Space tech firm Voyager valued at $3.8 billion as shares surge in NYSE debut

The space industry is undergoing major policy shifts under President Donald Trump, which has proposed a $175 billion Golden Dome project that aims to create a missile defense shield in the U.S.
"Strategic government backing amid increased defense spending somewhat shields these firms from tariff-induced supply chain risks," said IPOX research associate Lukas Muehlbauer.
Founded in 2019, Voyager provides mission-critical space and defense technology. It had a total backlog of $179.2 million, as of March 31.

Voyager's IPO is a significant milestone for the broader space sector, indicating its progression towards greater commercial maturity, said Rob Desborough, managing director of Seraphim Space Investment Trust, an investor in Voyager.
In 2024, Lockheed Martin (LMT.N), opens new tab picked Voyager to supply propulsion and optical guidance systems, vital for the U.S. defense against long-range ballistic missile threats

NASA has granted Voyager $217.5 million to build Starlab, a potential successor to the International Space Station, which Voyager plans to operate with Airbus (AIR.PA), opens new tab, Mitsubishi (8058.T), opens new tab and Palantir (PLTR.O).

Voyager's flotation comes months after defense and space firm Karman (KRMN.N), opens new tab went public. Karman's stock had more than doubled, as of Tuesday's close.
"Although high entry barriers in the defense sector naturally limit the pool of IPO candidates, the current environment is encouraging established companies to go public," Muehlbauer added.