By ProcureAM Research

In the rapidly evolving space economy, not every company is launching rockets or manufacturing satellites. The world’s first pure-play space exchange-traded fund, the Procure Space ETF® (NASDAQ: UFO), is designed to provide exposure to all areas of the space sector. One of UFO’s 50+ constituents is Spire Global*, which represents a unique and increasingly important segment of the industry: space-based data and analytics.

Spire is building a global data infrastructure powered by satellites, turning information gathered from orbit into actionable insights for industries on Earth. Spire has positioned itself at the intersection of aerospace, data science, and artificial intelligence, an area many investors and governments see as one of the most scalable opportunities in the space economy.

Business Model: Space-to-Cloud Intelligence

Spire operates a “space-to-cloud” platform, collecting data via its proprietary satellite constellation and delivering insights through subscription-based services. At its core, the company monetizes three major data verticals:

• Maritime & Vessel Tracking: Monitoring global shipping routes and ocean activity 
• Aviation Tracking: Providing real-time aircraft data for safety and logistics 
• Weather & Climate Intelligence: Delivering predictive analytics for industries affected by weather

This model allows Spire to generate recurring revenue by selling data and analytics rather than hardware, making it more comparable to a SaaS (Software as a service) company than a traditional aerospace firm.

Key Markets and Customers

Spire’s data serves a wide range of industries including:

• Government & Defense: Intelligence, surveillance, and national security 
• Aviation & Logistics: Flight tracking and operational efficiency 
• Energy & Agriculture: Weather forecasting and climate risk mitigation 
• Financial Services: Alternative data for trading and risk modeling 

Its ability to deliver real-time, global datasets gives Spire a unique role in decision-making across sectors increasingly reliant on predictive analytics.

The Satellite Advantage

Spire’s competitive edge lies in its large constellation of nanosatellites (CubeSats). The company operates more than 100 satellites in low Earth orbit, enabling continuous global coverage. These satellites collect critical data points such as:

• GPS radio occultation data for weather forecasting 
• Automatic Identification System (AIS) signals for maritime tracking 
• ADS-B signals for aircraft monitoring 

Because Spire designs, builds, and operates its satellites in-house, it maintains tight control over costs and innovation cycles, which is an advantage in a capital-intensive industry.

Strategic Shifts and Growth Initiatives

In recent years, Spire has made notable strategic moves to sharpen its focus:

• Divestiture of its maritime data business to strengthen its balance sheet and refocus on higher-growth segments 
• Capital raise in 2026 to fund expansion in weather analytics, RF geolocation, and cybersecurity 
• Continued investment in AI-driven weather modeling, including collaborations with major technology partners

These moves signal a transition from a broad data provider to a more focused, higher-margin analytics platform.

Why Spire Global Matters in the Space Economy

Spire embodies a broader trend: the monetization of data from space. While launch providers and satellite manufacturers often capture headlines, companies like Spire are quietly building the data layer of the space economy, arguably its most scalable and defensible segment.

By transforming raw satellite signals into actionable intelligence, Spire is helping industries:

• Predict weather disruptions 
• Track global supply chains 
• Enhance national security 
• Improve environmental monitoring 

Final Take

Spire Global is not a traditional space company, it’s a data company powered by space infrastructure. Its long-term success will depend less on launching satellites and more on how effectively it can turn data into indispensable insights.

As the demand for real-time, global intelligence continues to grow, Spire sits in a compelling position at the convergence of space, AI, and big data, a combination that could define the next phase of the space economy.

Within the Procure Space ETF®, Spire represents the information backbone of the space economy, a company turning orbital data into real-world decisions.

As the space sector matures, companies like Spire could define the next phase of growth: not just reaching space but understanding Earth from it.

For more information about the Procure Space ETF®, visit www.ProcureETFs.com.

Important Information:

*As of May 4th, 2026, Spire Global (SPIR) was a 0.62% holding and SpaceX was a 0.00% holding in the Procure Space ETF® (NASDAQ: UFO). 

For a complete list of holdings in UFO, visit: https://procureetfs.com/ufo/. Fund holdings and sector allocations are subject to change at any time and should not be considered a recommendation to buy or sell any security.

Please consider the Fund’s investment objectives, risks, and charges and expenses carefully before you invest. This and other important information is contained in the Fund’s summary prospectus and prospectus, which can be obtained by visiting procureetfs.com. Read carefully before you invest.

Investing involves risk. Principal loss is possible. The Fund is also subject to the following risks: Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the funds. Brokerage commissions will reduce returns.  

Aerospace and defense companies can be significantly affected by government aerospace and defense regulation and spending policies. The exploration of space by private industry and the harvesting of space assets is a business based in future and is witnessing new entrants into the market. Investments in the Fund will be riskier than traditional investments in established industry sectors. The Fund is considered to be concentrated in securities of companies that operate or utilize satellites which are subject to manufacturing delays, launch delays or failures, and operational and environmental risks that could limit their ability to utilize the satellites needed to deliver services to customers. Investing in foreign securities are volatile, harder to price, and less liquid than U.S. securities. Securities of small- and mid-capitalization companies may experience much more price volatility, greater spreads between their bid and ask prices and significantly lower trading volumes than securities issued by large, more established companies. The Fund is not actively managed so it would not take defensive positions in declining markets unless such positions are reflected in the underlying index. Please refer to the summary prospectus for a more detailed explanation of the Funds’ principal risks. It is not possible to invest in an index. 

UFO is distributed by Quasar Distributors LLC.