Covering Space Sector Market Trends & Indices for December 2025, including:
 
Following a 14% decline in November, our Core space index bounced back strongly in December, gaining 18% vs. the broader market performance of +1%. For 2025, our Core index gained 107% vs. a gain of 11% for the Russell 2000 and 16% for the S&P 500.
Our Frontier index posted its best month since May, gaining 19% to finish the year with a 47% gain. Thematically, “sovereignty” names were the best performers (full - year), while companies focused on cislunar space all declined on a full - year basis.
The EO sector was the best performer in December (+25%), led by Planet’s 66% gain . Space Hardware reversed its 12% decline in November, increasing 21 %. Gov’t Services was the laggard ( - 4%) in December and the poorest - performing sector in 2025 (up 19%).
The “sovereignty” theme was the big winner in 2025, lifting stocks in Europe, Japan, and even the US . In Europe, every public space company except Eutelsat, (+10%) at least doubled, ranging from SES (+105%) to GomSpace (372 %). Meanwhile , Japan’s $1.8B military imagery program boosted SAR imagery providers Synspective and iQPS by 145% and 58%, respectively.