BOCA RATON, Fla. - Terran Orbital Corporation (NYSE: LLAP), a company specializing in satellite solutions, announced today its selection by Lockheed Martin (NYSE:LMT) to manufacture 18 satellite buses for the Space Development Agency's Tracking Layer project. This initiative is part of the agency's efforts to enhance missile detection and defense capabilities.
Lockheed Martin's contract with the SDA involves providing 16 space vehicles equipped with wide field-of-view infrared sensors for missile warning and tracking, and two vehicles designed with missile defense infrared sensors capable of generating fire control-quality tracks. These satellites will integrate buses produced by Terran Orbital.
Marc Bell, Co-Founder, Chairman, and CEO of Terran Orbital, expressed pride in the company's role as a trusted provider for Lockheed Martin, highlighting the partnership's importance for the SDA's tracking mission. He emphasized Terran Orbital's readiness to apply its expertise in delivering these advanced space vehicles.
The production of these space vehicles will take place at Terran Orbital's robotic manufacturing facilities in California. The company's involvement in the T2 Tracking Layer underscores its commitment to innovation and its position as a significant contributor to the development of proliferated warfighting constellations.
The T2 Tracking Layer aims to enhance the capability for global, persistent surveillance, offering early detection and tracking of both conventional and advanced missile threats, including hypersonic missile systems. It will also contribute to missile defense by incorporating high-quality sensors into the constellation.
Terran Orbital is recognized as a leading satellite manufacturer serving the aerospace and defense industries, providing comprehensive satellite solutions that encompass design, production, launch, operations, and support. This partnership with Lockheed Martin for the SDA's Tranche 2 Tracking Layer contract reinforces Terran Orbital's role in national defense infrastructure.
The information in this article is based on a press release statement from Terran Orbital.
InvestingPro Insights
Terran Orbital Corporation (NYSE: LLAP) is at the forefront of satellite manufacturing and has recently secured a significant contract with Lockheed Martin for the Space Development Agency's Tracking Layer project. While this partnership highlights Terran Orbital's capabilities and potential for growth, it's important to consider the company's financial health and market performance to understand its prospects fully.
According to the latest real-time data from InvestingPro, Terran Orbital has a market capitalization of $211.05 million, which reflects its standing in the aerospace and defense industry. Despite the optimistic outlook from the recent contract win, the company's P/E ratio stands at -1.16, suggesting that investors are cautious, possibly due to the company's current lack of profitability.
The company's revenue growth over the last twelve months has been impressive at 44.23%, indicating a strong potential for future expansion, especially as it leverages new contracts like the one with Lockheed Martin.
InvestingPro Tips highlight that Terran Orbital's stock price movements have been quite volatile, with a significant price uptick over the last six months, showing a 39.02% return. This volatility is a factor investors should consider. Moreover, analysts predict that the company will be profitable this year, which could be a turning point for Terran Orbital if those predictions hold true.
For a deeper analysis and more InvestingPro Tips on Terran Orbital, which could further inform investment decisions, readers can explore https://www.investing.com/pro/LLAP. There are 13 additional InvestingPro Tips available, which provide a comprehensive look at the company's financial health and market performance. To access these insights, readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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