CNBC: IPOX® Analyst Lukas Muehlbauer on the Resurgence of Space IPOs

The latest edition of the CNBC Investing in Space newsletter explores the renewed momentum in the space sector's IPO market. After a period of relative quiet, several space-focused companies have successfully gone public this year through both traditional listings and SPAC mergers. The article highlights the recent Nasdaq debut of Firefly Aerospace, as well as the successful listings of Karman Holdings and Voyager Technologies, signaling a potential new wave of investor interest in the space economy.

IPOX® Research Associate Dr. Lukas Muehlbauer was featured in the article, offering his expert analysis on the favorable conditions for these listings. Muehlbauer noted this is “definitely a good time for Space IPOs,” citing factors such as national defense priorities. He explained that while many of these firms are shielded from certain trade risks, they are not entirely immune. “American space companies are well-insulated from tariffs on the revenue side, especially when predictable income streams are provided by U.S. Government contracts - a common feature for defense-adjacent firms,” Muehlbauer stated. “Still, most firms in the sector are dependent on foreign-made satellite components, creating a vulnerability to cost increases and deployment delays caused by trade disputes.”

Looking ahead, Muehlbauer commented on the evolving competitive landscape, noting that increased competition in the private launch market could drive down costs. He concluded that this trend “will be a key factor in lowering the sector’s high entry barriers, making a new generation of space-based business models commercially feasible.”

Read the full article by Ruxandra Iordache on CNBC: https://www.cnbc.com/2025/08/08/investing-in-space-ipos-are-rearing-their-heads-again.html