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 - Free Report) 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 - Free Report) , Iridium Communications (IRDM - Free Report) , Dish Network (DISH - Free Report) and Garmin (GRMN - Free Report) .
The SPDR S&P Kensho Final Frontiers ETF (ROKT - Free Report) holds companies associated with exploration of outer space and deep sea. Its top holdings include Boeing (BA - Free Report) , Northrop Grumman (NOC - Free Report) and Teledyne Technologies (TDY - Free Report) .
To learn more about these ETFs, please watch the short video above.
Want key ETF info delivered straight to your inbox?
Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week. Get it free >>