Rocket Lab USA Inc ( RKLB ) shares are getting a lift in Thursday’s after-hours session following a report that the Biden administration will ease export restrictions on U.S. commercial space companies.

What To Know: The Biden administration is planning to soften export restrictions on U.S. space companies to ship satellites and spacecraft-related items to allies, according to Reuters.

Two people familiar with the matter reportedly said the moves are aimed at boosting sales for the commercial space industry in the U.S. while protecting national security.

The report indicates that U.S. space companies such as SpaceX stand to benefit. The changes will also positively impact defense contractors with space units such as Lockheed Martin Corp ( LMT ) , Boeing Co ( BA ) and L3Harris Technologies Inc ( LHX ) .

RocketLab USA also stands to benefit — evidenced by the bump in shares after hours — as an end-to-end space company focused on launch services, satellite manufacturing, spacecraft components and on-orbit management solutions.

See Also: Elon Musk Says SpaceX’s Next-Generation Starlink Satellites Will Be ‘So Big That Only Starship Can Launch Them:’ Will Offer 10X Increase In Bandwidth And Reduced Latency

Under the new export rules, certain spacecraft-related items will no longer require licenses to be shipped to Australia, Canada and the U.K. Less sensitive satellite and spacecraft components will no longer require licenses for shipment to more than 40 countries. The least sensitive items will reportedly be stripped of all license requirements.

The report indicates the easing of restrictions is expected to help SpaceX expand its footprint as it works on completing its reusable next-gen rocket, Starship.

RKLB Price Action: Rocket Lab shares were up 0.094% in after-hours, trading at $10.68 at publication Thursday, per Benzinga Pro data.