By Chris Wack
Rocket Lab USA shares were 6% higher, to $19.40, after the company said it has been selected by the U.S. Space Force to compete for the Department of Defense's highest-priority national security missions for its National Security Space Launch Phase 3 Lane 1 program.
The launch services and space systems company said the firm-fixed price, indefinite delivery/indefinite-quantity contract has a five-year ordering period that will run through to June 2029 with a maximum value of $5.6 billion.
Rocket Lab's launch vehicle for the program will be the Neutron, its 13-ton reusable carbon composite medium-lift launch vehicle being developed to meet the demand for high assurance national security missions, and for single and multi-satellite constellation deployment.
The company said the Neutron is designed to deploy payloads up to 13,000 kilograms. Neutron's first launch is scheduled for the second half of the year.
The Department of Defense plans to award a minimum of 30 missions within its contracting period through to 2029, with the potential for an extension through to 2034. As part of the on-ramp to the NSSL program, Rocket Lab receives a $5 million task order to perform a capabilities assessment that demonstrates its tailored approach to mission assurance for launches awarded through the NSSL program.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
March 28, 2025 10:33 ET (14:33 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.