tl;dr
Rocket Lab, a US aerospace manufacturer, has secured a large government contract worth $515 million to design, produce, deliver, and operate 18 space vehicles. This significant development caused Rocket Lab shares to surge by 17.3% in premarket trading. The company will begin work on the project imm...
Rocket Lab Contracts with US Government for 18 Space Vehicles
Rocket Lab, a US aerospace manufacturer, has secured a large government contract worth $515 million to design, produce, deliver, and operate 18 space vehicles. This significant development caused Rocket Lab shares to surge by 17.3% in premarket trading. The company will begin work on the project immediately and aims to deliver the space vehicles to the government customer in 2027. Additionally, Rocket Lab is perceived as a rival to SpaceX, and it is still too early to determine if it could challenge SpaceX's dominance in the coming years.
Rocket Lab Wins Government Contract for 18 Space Vehicles
Rocket Lab, a US aerospace manufacturer and launch service provider, announced that it has won a contract with a US government customer to design, produce, deliver, and operate 18 space vehicles. The deal is worth $515 million, including a $480 million base plus $26 million in additional incentives and options. The company will begin its work on the project immediately. The delivery of the space vehicles to the government customer for launch is scheduled for 2027, operation of the satellites through 2030, and an option to operate them through 2033.
Rocket Lab Stock Soars in Premarket
Shares of Rocket Lab popped over 17% in premarket trading Friday following the announcement of a new government contract. The startup’s stock is up around 14.5% since the start of a volatile year for the company. RKLB took a significant beating in early September after its rocket launch in New Zealand failed three minutes after the take-off. The stock has been down around 32% since then; however, the recent positive developments have reignited investor interest in the company.
Disclaimer:
This is not financial advice. Please do your own research before investing in any asset.