After all, Rocket Lab’s most recently reported New Zealand revenue was $431m (for the year to December 31, 2025), and Sir Peter Beck’s firm is by far and away our largest aerospace player.
On the next tier are Dawn Aerospace and Syos Aerospace, which are also fast-growing companies but somewhere under $100m each in annual revenue, while Kea Aerospace is largely pre-commercial.
And while there are loads of smaller players – Outset Ventures counted 230 – most are below $2m in revenue, and some are well below that or pre-commercial.
The $2.68b figure comes from a survey by Deloitte Access Economics and Space Trailblazer that was commissioned by the Ministry of Business, Innovation and Employment (MBIE).
Source / Deloitte and Space Trailblazer report for MBIE, published April 2025
It’s based on a survey carried out between November 2024 and January 2025, capturing data for 2024.
A broad brush was used to reach the headline figure. For example, the $1.277b it cites in “space applications” includes Halter, because its smart collars for cows use GPS and Sky TV, because it offers television via satellite. Tech Insider thinks the next economic census of the industry could do with some tighter definitions.
However, there’s lots of growth to capture yet, it must be said. Tech Insider joined a group of 20 or so mainly international visitors for a pre-Aerospace Summit tour of some of Christchurch’s aerospace players today, including Dawn, Kea, Fabrum and the University of Canterbury (read more on all three in our Space City segment of the Herald’s recent Project Canterbury special here).
The tour also took in an 80-year-old manufacturing firm with 180 staff, which was taking on a further 20 – in large part because of a growing business making components for Rocket Lab’s Electron rockets. I’ll have more on this firm in a future Tech Insider, but it’s one of many that have under-the-radar slices of aerospace business.
Rocket Lab hiring spree
Rocket Lab, now incorporated in the United States and listed on the Nasdaq, had more than half its staff in North America even before it doubled in size with its recent deal to buy satellite network operator Iridium for US$8b.
But the firm has also been growing its local operation as it increases its number of Electron launches, expands its satellite business (parts for which are made in Auckland) and uses components for its pending carbon fibre Neutron rocket, which are made in Warkworth at SailGP’s old plant.
Rocket Lab recently said it had more than 1000 staff in NZ – making it far and away our largest direct employer in the industry (Dawn Aerospace is second with 160 between NZ and the Netherlands).
And Beck’s firm is currently advertising for 92 local roles between Auckland, Waikato and Mahia.
You don’t necessarily have to be a rocket scientist, either. There are lots of machine operator roles, plus general positions from cost analyst to inventory control to IT to social media to “transportation security officer”.
Ramped up protests expected
Dawn Aerospace is also in hiring mode.
The pre-summit tour heard from strategic development lead Nick Marshall – himself a recent recruit from Britain, where he had a British Army signals role – who said Dawn was recruiting for a defence lead in Germany as it opened an office in that country.
“We need a centre of mass in the centre of Europe for our defence engagement, as well as civilian commercial engagement. Demand signals from potential customers are huge.”
Asked about a possible tilt toward defence contracts, Marshall said:
“Dual-use is the phrase of the day. But I don’t see it as dual use. I just see it as use.
“Everything that we currently have and the lessons that we are learning globally out of unfortunate conflict mean that everything that has a civilian use also has a defence use.”
Still, a new executive role called “defence lead” – does that mean Dawn’s taking a tilt toward military contracts?
“We mean defence in the defence sense. We’re not about to weaponise anything,” Marshall said.
Tech Insider was present when Rocket Lab’s Beck recently appeared for a Q&A with University of Auckland Business School students.
One student asked about Rocket Lab’s contracts with the US Space Force and US Department of Defence (or Department of War as the Trump Administration now refers to it, notwithstanding that only Congress could change its name).
“We are a defence contractor. We do defence work. But we draw the line at weapons,” Beck replied.
US Secretary of Defence Pete Hegseth toured a Rocket Lab plant in the US with founder Sir Peter Beck in January.
Rocket Lab has one contract that will contribute to US President Trump’s envisioned “Golden Dome” to defend the US from missile attacks.
“We don’t engage ourselves in weapon systems and all of that, but you can’t be so naive as to think that you know a satellite that you put up in space for doing commercial things can’t be used one day for doing military things.”
Beck added, “All of us in this room benefit from the space defence infrastructure. You all use GPS. GPS was originally designed for weapons targeting. It’s still used for weapons targeting, but it also delivers your pizza, and you know where your Tinder date is when you need to turn up at the restaurant.”
Beck’s arguments are persuasive for Tech Insider.
And at the blunter end of things, I’d also be thankful for Kiwi aerospace technology if I were living in a Ukrainian village and an incoming Russian projectile was knocked out of the sky by a Thumper drone made by Tauranga’s Syos Aerospace.
Shifting optics
There’s been more and more of a military air about Kiwi aerospace over the past little while.
That ranges from US “Secretary of War” Pete Hegseth visiting Rocket Lab’s US headquarters to a Dawn Aerospace Aurora Spaceplane being used by the NZ Defence Force (NZDF) to test the frigate Te Kaha’s defences against high-speed projectiles (and Marshall said more NZDF work is on the way), to Air Vice-Marshal Darryn Webb and other Royal New Zealand Air Force brass being on hand for the opening of Kea’s Burnside building.
Webb said Kea’s uncrewed aerial vehicles were in the running for a maritime surveillance contract (although NZ’s direct defence spending on new aerospace technologies is minimal compared with allies’ spending. The 2025 Defence Capability Plan gave an “indicative cost” of between $100m and $300m for a technology accelerator by 2028. But in the 2026 Budget, only $17.67m in operational and capital funding was provided for the accelerator through to 2029/30.
Those suspicious about the growing defence element would not have been impressed to learn that a researcher with the US Space Force was a member of the party touring Dawn, Kea and other Christchurch sites.
And the September 15 announcement by US Air Force Secretary Troy Meink that the US has put weapons in space for the first time (in some undefined form) raised the temperature worldwide.
The upshot is that Aerospace Summit organisers are expecting the annual protest outside – and attempts to disrupt the conference inside – to be rowdier than ever this year.
Attendees have been told to arrive early for mandatory bag searches and other security measures, and there’s been a clampdown on the cheap student tickets that protestors have previously used to slip inside.
Will there still be disruption? We’ll find out tomorrow.
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.