An exciting growth area that has captured investor interest lately, as evidenced by some of the stock action we’ve seen in companies related to the sector, is space. Even the U.S. government has focused on putting more money into space, asserts Eddy Elfenbein, editor of Growth Stock Advisor

One very interesting space company that is well positioned to grow along with the increasing public and government focus on space is Maxar Technologies (MAXR). Need a satellite view of your crops? Or weather reports to guide your shipping fleet? That’s what Maxar does. 

Over the past few years, the firm has cobbled together a number of smaller space related analytics companies, and now provides space based services to a variety of industries. 

While the company had revenue of $479 million in its latest quarter, it is still working on paying down debt and becoming profitable. It lost $0.44 per share last quarter, but it appears investors are looking to the future, as the stock has more than doubled since that report.

It is very likely Maxar will be a beneficiary of the stand-up of the new Space Force. The potential for new government business, combined with its current commercial portfolio of clients, make the company a potential big winner in space.

Iridium Communications (IRDM) controls the largest commercial satellite fleet in the world.  With 66 low earth orbit (LEO) satellites, Iridium boasts that it covers 100% of the world. Their satellite communications are invaluable as backup to the U.S. military operating in remote areas. 

Just last month, they renewed a contract for Enhanced Mobile Satellite Services to the government. And, it’s only logical they would be a beneficiary of a Space Force deployment.

In their latest quarterly report the company lost $0.14 per share, but increased their outlook for future growth. They announced the capture of not only new communications contracts, but growth in Internet of Things (IoT) service providers as well.

Space has been on a low simmer for several years. These three companies will help you capture the growth as that simmer gets closer and closer to a boil.

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