Rocket Lab (NASDAQ: RKLB) just pushed the first launch of its Neutron rocket to 2027, and the stock has dropped more than 20%. But the company has grown beyond rocket launches to become a broader space technology company.
Could Redwire (NYSE: RDW) follow a similar path? With its space infrastructure business expanding and defense technology gaining traction, Redwire is benefiting from several growth drivers. The big question now is whether it has what it takes to become the next Rocket Lab.
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Redwire is becoming a major space infrastructure company
Redwire supplies the technology that enables space missions, including solar arrays, spacecraft components, and microgravity research systems. It also expanded into surveillance and autonomous defense.
Notably, Redwire’s core space business plays a key role in the industry’s next phase. For example, its Roll-Out Solar Array (ROSA) technology provides deployable solar power for spacecraft and orbital infrastructure. In fact, the company announced that the final pair of its ROSA wings launched to the International Space Station, helping it complete a major power modernization effort.
That gives Redwire exposure to several long-term trends at once: the commercial space market, government space programs, and rising defense spending. But the bigger opportunity now is that Redwire could evolve from a specialized supplier into a broader aerospace and defense technology business, opening more avenues for growth.
Defense adds another growth engine to Redwire’s business
Redwire’s acquisition of Edge Autonomy helped transform it into a more diversified defense company. The deal brought uncrewed aerial systems into its portfolio, including the Stalker and Penguin platforms. These systems are designed to support intelligence, surveillance, and reconnaissance missions, areas where the military is strengthening its autonomous capabilities.
Redwire also announced additional orders for the Stalker drone for the U.S. National Guard. On top of that, it was selected for the Space Systems Command’s $980 million NITE-STAR contract, creating opportunities to compete for future work.
Meanwhile, the company’s growing backlog is proof that it can already win contracts and offer better revenue visibility. In its second-quarter results, the company reported record revenue and a record contracted backlog, indicating more signed work is awaiting delivery.
