Terran Orbital executives told investors that the company is largely engaged in government work and expects significant revenue from defense and intelligence contracts
WASHINGTON. Terran Orbital, a manufacturer and integrator of small satellites based in Boca Raton, Florida, announced Feb. 17 that it had won a contract with U.S. Army chief contractor Lockheed Martin to manufacture and launch three spacecraft to showcase products.
Lockheed Martin is not only a client of Terran Orbital, but also a longtime investor in the company. Tyvak Nano Satellite Systems, a satellite bus supplier owned by Terran Orbital, is a partner of Lockheed Martin under a construction contract that last won in 2020. 10 satellites for the Pentagon Space Development Agency.
Terran Orbital is one of many companies in the space industry that are open by merging with a stationery company or SPAC (special purpose acquisition company). During a presentation to investors on Feb. 17, executives said they were waiting for a SPAC deal with Tailwind Two Acquisition Corp. announced in Octoberwhich will be completed in the coming weeks.
The company has been entering state markets since space companies that completed SPAC deals over the past year, saw a drop in their value rapidly as a result of extensive sales and concerns about the timing of their profitability.
Terran Orbital executives noted that the company is looking for commercial clients, but is heavily involved in government work, and expects significant revenue from military and intelligence contracts.
“We have real incomes and real backlogs.” said Terran Orbital CEO and co-founder Mark Bell. “Lockheed Martin uses Tyvak satellites for proposals from the United States government,” he said. “We can use the experience of the world’s largest government with the entrepreneurial spirit of a small company.”
Lockheed Martin’s latest order for three satellites is one of several that Terran Orbit has won over the past six months, worth more than $ 170 million, according to the company. This includes many awards from government and commercial clients.
In his speech to investors, Bell said that small satellites are the “future of space” and Terran Orbital is one of the few independent manufacturers of small satellites. “Our competitors belong to conglomerates. You can’t invest in them directly, ”he said, referring to small satellite vendors such as Millennium Space Systems and Blue Canyon Technologies, which in recent years have been acquired by Boeing and Raytheon respectively.
The new constellation SAR
Terran Orbital has been reorganized into two business segments: satellite solutions and Earth observation solutions.
Satellite Solutions absorbs Tyvak. Bell said the company is gradually abandoning the name Tyvak because Terran Orbital is moving to larger satellites – 150 to 500 pounds – and will no longer produce nanosatellites.
To increase its presence in the military market, Terran Orbital has hired a number of retired officers. The president of Satellite Solutions is Christian “Boris” Becker, retired Rear Admiral of the US Navy, who commanded the Navy Command in space warfare.
Earth Observation Solutions is the company that will oversee PredaSAR, a company created by Terran Orbital in 2019 to create 48 satellite constellationsn radar spacecraft. It is planned that the first satellite will be launched later this year.
Terran Orbital manufactures PredaSAR satellites in Irvine, California. A new plant is also opening near Cape Canaveral, Florida.
The U.S. military and intelligence community will be PredaSAR’s main customers, Bell said.
Roger Teague, a retired major general who led strategic planning at the U.S. Air Force Space Command; and Dave Mann, a retired major general who has run U.S. military missile defense programs against space sands, told investors they see great demand in the U.S. military for synthetic aperture radar images.
Mann said the military is the largest user of SAR images. PredaSAR in December won a A $ 2 million contract from the U.S. Space Forces to demonstrate compatibility between their satellites and the Blackjack Constellation of Advanced Defense Research Projects. And it is so one in five SAR imagery providers selected last month by the National Intelligence Service to contract research.
Teague said he expects these research contracts to lead to long-term procurement agreements. “The government likes to use a ‘crawl, walk, run’ approach to building relationships with commercial suppliers.”
https://spacenews.com/terran-orbital-touts-military-and-defense-contracts-ahead-of-going-public/ Terran Orbital advertises military and defense contracts before going public