Firefly Aerospace, a space travel and launch services company, has signed a launch agreement with Lockheed Martin for a technology demonstration mission. Lockheed Martin will use Firefly's Alpha rocket to launch its spacecraft technologies.

The Alpha vehicle, equipped with Firefly's innovative tap-off cycle propulsion technology and carbon composite structures, can lift over 1,000 kg to low-Earth orbit. Alpha’s structure claims to reduce mass and costs while improving strength and reliability.

Analyst QuickTake: Firefly Aerospace has secured launch contracts with multiple entities, including NASA and Exolaunch, to use its Alpha launch vehicle. Apart from its flagship Alpha launch vehicle, the company is also developing Firefly Beta, a larger rocket with a payload capacity of up to 11,000 kg, and expects to offer the lowest cost per kg to orbit of all launch vehicles in the 8,000-kg-and-below category.