Space has always captured our imagination and now there are ETFs that provide exposure to this exciting theme.
According to Morgan Stanley, the global space industry could generate revenue of $1.1 trillion or more in 2040, up from approximately $350 billion in 2018. Bank of America estimates the space economy to grow to $3 trillion by that time.
Space tourism is no longer science fiction and even mars colonization, space-based manufacturing and asteroid mining could become real things in the coming years.
However, some of the most high-profile companies in this industry such as Elon Musk's Space X and Jeff Bezos' Blue Origin are privately owned and not accessible to retail investors. Richard Branson's Virgin Galactic is preparing to go public soon.
The Procure Space ETF (UFO) is the first pure-play space ETF. It holds companies that generate a significant portion of their revenue from space related businesses. Its top holdings include Inmarsat (IMASY), Iridium Communications (IRDM), Dish Network (DISH) and Garmin (GRMN).
The SPDR S&P Kensho Final Frontiers ETF (ROKT) holds companies associated with exploration of outer space and deep sea. Its top holdings include Boeing (BA), Northrop Grumman (NOC) and Teledyne Technologies (TDY).
To learn more about these ETFs, please watch the short video above.
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Click to get this free report The Boeing Company (BA) : Free Stock Analysis Report Northrop Grumman Corporation (NOC) : Free Stock Analysis Report Teledyne Technologies Incorporated (TDY) : Free Stock Analysis Report DISH Network Corporation (DISH) : Free Stock Analysis Report Garmin Ltd. (GRMN) : Free Stock Analysis Report Inmarsat PLC (IMASY) : Free Stock Analysis Report Iridium Communications Inc (IRDM) : Free Stock Analysis Report SPDR S&P Kensho Final Frontiers ETF (ROKT): ETF Research Reports Procure Space ETF (UFO): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report