Forbes’ real-time wealth tracker puts founder and chief executive Sir Peter Beck’s worth at US$4.7b following the latest surge.

This is good news for the 32,000+ Kiwis who own shares in his firm, Beck’s philanthropic foundation and the New Zealand tech startups, which Beck is a prolific investor in.

The satellites Rocket Lab will design and build under its big new contract will form part of a network being developed by the US Space Force (part of the US Air Force) for communications and detection of new threats, such as hypersonic missiles.

The deal includes potential for add-ons that could take its total value to US$1b.

This comes on top of a previously announced US$515m SDA contract, meaning US military contracts now dwarf everything else in the Kiwi-American company’s forward order book.

On January 9, there was more evidence Rocket Lab had joined the top table as Beck hosted Hegseth at the firm’s plan in Long Beach, California.

Hegseth also visited Lockheed Martin and Elon Musk’s SpaceX on his “Arsenal of Freedom” tour, focused on US manufacturing (Rocket Lab also makes satellite components and assembles rockets in Auckland).

The tour followed an overhaul of the Department of Defence’s procurement policy, announced by Hegseth in November. The policy’s aim is to speed up weapons development and acquisition by first finding capabilities in the commercial market before the government attempts to develop new systems.

“This company, you right here, are front and centre, as part of ensuring that we build an arsenal of freedom that America needs,” Hegseth told several hundred cheering Rocket Lab workers, according to an LA Times report on his visit.

“The future of the battlefield starts right here with dominance of space.”

Legacy defence contractors had been slow to innovate, Hegseth said. He touted Rocket Lab as a more nimble player and said it had one of the “coolest factory floors” he had ever seen.

In a LinkedIn post, Rocket Lab referred to Hegseth by his self-styled title “Secretary of War”. In its social posts, SpaceX stuck with “Secretary of Defence”.

It was another sign that as Musk struggles to rehabilitate himself politically, SpaceX’s only real commercial rival is making hay.

However, not all are impressed by Rocket Lab’s expanding defence business.

In October, 20 protesters were arrested outside the New Zealand Aerospace Summit in Christchurch during a demonstration organised by Peace Action Ōtautahi.

2026 is shaping up to be a big year for Rocket Lab, with its large, crew-capable Neutron rocket due on a Virginia launchpad shortly for its first test flight.

On January 7, Rocket Lab said Gold – one of two spacecraft on their way to orbit Mars – had passed the point of gravitational balance between the Earth and the Sun, some 1.5m kilometres away.

The overall space sector is hot.

SpaceX is preparing to go public this year and has opened a secondary share sale that would value the company at US$800b. That would be twice the value of when it last raised funds in July 2025.

After various raises, founder Musk’s stake has been diluted to around 40%, according to the Wall Street Journal.

On a recent investor call, Beck mulled whether Rocket Lab should build and launch its own constellation of satellites, which would be capable of competing with the SpaceX-owned Starlink.

With its Neutron and Electron rockets – which will cost customers US$55m and US$7.5m, respectively, per flight – and its expanded satellite production capability, Rocket Lab would have the means to create its own constellation, Beck said.

It was only a question of whether it was the right strategy.

Starlink has been a cash cow for SpaceX, with rural New Zealanders alone pumping more than $100m into the service last year.

Chris Keall is an Auckland-based member of the Herald’s business team. He joined the Herald in 2018 and is the technology editor and a senior business writer.