"Hawk" Hawkens (Vince Edwards) – a former Space Service Colonel turned pirate – leads his crew on a mission to steal a freighter owned by an interstellar corporation simply referred to as "The Company".

First, however, Hawk's crew stop to rest at a space station owned by an alien crime lord, Zariatin (Ray Stewart).

On Procyon III, Peter's father meets with The Company's security director who decides to locate the boy with an advanced robot ship.

Back at Zariatin's station, a pair of bounty hunters spot Peter and realize he is a "Company kid" worth a hefty ransom.

When Peter wanders off, Flightplan (Thom Christopher), a psychic alien member of Hawk's crew, senses the boy is in danger.

Zeriatin demands that Hawk steal four Company fuel ships from a depot on Regulus V, but to guarantee performance, the boy must remain at the station.

He orders his crew member Amanda (Patsy Pease) to take Peter home in one of ships once the job is accomplished.

As Amanda travels to take Peter home, her ship is ambushed by Zeriatin's starfighters and crashes on a nearby planet.

He set up a new production company, Millennium — the title of a 1981 retrospective of Corman's work at the National Film Theatre of London.

The job of directing when to Howard R. Cohen who had written several films for Corman and recently turned director with Saturday the 14th.The movie was based on Treasure Island.

[5] The sets used for Space Raiders were repurposed and modified from Corman's previous production of Battle Beyond the Stars and Android.

"[3] The Boston Globe called it "a sweet little Star Wars rip off... on cosily intimate terms with its genre.

The Special Features include the film's theatrical trailer and interviews with Roger Corman, star David Mendenhall, and postproduction supervisor Clark Henderson.