Redwire (RDW) and other space and satellite-related stocks surged in afternoon trading on Tuesday as investors' positive outlook on the sector was intensified after Elon Musk's SpaceX filed for an initial public offering last week, Bloomberg reported Tuesday.

Redwire shares jumped 27%, AST SpaceMobile (ASTS) stock was up 19%, Firefly Aerospace (FLY) shares rose 18%, and MDA Space (MDA) stock was up 5.9%.

Analysts and investors expect the global space economy to continue to grow, with firms well-positioned in the space industry set to benefit, according to the report.

SpaceX's IPO could potentially occur as early as next month, and it is targeting to raise as much as $75 billion, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 22.36, Change: +4.87, Percent Change: +27.82