In broad terms, the toy involved “cosmic combat with a ray gun, revolving station and enemy rockets.”
You could even modify your laser weapon to your liking, making the “ray gun hand-size by separating it from the stock.”
The light beam from the ray gun worked “on a transistorized target at distances over 30 feet,” and you could also “change the target to make it harder and harder to hit.”
Designed for ages 6 and up, this Tomy toy required four “AA” batteries to operate, and was quite a popular item when I was a kid, as I recall.
My best friend who lived next door to me in Glen Ridge owned Shoot Out in Space, and often invited me up to his third-floor playroom to shoot down the enemy rockets. We would spend a while playing the game, and then inevitably take the (soft) rockets and peg each other with them, pretending they were space grenades. Now that was really fun.
I finally got my hands on one of these toys recently (as part of my ongoing effort to recapture my lost youth…) and it’s still a pretty cool game all these years later. I’ve played it with my son, Joel, and — wouldn’t you know — the soft rockets are his favorite part of the game as well. Only he uses them to knock down and “destroy” Gobots, and occasionally, to terrorize our cats…