SpaceX's massive IPO triggers a surge in European space stocks

The announcement of the initial public offering of SpaceX, Elon Musk's space company, triggered a sharp rise in space sector stocks in Europe on Thursday, as investors anticipated a massive revaluation of the entire satellite and space technology industry.

The French group Eutelsat jumped 20%, while the German manufacturer OHB gained 15%, reaching its highest level in over a year. The Luxembourg-based operator SES also rose by 3,7%. This surge comes after SpaceX officially filed for an initial public offering in the United States.

If it achieves the expected valuation, the IPO could become the first US IPO exceeding $1 trillion. This prospect is fueling market enthusiasm for the entire space sector, considered one of the major drivers of technological growth in the coming decades.

Marco Fuchs, CEO of OHB, believes the IPO will benefit the entire market and dismissed fears of a massive diversion of European capital to the United States. He argues that SpaceX's IPO actually confirms the immense growth potential of the global space industry.

“We are on the cusp of a true space boom,” the executive told Reuters, stating that SpaceX’s growth forecasts aligned with his own company’s projections. This positive momentum extends a particularly favorable week for European space companies, several of which saw their stock market value rise by nearly a third.

Financial analysts believe that SpaceX's IPO could serve as a benchmark for revaluing European satellite companies, which have traditionally been valued well below major American technology firms. Stéphane Beyazian, an analyst at ODDO BHF, believes that SpaceX's valuation multiples will be significantly higher than those of Eutelsat or SES.

After a difficult 2025, marked by concerns about competition from low Earth orbit satellite constellations and the risks of market overcapacity, the European sector is regaining momentum. Investors now seem to be betting on a new phase of expansion for the space economy, driven by the rise of private projects and global satellite infrastructure.