COLORADO SPRINGS, Colo. - Rocket Lab USA, Inc. (NASDAQ:RKLB), a leading space company, has been awarded a $32 million contract by the U.S. Space Force Space Systems Command (SSC) to deliver the VICTUS HAZE Tactically Responsive Space (TacRS) mission. The mission involves the design, manufacture, launch, and operation of a spacecraft capable of rendezvous proximity operations (RPO).
The VICTUS HAZE mission, part of the Space Safari Program Office, is set to demonstrate rapid response capabilities to potential on-orbit threats and enhance space domain awareness (SDA). Rocket Lab, in collaboration with True Anomaly, will demonstrate the ability to build RPO-capable space vehicles and command and control centers, with a targeted launch date in 2025.
Upon completion of the spacecraft's construction, Rocket Lab will enter a Hot Standby Phase, ready to launch the spacecraft with 24 hours' notice into a target orbit. The launch will be conducted using Rocket Lab's Electron vehicle from either Launch Complex 1 in Mahia, New Zealand, or Launch Complex 2 in Wallops, Virginia. The Pioneer class spacecraft bus will be configured to meet the mission's unique requirements.
The spacecraft will participate in various dynamic space operations once in orbit, working alongside True Anomaly’s Jackal autonomous orbital vehicle to demonstrate SDA characterization capabilities. These operations are essential for improving TacRS processes and timelines, validating techniques for SDA, and on-orbit characterization.
Rocket Lab's CEO, Peter Beck, expressed the company's honor in being selected to partner in delivering the VICTUS HAZE mission, highlighting Rocket Lab’s proven track record in providing advanced mission solutions on accelerated timelines. He emphasized the unique advantage of having a single team to design, build, launch, and operate a spacecraft, providing speed and value to national security needs.
This mission adds to Rocket Lab's growing portfolio of U.S. Space Force programs, which includes previous successful launches and contracts for satellite design and manufacture.
Rocket Lab, founded in 2006 and headquartered in Long Beach, California, has become a prominent player in space services, delivering satellites for various purposes, including national security and scientific research.
The information for this article is based on a press release statement.
InvestingPro Insights
In light of Rocket Lab USA's (NASDAQ:RKLB) recent $32 million contract with the U.S. Space Force, investors may be looking at the company's financial health and market performance to gauge its future prospects. According to InvestingPro data, Rocket Lab holds a market capitalization of approximately $1.83 billion USD. Despite the company's involvement in significant space contracts, analysts are not expecting Rocket Lab to be profitable this year, as reflected in its negative P/E ratio of -9.84. However, the company is trading near its 52-week low, which might appeal to investors seeking entry points in aerospace and defense stocks.
InvestingPro Tips for Rocket Lab suggest that the company holds more cash than debt on its balance sheet, which could provide financial flexibility in pursuing projects like the VICTUS HAZE mission. Additionally, analysts anticipate sales growth in the current year, which could be a positive sign for the company's revenue trajectory. It's worth noting that Rocket Lab's liquid assets exceed short-term obligations, indicating a stable short-term financial position. For those interested in deeper analysis, InvestingPro offers additional insights, with a total of 9 InvestingPro Tips available for Rocket Lab at https://www.investing.com/pro/RKLB. To access these tips and more, use the coupon code PRONEWS24 for an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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