(MENAFN - Investor Ideas) Investorideas ( ), a go-to investing platform covering aerospace and defense stocks releases a snapshot on publicly traded companies entering the space economy featuring KULR Technology Group, Inc (NYSE American:KULR ), a global leader in energy management and vibration reduction solutions, with a long history with NASA.

This news is paid advertisement/ news disseminated on behalf of/issued on behalf of KULR Technology Group, Inc.

For investors looking for the next big thing, look up; space stocks may be the next frontier in investing.

Stocks mentioned in this article: Rocket Lab USA Inc (NASDAQ:RKLB ), Redwire Corporation (NYSE: RDW ), Virgin Galactic Holdings, Inc. (NYSE: SPCE ).

McKinsey says , "We estimate that the global space economy will be worth $1.8 trillion by 2035 (accounting for inflation), up from $630 billion in 2023. This figure includes both "backbone" applications-such as those for satellites, launchers, and services like broadcast television or GPS-and what we term "reach" applications"-those for which space technology helps companies across industries generate revenues."

"In 2023, backbone applications made up $330 billion, or slightly greater than 50 percent, of the global space economy, while reach applications represented $300 billion. The expected annual growth rate for backbone and reach applications is twice the projected rate of GDP growth over the next decade."

Leading the race in space technology, Elon Musk's SpaceX was founded in 2002 to expand access to outer space.

According to a recent story on CNBC , "The valuation of Elon Musk's SpaceX hit $350 billion based on a secondary share sale."

"SpaceX, as well as investors, agreed to buy stock from insiders in a $1.25 billion purchase offer at $185 a share, according to copies of the offer obtained by CNBC. The round does not include raising new capital, as the purchase offer represents a secondary sale of existing shares."

KULR Technology Group, Inc (NYSE American:KULR ) just announced its plans to launch the KULR ONE Space (K1S) battery via launch integrator Exolaunch on a SpaceX rideshare mission scheduled for 2026. This mission represents a pivotal milestone in KULR's ongoing commitment to developing safer and higher-performing battery systems tailored for space applications for a space battery market that is expected to grow from $3.9B to $6.35B by 2030 per Virtue Market Research .

This pathfinder mission will integrate multiple configurations of the KULR ONE Space (K1S) battery into a 6U SmallSat. A 6U SmallSat is a lightweight satellite with a standardized structure measuring approximately 10 cm x 20 cm x 30 cm, built using durable materials like aluminum or carbon-fiber composites to endure the extreme conditions of space. The K1S battery configurations have been carefully selected to demonstrate cell and pack performance, as well as electronic functionality in orbital environments. This mission will also validate the flight capabilities of the K1S, the first commercial-off-the-shelf (COTS) lithium-ion battery series engineered to fully comply with NASA's JSC 20793 battery safety standard.

Key highlights of the K1S rideshare mission include:

• Integration of top cells from leading cell manufactures: The K1S variations will feature state-of-the-art 18650 cells delivered by top-tier original equipment manufacturers (OEMs), including LG, Samsung, Amprius , and MOLICEL .
• Utilization of cells strategically selected by NASA: One of the K1S systems incorporated into the mission will be constructed with MOLICEL 18650-M35A cells with associated NASA Initial Lot Assessment (ILA), Lot Acceptance Testing (LAT), and WI-37A Cell Screening , previously referred to by KULR as the "Golden Lot".
• Incorporation of next generation low-temperature cell technology: If feasible, a version of the K1S architecture will include ultra-low-temperature performing cells capable of operating at -60°C without integrated heaters, further demonstrating KULR's innovative advancements.
• Advanced battery management system: The mission will also showcase KULR's newly developed battery management system (BMS) architecture, which provides a COTS solution designed to meet the stringent safety requirements of the 20793 standards.
• Gaining flight heritage for commercialized variations of safe battery architectures: The K1S batteries are engineered with passive propagation resistance and flame-arresting technology, delivering safer and higher-performing systems at a fraction of the cost compared to traditional 20793-compliant batteries. This rideshare mission will provide additional flight heritage to the architectures developed by the KULR team.

Dr. William Walker, KULR Chief Technology Officer, and Peter Hughes, KULR Vice President of Engineering, jointly stated, "The upcoming mission will serve as a platform to showcase the exceptional capabilities of KULR's cutting-edge battery solutions, reinforcing the Company's position as a leader in advanced energy technologies for space and aerospace applications. The mission aligns with KULR's ongoing efforts to revolutionize the space industry by offering reliable and high-performance energy solutions that meet the most stringent safety standards, all while reducing costs for customers."

"We are excited to bring our KULR ONE Space batteries to orbit on this rideshare mission," said Michael Mo, CEO of KULR Technology Group. "This mission underscores our commitment to providing safer, more efficient, and cost-effective battery solutions for the most demanding environments. With the integration of next-generation cells and our advanced BMS architecture, we are setting a new standard for COTS battery technology in space."

Other companies in the space economy include Rocket Lab USA Inc (NASDAQ:RKLB ), a global leader in launch services and space systems. Rocket Lab recently announced it successfully launched a suborbital mission in November to test hypersonic technology for the Department of Defense.

From the news: This mission provided hypersonic test launch capabilities under the Multi-Service Advanced Capability Hypersonics Test Bed (MACH-TB) project, which aims to increase hypersonic flight testing for the United States in support of technology maturation. The project was awarded by Naval Surface Warfare Center (NSWC) Crane through the Strategic and Spectrum Missions Advanced Resilient Trusted Systems (S2MARTS) Other Transaction Authority (OTA) vehicle on behalf of the U.S. Department of Defense Test Resource Management Center (TRMC).

Continued: George Rumford, Director of the TRMC, states: "Leveraging commercial launch services allows our Nation to affordably test components early and frequently, accelerating hypersonic development."

Continued: Rocket Lab's test platform showcased a new suite of cutting-edge technologies optimized for hypersonic technology tests with vastly increased payloads. Rocket Lab also designed, manufactured, assembled, and integrated the experimental hypersonic instrumentation which was launched on this mission, but on a highly accelerated timeline.

Redwire Corporation (NYSE: RDW ), a leader in space infrastructure for the next generation space economy, was awarded a $45,469,600, five-year cost-plus-fixed-fee contract that will be incrementally funded by the Air Force Research Laboratory (AFRL) Space Vehicles Directorate for the design, development, and testing of prototype software and hardware for mission critical technologies. The contract will support the AFRL Space Vehicles Directorate's efforts to equip the joint warfighter with a spectrum of agile, effective, resilient, and affordable space mission capabilities.

From the news: Redwire will research and develop novel and emerging spacecraft technologies to include large deployable structures, thermal management capabilities, payload accommodations, and improved analysis and testing methods for in-space and terrestrial national security applications. This contract builds on a previously awarded AFRL contract to mature space domain technologies from early functional proof of concept through demonstration of full system or architecture prototypes.

"We are honored to have the opportunity to continue supporting AFRL's Space Vehicles Directorate through this new contract award," said Adam Biskner, President of Redwire Space Systems. "We have a long and proud legacy of supporting AFRL, and this award demonstrates our joint interest in continuing to support the mission of developing and transitioning space technologies to provide enhanced space-based capabilities to the warfighter."

Virgin Galactic Holdings, Inc. (NYSE: SPCE ) and Ente Nazionale per l'Aviazione Civile ("ENAC"), the civil aviation authority of Italy, recently announced the signing of an Agreement of Cooperation to jointly study the feasibility of Virgin Galactic conducting spaceflight operations from Grottaglie Spaceport in the Puglia region of Southern Italy.

From the news: The study will evaluate the necessary technical requirements for suborbital spaceflight operations at Grottaglie Spaceport, the surrounding area's ability to support private and research suborbital spaceflight customers, and the compatibility of Italy's suborbital regulations with those in the United States, where Virgin Galactic is headquartered.

Continued: Phase one of the study, anticipated to be completed in 2025, will examine Grottaglie's airspace compatibility with Virgin Galactic's requirements and unique flight profile. This will include examining any regulatory requirements, studying the facilities infrastructure and ensuring supply chain capability to support repeated spaceflights. Presuming these criteria are satisfied, phase two of the examination would expand to consider regional workforce requirements as well as the potential economic stimulation to Italy and Puglia generated by multiple spaceflights per week.

The announcement comes 18 months after members of the Italian Air Force and the National Research Council of Italy conducted research aboard Virgin Galactic's June 2023 'Galactic 01' mission from Spaceport America in New Mexico. The flight marked the Company's inaugural commercial spaceflight.

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