As of this writing, NASA’s Artemis II mission is hours from splashdown in the Pacific Ocean off San Diego—the first crewed lunar flyby since Apollo 17 in 1972. Reid Wiseman, Victor Glover, Christina Koch, and Canadian astronaut Jeremy Hansen launched April 1 aboard the Orion spacecraft, flew around the Moon on April 6, and broke the record for the farthest any human has ever traveled from Earth at 252,760 miles. They splash down tonight.

The companies profiled here, Radian and Sierra Space, are building the next chapter of that story. NASA returns astronauts to the Moon’s neighborhood for the first time in fifty years, and the private sector is quietly developing the hardware that could eventually make the trip feel routine.

The notion of space tourism seemed like science fiction just a few years ago. Today, however, two innovative companies are leading the way into the wild (black) yonder, with ultra-fast spaceplanes that leave the world behind.

Radian Aerospace and Sierra Space have both developed revolutionary spaceplanes that can hit the 17,400 miles per hour mark, which is necessary to reach Low Earth Orbit. The Radian spaceplane is especially unique, as it is launched via a rocket-powered sled.

The sled is propelled at breakneck speeds across a traditional runway. If development proceeds as planned, it would represent a significant milestone in the space industry, as a single-stage spacecraft that eliminates the need for a booster stage.

Watch the Radian One concept video on the Radian Aerospace website./

As described in an article on Futurism, the Radian spaceplane launch system would reduce many of the technical hurdles and costs associated with spaceflight. The sled launch system certainly makes for a compelling concept video on the Radian Aerospace website.

The runway for the sled is around two miles long. Since the system is reusable, it would allow for quicker return trips, making space more accessible.

In an article on the Robb Report, Radian Aerospace CEO Richard Humphrey said that in comparison to a rocket, the system will create an experience that is “more comfortable and more like flying on a regular jet.” He also said that, unlike rockets, spaceplanes can invert and generally perform more complex maneuvers.

Though launched on a conventional rocket, Sierra spaceplanes can land on a commercial runway. The company’s Dream Chaser offering — named Tenacity — is targeting a free-flight orbital demonstration in late 2026, with NASA cargo resupply missions to the International Space Station possible following a successful test flight.

Sierra Space is also working on a private space station. Currently, it is developing inflatable modular structures that can be linked together in space. These structures are around three stories tall and 27 feet in diameter, with space for four astronauts, an onboard space garden, and science experiments.

Both companies are endeavoring to transform space tourism from fantasy into reality. Along with being able to use a commercial runway, the developers think this is achievable because the glide path back from space will be smoother than a traditional system.

Along with giving passengers the chance to experience space, Radian and Sierra are hoping to leverage their technology to open up global air travel. In the Robb Report article, Humphrey explained that, to reach far-flung destinations, the company’s spaceplane would “travel out of the atmosphere briefly, at near orbital speeds [greater than Mach 10], and then re-enter and ‘fly’ down to a runway.”

Reaching Sydney from New York, for example, would only take an hour if traveling at Mach 13.

Neither Radian nor Sierra Space is publicly traded, but investors who want exposure to the commercial space sector have options. Through IBKR, you can access ARKX — the ARK Space and Defense Innovation ETF — which holds orbital and suborbital aerospace companies, reusable rocket developers, satellite operators, and defense tech firms. Top holdings currently include Rocket Lab, L3Harris, and Kratos Defense. McKinsey projects the space economy could grow from $630 billion in 2023 to $1.8 trillion by 2035.

For investors who want broader, lower-volatility exposure to the sector, ITA (iShares U.S. Aerospace and Defense ETF) is worth a look alongside it. Both are available through IBKR’s platform.

Standard disclaimer: This is not financial advice. I may hold positions in securities mentioned. Always do your own research before investing.

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