Covering Space Sector Market Trends & Indices for February 2026, including:
Time for a breather. After surging 50% since the end of November, our Core index declined 7% in February, underperforming the broader market (S&P 500; -1%). Our Frontier index declined 5% following a 72% gain since November.
A&D primes were the best performing sector (-2%) in February, while ground hardware was the biggest underperformer (down 10%). Despite the slip, all four space sectors (satcom, EO, space & ground hardware) have gained at least 20% YTD and are up 2x to 2.5x y/y.
Space hardware exhibited continued high volatility, with six of 15 companies declining 20% or more. That said, the sector still carries the industry's highest valuation multiple at ~33x consensus 2026 AEBITDA.
Satcom was the best performing space sector (down 4%), despite a 35% decline by AST. The old guard led the way, with JSAT up 24% and Iridium up 15%.
Singapore-based AddValue was the best performing stock in the quarter (+30%) and y/y (up +11x), while shares of Satellogic lost 35% following a shelf offering.
