By now, everyone and their grandmother is aware of this SpaceXthe company’s record-breaking public offering took place last Friday. But despite all this pomp and ceremony, the shares cannot join S&P500 until June 2027 at the earliest due to eligibility rules.

This doesn’t mean that investors can’t buy the stock, it’s just that no index tracker will benefit from doing so.

This does not mean, however, that S&P will completely ignore the space topic. This simply means that its exposure to a fast-growing industry comes from a more diversified set of stocks.

For me, the key question is uncomplicated: which listed companies could benefit from this while SpaceX waits?

Why space stocks look captivating

Space trade is not just about rockets. It also includes satellites, communications equipment, sensors, launch support and industrial parts.

This matters because quieter companies can often earn more consistently than headline-grabbing names.

If I’m looking at the S&P 500, I want companies that have a real business, not just a story.

It is worth noting that these companies are also involved in defense to varying degrees, which does not suit every type of investor.

However, Honeywell is probably the least committed to defense of the three.

A closer look at Honeywell

Honeywell is a good example because it’s not just a space magazine, and that’s the point. The company is based in a much broader industrial company, but its aerospace division gives it access to systems needed for its space programs.

This may be more attractive to a novice investor than a miniature pure play that still burns cash. Honeywell also fits into the “pick and shovel” idea: it sells tools, systems and parts that assist implement the topic.

Its 2025 sales rose 8% to $37.4 billion, adjusted earnings per share (EPS) reached $9.78 in the latest numbers, and management continued to reward shareholders with regular dividend increases.

Still, any slowdown in aerospace, building systems or China could hurt profits. Additionally, the company faces execution risk as it reshapes its portfolio and prepares for a more focused future.

What about outside the S&P 500?

Some of the most electrifying space names are not in the index. AST SpaceMobile, Iridium CommunicationsAND Rocket laboratory all are closely related to the commercial space, but are currently outside the S&P 500 index.

They offer greater growth potential, but are also more risky and volatile, which matters if you’re fresh to the industry.

There is also a private market perspective. Baillie Gifford A Scottish mortgage investment fund has a vast stake in SpaceX, and according to the latest reports, this stake is approximately 19.3% of the portfolio.

Final thoughts

For early-stage investors seeking exposure to space, the message is uncomplicated: the opportunity is real, but it is found more in the supporting companies than in the rockets themselves.

That’s why Honeywell, Boeing and Lockheed Martin deserve a closer look, even if they’re not the flashiest names in the industry.

Is it worth investing £5,000 in Honeywell International now?

If investing expert Mark Rogers and his team have stock advice, it can pay to listen. After all, Twelfth Magpie’s flagship Share Advisor newsletter, which it has run for almost a decade, provides thousands of paying members with the best share recommendations from across the UK and US markets.

Mark believes there are 6 standout stocks that investors should consider buying right now. Want to see if Honeywell International is on the list?

Mark Hartley owns shares in A Scottish mortgage investment fund AND SpaceX.