BOCA RATON, Fla.--(BUSINESS WIRE)--Oct 26, 2023--
Lockheed Martin has awarded Terran Orbital Corporation (NYSE: LLAP ) (“Terran Orbital” or the “Company”), a global leader in satellite-based solutions primarily serving the aerospace and defense industries, an Engineering Change Proposal (ECP) to host additional payloads. The contract modification adds $7.7M to an existing satellite design and manufacturing program. This addition was awarded following a successful Critical Design Review (CDR) earlier this year. The modification incorporates additional previously anticipated scope into the contract. This modification brings the total value of the contract to just over $52 million.
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Photo Credit: Terran Orbital
Last year, Terran Orbital delivered 10 satellite buses to Lockheed Martin in support of their Tranche 0 Transport Layer contract with SDA. Terran Orbital is currently building 42 buses for Lockheed Martin to help the company fulfill its $700 million contract for the SDA’s Tranche 1 Transport Layer (T1TL), currently scheduled for a late 2024 launch, and, as previously announced this week, Terran Orbital was just awarded 36 buses to help the company fulfill its $816 million contract for the SDA’s Tranche 2 Transport Layer (T2TL), currently scheduled for late 2026.
About Terran Orbital
Terran Orbital is a leading manufacturer of satellite products primarily serving the aerospace and defense industries. Terran Orbital provides end-to-end satellite solutions by combining satellite design, production, launch planning, mission operations, and on-orbit support to meet the needs of the most demanding military, civil, and commercial customers. Learn more at www.terranorbital.com.
View source version on businesswire.com:https://www.businesswire.com/news/home/20231026631594/en/
CONTACT: Media Contact
Public Relations
pr@terranorbital.com
949-508-8484Investor Relations Contact
Jonathan Siegmann
ir@terranorbital.com
949-202-8476
KEYWORD: FLORIDA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: TECHNOLOGY OTHER DEFENSE CONTRACTS VENTURE CAPITAL SATELLITE TELECOMMUNICATIONS PROFESSIONAL SERVICES AEROSPACE MANUFACTURING DEFENSE
SOURCE: Terran Orbital
Copyright Business Wire 2023.
PUB: 10/26/2023 06:30 AM/DISC: 10/26/2023 06:30 AM
http://www.businesswire.com/news/home/20231026631594/en
