the United Launch Alliance. Overall, Boeing has a strong presence in this sector that has no signs of slowing down.
Northrop Grumman (NYSE: NOC)
Northrop Grumman is a global aerospace, defense and security company that primarily works with the Department of Defense within the U.S. government. The company also works with customers in the private sector, providing various defense and security solutions.
Leidos (NYSE: LDOS)
Formerly Science Applications International Corp, Leidos solves complex scientific and engineering problems for private and public customers. The company has worked with NASA for over 50 years, helping to ensure safe and successful space missions.
Virgin Galactic Holdings (NYSE: SPCE)
Virgin Galactic is making space travel possible for everyone. With its spaceflights, customers can book a flight to outer space and see Earth from the outside looking in. The company has been testing its space flights and set the Spring of 2023 as the first commercial passenger flight.
The price for a ticket on one of the flights is $450,000, and the latest reports show that over 600 tickets have already been sold.
Rocket Lab USA Inc. (NASDAQ: RKLB)
Rocket Lab offers products and services covering many parts of space exploration. This includes building rockets used in launches, ready-to-go satellites and various components for machines.
The company has been involved with over 1,700 missions and has no plans of slowing down.
What investors should remember
These stocks represent companies engaged in both the private and public sectors of space exploration and those with contracts with the U.S. military. The aerospace industry is waking up after decades of stagnation and delivering working products once thought of as science fiction.
As with all investments, it’s critical to do your due diligence and select stocks that fit your risk tolerance levels. However, this can be time-consuming.
Fortunately, you can take a different approach. With the Emerging Tech Kit from Q.ai, you allow artificial intelligence to spot trends in the market and invest accordingly. It helps investors take the research piece out of investing and enables them to focus on other things instead.
The bottom line
While rockets and satellites have been launched into orbit for decades, the availability of new technology means that future launches will have more significant impacts. As a result, many companies are in this space, hoping to earn a profit as they partner with both the public and private sectors of space exploration.
Download Q.ai today for access to AI-powered investment strategies.
