India, July 13 -- The company has quickly transformed from being a specialized launcher of payloads into a more comprehensive space infrastructure firm. In light of the proposed $8 billion acquisition of Iridium Communications by Rocket Lab, this may well be one of the most significant deals in the commercial space industry. Instead of depending on launching payloads alone, Rocket Lab has diversified into satellite communications and service fees.

This acquisition follows a wider pattern, whereby space firms seek to have full control over the entire value chain, including manufacture, launching and operations of satellites. In essence, for investors, the main question is whether Rocket Lab is becoming the next big space tech firm.

Rocke...