Lockheed Martin has completed its acquisition of Terran Orbital, a leading manufacturer of innovative modular spacecraft.
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Press Release, Bethesda, 30 October 2024: Lockheed Martin has completed its previously announced acquisition of Terran Orbital, a leading manufacturer of innovative modular spacecraft serving the global aerospace and defence industries, and its subsidiary, Tyvak International. Lockheed Martin has worked with Terran Orbital on projects including Space Development Agency programs and Lockheed Martin’s technology demonstrations.
“The addition of Terran Orbital’s spirit of entrepreneurship to the scale of Lockheed Martin means there is a great deal of opportunity to keep pushing the boundaries of technology and space solutions together,” said Robert Lightfoot, President, Lockheed Martin Space. “We welcome their ingenuity and dedication to ensuring mission success and we’ve always valued those aspects of our working relationship. Together, we can deliver our combined innovation and services with a greater sense of urgency to support our customers’ commercial, civil and national security needs.”
Terran Orbital offers a unique line-up of customisable spacecraft platforms, which include interchangeable components, and mission services. When these are combined with Lockheed Martin’s mission system integration and payload expertise, the result includes more robust space capabilities. This is in addition to bolstered manufacturing practices, driven by automation and robotics for increased capacity and speed, and advanced testing techniques.
Reporting through Lockheed Martin’s Space business area, the company will be recognised as Terran Orbital, a Lockheed Martin Company. It will remain a merchant supplier to the industry and bring holistic solutions by coalescing satellite design, production, launch planning, mission operations, and in-orbit support to meet the needs of the most demanding military, civil, and commercial customers’ missions.
Terran Orbital, a Lockheed Martin Company, maintains locations in Boca Raton and Melbourne, Florida, Irvine and Santa Maria, California, Atlanta, Georgia, Tysons Corner, Virginia, and Torino, Italy.
The acquisition was first announced August 15, 2024.
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