Terran Orbital records $170+m in contracts since September 2021

Terran Orbital Corporation, a vertically integrated provider of end-to-end satellite solutions, has announced contracts and awards totalling over $170m since September 30, 2021. This includes multiple agreements and awards from government and commercial customers.

Terran Orbital has also signed a 10-year lease for a 60,000 square-foot commercial facility in Irvine, California.

The new facility will focus on pure assembly and production. The facility will house staff and equipment beginning later this year.

Marc Bell, Co-Founder, Chairman and Chief Executive Officer of Terran Orbital, said: “Terran Orbital is fortunate to enjoy unique relationships with leaders in the defence, civil, and commercial sectors. Our team continues to focus on delivering the highest quality solutions at a compelling price. We are honoured by the trust and partnership of our customers and look forward to delivering the capabilities they need.”

He added: “Terran Orbital continues to expand our status as an industry leader by growing our portfolio of satellite production and assembly facilities. This is another in a long line of developments to maintain our leadership as a top small satellite manufacturer in the country.”

William Beck, Terran Orbital Vice President of Infrastructure, stated: “This latest expansion amplifies our ability to produce satellites at scale. We look forward to helping produce the thousands of satellites expected to launch into orbit over the next 10 years.”

Terran Orbital has previously announced that it entered into a business combination agreement with Tailwind Two Acquisition Corp., a special purpose acquisition company, pursuant to which Terran Orbital will combine with Tailwind Two.

As government contracts and programmes are subject to the availability of Congressional appropriations and authorisations, as well as the federal budget process. Accordingly, Terran Orbital may not predict if and when the anticipated revenue from these government programmes and awards will be recognised.

In September 2021, Terran Orbital announced it planned to build what the company believes will be one of the largest satellite manufacturing complexes in the world in Brevard County, Florida. Once completed, it is expected that the 660,000 square-foot facility will create approximately 2,100 new jobs on Florida’s Space Coast.