Terran Orbital (acquired by Lockheed Martin)

Terran Orbital is a manufacturer of satellite products that provides end-to-end satellite solutions by combining satellite design, production, launch planning, mission operations, and on-orbit support. It primarily serves the aerospace and defense industries. 

Terran Orbital offers a range of seven standard satellite buses, ranging from “nano”- to “small”-size satellite classes, built using a modular approach. Launched in September 2023, these modular buses feature interchangeable components and can be configured for diverse applications across civil, commercial, and defense sectors. Its largest enterprise-class spacecraft platform can carry up to 24 satellites per launch at its advanced manufacturing facility. The firm claims by using common components, it achieves efficient building and testing processes. Its flexible architecture and automated production and testing ensure fast delivery times for single and constellation orders, maintaining high quality and minimizing risk.

In August 2024, Lockheed Martin signed an agreement to acquire Terran Orbital in a transaction valued at ~USD 450 million. The acquisition is expected to bring the combined entity more customers and synergies, integrate a broader range of capabilities, and deliver future opportunities for expansion and innovation.