Can Rocket Lab's Spacecraft Component Business Support Growth?

Rocket Lab (RKLB) is diversifying beyond launch services by expanding its spacecraft component manufacturing capabilities through acquisitions including Sinclair Interplanetary, Planetary Systems, and SolAero Technologies. The company now offers reaction wheels, star trackers, batteries, solar solutions, and optical systems to commercial and government customers. With projected earnings growth of 81.48% in 2026 and 240% in 2027, RKLB trades at a premium valuation (32.02X forward P/S) compared to the industry average of 7.81X, and has gained 30% over the past year.