A definitive contract to acquire Terran Orbital, a leading provider of satellite-based solutions mainly serving the aerospace and defence industries, was signed by Lockheed Martin. In addition to high-performing modular space vehicle designs, Terran Orbital offers robotic production capabilities and high throughput. When coupled with Lockheed Martin’s track record of innovation and execution, this deal will open up even more possibilities and value for clients. Lockheed Martin employs Terran Orbital’s satellites in a number of its self-funded technology demonstrations as well as its work with the Space Development Agency’s Transport and Tracking Layer programs.
According to Lockheed Martin Space President Robert Lightfoot, “we’ve worked with Terran Orbital on a variety of successful missions for more than seven years. Their aptitude, skills, and business momentum are compatible with Lockheed Martin Space’s strategic plans – and we’re looking forward to welcoming them to our team. Our customers require advanced technology and even faster product development, and that’s what we can achieve together.”
The deal could open doors for future development since Lockheed Martin will keep spending money on personnel, technology, and capacity to meet the demands of its customers.
“This transaction combines our strengths and expertise,” Terran Orbital chairman, CEO, and co-founder Marc Bell stated. We have great hopes for the future as this shift will present new chances for development and innovation. Our goal to offer affordable, high-value solutions to our expanding clientele will only be accelerated by having access to Lockheed Martin’s outstanding engineers and top-notch facilities.
