Rocket Lab stock rose 12.86% at $21.59 on Tuesday after the the space-launch and technology provider landed new hypersonic business in the U.S. and the U.K.

Sending them higher was a Monday evening announcement from the company about two new opportunities for its HASTE launch system. HASTE is a "suborbital hypersonic testbed launch vehicle derived from Rocket Lab's Electron rocket," according to Rocket Lab. The acronym is also short for Hypersonic Accelerator Suborbital Test Electron.

Hypersonic typically means greater than five times the speed of sound or a minimum of about 3,800 miles per hour. That's New York to London in less than an hour.

The U.S. Air Force selected HASTE to participate in a $46 billion contract "designed for the rapid acquisition of innovative technologies, engineering services, and technical solutions."

The U.K. Ministry of Defence selected Rocket Lab for its Hypersonic Technologies & Capability Development Framework, a $1.3 billion program "to rapidly develop advanced hypersonic capabilities."

"The ability to contribute toward the collective security of the United States and the United Kingdom across both of these important programs is a proud moment for the HASTE team," said Rocket Lab CEO Peter Beck in a news release. "Keeping pace with global developments means more affordable tests at a higher rate that expands the boundaries of hypersonic technology -- and that's a capability we're already providing all in one platform with HASTE, at a commercial price and cadence that serves the mission of both nations."

Coming into Tuesday trading, Rocket Lab stock was up 62% since the Nov. 5 presidential election. Investors are optimistic that NASA and others will use more commercial technology from providers such as Rocket Lab.

More contracts mean more business for Rocket Lab. Sales are expected to be about $580 million in 2025, up from $436 million in 2024, according to FactSet. Rocket Lab isn't profitable now, but Wall Street projects positive operating profit and free cash flow in 2026 and positive earnings in 2027.

Rocket Lab launched 14 rockets into space in 2024, and has launched three so far in 2025.