There might not be anything harder than building a private spaceflight company. One company has done so with consistent commercial success -- SpaceX -- with other start-ups such as Blue Origin failing to gain much traction even with close to unlimited funding from their owners. The opportunity in front of these companies is enormous. Analysts expect the space economy to be worth more than $1 trillion within a decade, but few are seemingly up to the task.

However, there is a small-cap stock nipping on the heels of SpaceX: Rocket Lab (NASDAQ: RKLB). Should you buy the spaceflight stock while the share price is less than $5? Let's take a look.

Investors cheered in June when Rocket Lab's Electron system completed its 50th successful launch, reaching the milestone faster than any other rocket system in history. To be fair to competitors, Electron has a very small payload, but that is why the company has been successful despite SpaceX's dominance. It has become the go-to supplier for companies looking to send small payloads into orbit. For example, it just completed a mission for Varda, which is testing pharmaceutical manufacturing in orbit.

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Source Fool.com