Terran Orbital Corporation (NYSE:LLAP) revealed it has been added to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2023 which highlights businesses at the forefront of their industries.
“At Terran Orbital we are committed to propelling the aerospace and defense industry forward,” said Terran Orbital co-founder, chairman, and chief executive officer Marc Bell in a statement.
“Our contract wins throughout the years and our consistent delivery prove why Terran Orbital continues to be a satellite manufacturer of choice for governments and companies worldwide. We are honored to be named to Fast Company’s Annual List of the World’s Most Innovative Companies. Thank you to each and every Terran who continues to make Terran Orbital one of the most innovative companies in the world,” he added.
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Terran Orbital is a mass producer of satellites for leading operators and major industry participants. In the last two years, Terran Orbital began trading on the New York Stock Exchange and expanded upon its CubeSat roots to produce satellites of varying size. Terran Orbital recently won a $2.4 billion contract to design, build, and deploy 288 low-earth orbit satellites for Rivada Space Networks. As part of the contract, Terran Orbital will also develop 12 “spare” satellites to produce a total of 300 spacecraft.
In October 2022, Terran Orbital received a $100 million investment from Lockheed Martin (NYSE:LMT). In connection with the investment, Terran Orbital and Lockheed Martin also entered into a new Strategic Cooperation Agreement.
Fast Company’s editors and writers sought out the companies making the biggest strides around the globe. They also judged nominations received through their application process.
The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year.
“What a strange and thrilling year it has been to honor this year’s Most Innovative Companies. This year’s list compiles some of the most cutting-edge groundbreakers who are changing our world every single day, from legacy organizations like McDonald’s to upstarts like MrBeast and institutions such as NASA. Everyone on this list does something completely, uniquely different, yet, they all have one thing in common: innovation,” said Fast Company editor-in-chief Brendan Vaughan.
Fast Company will host its third annual Most Innovative Companies Summit on April 19 and 20 to celebrate the Most Innovative Companies in business, and provide an inside look at cutting-edge business trends and what it takes to innovate in 2023.
Contact the author at jon.hopkins@proactiveinvestors.com