Stock Markets June 5, 2026 08:34 AM

William Blair: Blue Origin’s Path Back to Flight Seen as Tailwind for AST SpaceMobile and Karman

Analysts say restoration of New Glenn launch cadence supports ASTS’ near-term deployment plans and provides modest platform revenue for KRMN

By Jordan Park ASTS KRMN

William Blair says Blue Origin’s anticipated resumption of launches this year offers upside to AST SpaceMobile and Karman after the New Glenn launchpad explosion. Company executives and analysts outlined expectations at William Blair’s 46th Annual Growth Stock Conference, where both AST SpaceMobile and Karman reiterated operational targets and revenue visibility despite the mishap.

William Blair: Blue Origin’s Path Back to Flight Seen as Tailwind for AST SpaceMobile and Karman
ASTS KRMN

Key Points

  • Blue Origin’s planned return to launches is viewed by William Blair as beneficial to AST SpaceMobile and Karman after the New Glenn launchpad explosion - sectors impacted: aerospace suppliers and satellite communications.
  • AST SpaceMobile continues to target a beta direct-to-device launch later this year and commercial service in H1 2027, and announced authorization for 10x10 spectrum usage in Brazil - sectors impacted: satellite telecom and wireless spectrum markets.
  • Karman reported that New Glenn comprises approximately 5% of its platform business. The company says it has over 90% visibility to hit the midpoint of its full-year revenue guidance and is targeting 25% organic growth - sector impacted: aerospace manufacturing and defense supply chains.

William Blair highlighted that Blue Origin’s expected return to launch operations this year should provide benefits to AST SpaceMobile and to Karman, following last week’s explosion on the New Glenn launchpad. Jeff Bezos posted on X yesterday that there is a solid path forward for the company to resume launches in 2026, a development William Blair said supports suppliers and customers tied to the New Glenn program.

AST SpaceMobile (NASDAQ:ASTS) relies on New Glenn as its primary launch provider. At William Blair’s 46th Annual Growth Stock Conference this week the company reaffirmed its timeline, stating it still expects to put its beta direct-to-device service into orbit later this year, and to commence commercial service in the first half of 2027. Alongside the timing update, AST announced it has been authorized for 10x10 spectrum usage in Brazil.

Karman (NYSE:KRMN) supplies multiple proprietary components to Blue Origin’s New Glenn launch system. Its product scope for the vehicle includes aerodynamic interstage assemblies, large metal-formed structural assemblies, and panel protection systems. William Blair’s estimates place New Glenn as a roughly 5% platform for Karman’s business.

Speaking at the same Growth Stock Conference, Karman CEO Jon Rambeau said the company’s space segment growth is expected to remain unaffected by the Blue Origin incident. Rambeau said the business currently has greater than 90% visibility to achieve the midpoint of its full-year revenue guidance and reiterated a target for 25% organic growth.

Blue Origin CEO David Limp also expressed optimism earlier in the week about the company’s launch schedule following the launchpad explosion, comments that align with the view that operations can be restored and that supplier and customer plans remain broadly intact.


Taken together, the remarks from executives and William Blair’s framing point to a set of near-term outcomes for AST SpaceMobile and Karman tied to Blue Origin’s recovery timeline. AST’s dependency on New Glenn for its initial deployments, and Karman’s supplier relationship with a modest revenue share tied to the platform, mean both firms have a direct economic link to New Glenn’s return to service.

Both companies presented their positions at the William Blair conference, using the forum to confirm guidance and operational milestones while noting that visibility remains sufficient to support their near-term plans despite the recent mishap.

Risks

  • The New Glenn launchpad explosion has introduced uncertainty around launch timing; AST SpaceMobile’s near-term deployment and Karman’s exposure to the platform depend on Blue Origin’s ability to resume launches - sectors affected: aerospace and satellite services.
  • If Blue Origin’s recovery timeline slips or encounters additional setbacks, AST SpaceMobile’s planned beta launch later this year and Karman’s platform-related revenue could be delayed or disrupted - sectors affected: satellite communications and aerospace manufacturing.

More from Stock Markets

Broadcom Forecast Miss Sends iShares Semiconductor ETF Tumbling Jun 5, 2026 Booking Shares Rise as Priceline Debuts Claude-Powered Map-Based Assistant Jun 5, 2026 JPMorgan Upgrade Sends Chipotle Shares Higher as Valuation Reset Attracts Buyers Jun 5, 2026 Turkey to Consolidate State Banks' Participation Units, Plans Emlak Katilim IPO Jun 5, 2026 Berenberg Lowers Rating on CrowdStrike to Hold Citing Rich Valuation Despite Strong Results Jun 5, 2026