A slew of space stocks have skyrocketed following the inauguration of President Donald Trump, boosted by his vow to champion American space exploration during his administration. Set against this backdrop,

Space exploration continues to be a key area of research for scientists. In recent decades, it has attracted interest from security experts globally, given the wide use of satellites for peaceful military purposes, such as navigation, intelligence gathering, and military communications.

Pure-play space stocks flew higher on Tuesday, in a rally described as exuberance about the sector after President Donald Trump's inauguration.

“We will pursue our manifest destiny into the stars, launching American astronauts to plant the stars and stripes on planet Mars,” he said. Trump’s comments sparked an enthusiastic response from his close ally, SpaceX Chief Executive Elon Musk, who pumped his arms and gave a thumbs up.

Space stocks skyrocketed on Tuesday, the first trading session following Donald Trump’s inauguration as the 47th President of the United States, as he highlighted his administration’s enthusiasm surrounding space exploration.