Space exploration used to be dominated by governments, but private companies have taken the reins in recent years. Space companies present a massive opportunity for investors -- according to a Morgan Stanley study, the sector could be worth $1 trillion by 2040.

However, buying space stocks isn't without risk. These companies are attempting to push the limits of technology while at the same time attempting to figure out how to make their businesses profitable. And amid 2022's volatile market conditions, young companies that have yet to profit have taken the biggest share price hits -- among them, many space industry stocks.

If you're able to handle the risks, though, there are opportunities in the sector that could eventually reward you handsomely. Three intriguing investments you can buy the dip on today are Virgin Galactic (NYSE: SPCE), Rocket Lab USA (NASDAQ: RKLB), and ARK Space Exploration & Innovation ETF (NYSEMKT: ARKX).

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Source Fool.com