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Lockheed Martin to buy up to 25 rocket launches from Firefly Aerospace

2024.06.05 13:10

(Reuters) – Lockheed Martin (NYSE:) has entered a purchase agreement with Firefly Aerospace for up to 25 launches on its Alpha rocket by 2029, the U.S. defense contractor said on Wednesday.

Texas-based Firefly makes small and medium launch vehicles for commercial launches to orbit. Its small-launch vehicle, Alpha, will fly Lockheed’s spacecraft and payload into low-Earth orbit from its facilities on west and east coasts, Lockheed said.

The companies did not disclose the financial details of the deal. The lower-cost launch vehicles would help reduce risk for its self-funded technology demonstration missions, Lockheed said.

© Reuters. Lockheed Martin's logo is seen during Japan Aerospace 2016 air show in Tokyo, Japan, October 12, 2016.   REUTERS/Kim Kyung-Hoon/File Photo

Profit at its space division jumped in its latest quarter, benefiting from higher launch volume in United Launch Alliance, its joint venture with planemaker Boeing (NYSE:).

Boeing and Lockheed merged their rocket programs in 2006 and are looking to sell the jointly-owned venture, media reports said.



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