Rocket Lab USA, Inc. (RKLB)

Rocket Lab: Why the space sector is 'far-reaching'

Rocket Lab (RKLB) will attempt to launch its first "Neutron" rocket by the end of 2024. NASA recently tapped Rocket Lab, along with 14 other companies, to aid the space agency with payload integration services on suborbital rockets, high-altitude balloons, and orbital spacecrafts and satellites. Peter Beck, Rocket Lab CEO, joins Yahoo Finance to discuss the feasibility of the Neutron rocket launch timeline as well as the space sector's profitable intersection with other industries. Beck elaborates on the growth of the space industry and how companies like Rocket Lab are positioned to deliver far-reaching services: "We see that businesses that typically haven't had anything to do with space becoming quite reliant on it. And our view [is] that the large, successful space companies of the future are not going to be solely a launch company or solely a satellite manufacturing company because the sheer power when you combine these two elements together, space is a giant engineering compromise, if you will. So if you can both add launch and space systems together, then you can provide services that are far superior than if you're doing it in a more traditional sense. And we've seen more and more companies come to us and they have no knowledge of the space industry nor do they want to, but they just want a service." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino