5 Best Defense Contractor Stocks to Buy Right Now

2. Rocket Lab Corporation (NASDAQ:RKLB)

Stock Upside Potential: 31.23%

Number of Hedge Fund Holders: 45

Rocket Lab Corporation (NASDAQ:RKLB) is one of the best defense contractor stocks to buy right now. On March 23, Rocket Lab Corporation (NASDAQ:RKLB) inked a $190 million contract for HASTE launches. It represents the single largest launch contract in the company’s history, bringing the total launch backlog to more than 70.

Under the $190 million contract, the company is to support the US Department of Defense’s initiative to accelerate hypersonic flight testing. The test flights are to occur over a four-year period. The multi-year launch partnership builds on the company’s success in delivering high-cadence hypersonic capabilities at scale.

The company continues to assert its commercial responsiveness and precision that hypersonic programs demand, with a 100% mission success rate across all HASTE launches. It has already sold 28 new launches in Q1 2026, almost as many as it sold last year. The exponential growth underlines Electron’s role as the small launch vehicle of choice for commercial, civil, and defense missions.

Rocket Lab Corporation (NASDAQ:RKLB) provides defense services as a prime contractor for the U.S. Space Development Agency (SDA), designing and manufacturing 18 missile-tracking satellites. It specializes in launching rapid-response satellites via Electron rockets, conducting hypersonic test flights (HASTE), and supplying military-grade space systems.