Terran Orbital (NYSE:LLAP) has won a subcontract to support Lockheed Martin Corp (NYSE:LMT)’s recent award from the Space Development Agency (SDA).
This will see Terran provide 18 satellite buses to be incorporated with Lockheed’s missile warning systems as part of the SDA’s T2 Tracking Layer contract.
“We’re proud to once again be selected as the trusted space vehicle provider for Lockheed Martin, especially for the SDA’s critical tracking mission,” chief executive Marc Bell said.
“This continued partnership signifies the confidence Lockheed Martin places in Terran Orbital (NYSE:LLAP)'s capabilities.”
Some 16 of the space vehicles will carry Lockheed’s warning systems, while two will have missile defence infrared sensors able to generate more detailed fire control-quality tracks.
These will accelerate capabilities to detect and track advanced missile threats, including from hypersonic warheads.
Terran will produce vehicles for the subcontract in California at its advanced robotic space vehicle manufacturing facilities.
“This award showcases Terran Orbital's commitment to innovation and positions the company as a key player in building the next generation of proliferated warfighting constellations,” the company added.
Terran also posted results on Wednesday, reporting a contraction in net losses over the first quarter from US$54.4 million to US$53.2 million.
Adjusted gross loss sat at US$3.4 million for the quarter, against US$2.3 million a year earlier as revenue fell 3% to $27.2 million. Cash was US$43.7 million as of March.
Sidus added delays relating to a subcontractor would see revenue from one of its programs realised in the third quarter, with plans to bring manufacturing in-house set to prevent such issues in the future.