Repost: Hellen talks about RKLB

$Rocket Lab(RKLB.US) Video source: Rocket Lab takes a crucial step, market cap to double steadily.

I've been following this poster's content, she's been tracking RKLB closely. The latest video is out, and I'm sharing the relevant content, summarizing her text as follows:

Rocket Lab (RKLB) Comprehensive Analysis Report: Growth Path from Small Rockets to Space Service Platform and Future Market Positioning

1. Introduction: Why I Follow Rocket Lab?

Today, I'm here to talk about Rocket Lab (RKLB) again. This is my fifth discussion about this company since 2021. Over the past four years, Rocket Lab's business model and technical capabilities have grown and expanded, gradually forming a differentiated competitive edge in overall space services.

From a stock price perspective, the first three years were mostly about steady accumulation, but in the fourth year, there was a breakout, making Rocket Lab a force to be reckoned with in the commercial space sector.

2. Market Performance of Electron Small Rocket

Rocket Lab's Electron rocket is a representative product in the global small launch market. Although its payload capacity is modest (around 300 kg), its high launch rate, strong reliability, and excellent cost control have made it a "dark horse" among global commercial space companies.

In 2024, Electron ranked second globally in launch frequency, just behind SpaceX's Falcon 9, a strong endorsement of its technical and launch resource management capabilities.

3. Strategic Layout of Neutron Medium Rocket

Rocket Lab is advancing the Neutron rocket, a reusable medium-lift launch vehicle with a maximum payload of about 13 tons and a recoverable first stage.

Compared to Electron, Neutron is better suited for deploying satellite constellations in bulk and has the potential for future missions to geostationary orbit, the Moon, and even Mars, significantly expanding Rocket Lab's mission coverage.

Currently, Neutron has confirmed contracts worth $29.35 million, with potential orders exceeding $100 million from the U.S. Space Force.

4. Building "End-to-End" Space Service Capabilities

The biggest difference between Rocket Lab and SpaceX is that Rocket Lab isn't just a launch company—it provides a complete end-to-end space solution, including:

Satellite design and manufacturing

Launch services

In-orbit data transmission and management

Post-mission services like sample recovery

For example: If you have a biopharmaceutical sample you want to study in microgravity, Rocket Lab can customize a satellite platform based on the sample's volume, weight, experiment duration, and orbit altitude, launch it into orbit, collect data via ground stations, and return the sample afterward. The entire process eliminates the need to coordinate with other suppliers.

This model is entirely different from SpaceX's "launch-only, no-platform" model. As a result, Rocket Lab's business model offers higher customer stickiness and added value.

5. IPO and Shareholder Structure Advantages

Rocket Lab went public on Nasdaq in 2021 via SPAC (ticker: RKLB), with a current market cap of around $12 billion. Over the past year, its stock price has surged over 480%.

Compared to most unlisted commercial space companies, RKLB stands out for its transparency, fundraising ability, and liquidity in capital markets, providing strong support for rapid expansion, acquisitions, and technological transformation.

6. Strategic Significance of Acquiring German Optical Communications Company Maneric

Recently, Rocket Lab announced the acquisition of German company Maneric (also known as Maric), which specializes in inter-satellite optical communication relay modules and has long served clients like ESA, the German government, and U.S. defense contractors.

This acquisition is significant because:

Satellite Constellation Capability: Rocket Lab will no longer just "launch satellites for others" but will be able to build and operate its own constellations.

Stable Cash Flow: Satellite constellation services offer a "subscription-based" long-term revenue model, far superior to one-time launch revenue.

Breaking into the European Market: ESA's geo-return policy requires local companies for contracts. By acquiring Maneric, Rocket Lab enters the core of Europe's space supply chain.

Acquisition details:

Initial purchase price: $75 million

Final price capped at $150 million (including performance-based payments)

Payment via cash or stock (stock payment may trigger short-term dilution)

Rocket Lab will establish its first European HQ in Munich, with a team of over 300.

7. Vertical Integration and Manufacturing Expansion

This isn't Rocket Lab's first acquisition in the supply chain. Over the years, it has completed six key acquisitions, covering:

Separation systems

Flight control systems

Solar cells and composite materials

Satellite platform modules

Now, optical communication modules

The business rationale: Rapidly integrate existing tech + scale production + reduce costs + standardize delivery.

With laser communication modules in-house, Rocket Lab can serve more large constellation projects and strengthen its own constellation business model.

8. Comparison with Competitors: SpaceX / Relativity Space

SpaceX: Own rockets + own constellation (Starlink) + strong vertical integration + massive cash flow

Relativity Space: Emerging competitor, Terra rocket similar to Neutron, recently appointed ex-Google CEO Eric Schmidt as CEO, with stronger political-commercial ties

Rocket Lab's edge: More stable tech path, broader client base, deeper vertical integration, and public listing for funding.

But with rising competition, it must be wary of Starlink monopolizing the "LEO internet + rockets" loop.

9. Leadership of Rocket Lab CEO Peter Beck

Peter Beck, a New Zealander, once dreamed of working at NASA but founded Rocket Lab in New Zealand after being rejected. He has grown it from a small rocket firm to an international player.

His traits:

Pragmatic, low-key, and humorous

Focuses on product over hype

Single-handedly boosted New Zealand's space GDP and tech confidence

Now knighted as "Sir Peter Beck," he symbolizes New Zealand's entrepreneurial spirit.

10. Conclusion: RKLB's Future

Rocket Lab currently has:

$500 million in cash

Vertical integration

Full-chain capabilities: launch + platform + constellation + comms

Public listing + market recognition

If this acquisition succeeds, RKLB may enter its "second growth curve." Unlike SpaceX, its path resembles a "SaaS platform in space": light on launches, heavy on services, and long-term client lock-in.

For investors eyeing commercial space, Rocket Lab is unignorable.

Thanks for reading. Stay tuned for deeper reports on Neutron, constellation plans, and RKLB's potential in government contracts.