STOCK TITAN

Safran and Terran Orbital Sign a Memorandum of Agreement to Produce Satellite Electric Propulsion Systems in the United States of America

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags

LE BOURGET, France--(BUSINESS WIRE)-- PARIS AIR SHOW-- Safran Electronics & Defense and Terran Orbital (NYSE: LLAP) announced today that they have signed a Memorandum of Agreement to study and validate the prerequisites for production of a new generation of electric propulsion systems for satellites in the United States, based on Safran’s PPSX00 plasma thruster.

A rendering of the PPSX00 plasma thruster, which Safran Spacecraft Propulsion, a subsidiary of Safran Electronics & Defense, debuted September 2022 at the International Astronautical Congress in France. (Photo: Business Wire)

A rendering of the PPSX00 plasma thruster, which Safran Spacecraft Propulsion, a subsidiary of Safran Electronics & Defense, debuted September 2022 at the International Astronautical Congress in France. (Photo: Business Wire)

Safran Electronics & Defense, via Safran Spacecraft Propulsion, and Terran Orbital will undertake an in-depth analysis to determine the technical, industrial and economic prerequisites for a new U.S.-based production line for electric propulsion systems. The location under consideration is a Terran Orbital facility in Irvine, California, which produces microsatellites. In addition to providing the American space industry with a local source of satellite thrusters, contributing to the economy and employment, this new line will match Safran’s production facilities in France, eventually doubling the company’s international production capacity.

Developing effective and sustainable propulsion systems for satellites is a critical challenge worldwide, as increasingly stringent international regulations stipulate greater sustainability and resilience in spacecraft. A higher degree of spacecraft maneuverability is needed to avoid collisions, along with a system to deorbit low Earth orbit (LEO) satellites at the end of their service life. Safran’s PPSX00 plasma thrusters, rated at about one kilowatt of power, will be used to meet the burgeoning mobility requirements of LEO satellites.

Jean-Marie Bétermier, Senior Vice President Space at Safran Electronics & Defense, said, “Our alliance with Terran Orbital will contribute to the emergence of a complementary source of supply for electric propulsion systems to meet the growing needs of the space industry.”

“This deal reflects Safran Electronics & Defense’s faith in the value of Terran Orbital’s industry-leading products and innovative personnel, while adding to our strategic investments to create more scalable, automated, vertically integrated production systems,” said Marc Bell, Terran Orbital's Chief Executive Officer and Chairman. “Terran Orbital looks forward to working with Safran Electronics & Defense to create top-of-the-line propulsion systems that make spacecraft more resilient and maneuverable at faster delivery rates and lower costs for our national security and commercial customers.”

Safran an international high-technology group operating in the aviation (propulsion, equipment and interiors), defense and space markets. Its core purpose is to contribute to a safer, more sustainable world, where air transport is more environmentally friendly, comfortable and accessible. Safran has a global presence, with 83,000 employees and sales of 19.0 billion euros in 2022, and holds, alone or in partnership, world or regional leadership positions in its core markets. Safran is listed on the Euronext Paris stock exchange and is part of the CAC 40 and Euro Stoxx 50 indices.

Safran Electronics & Defense is an international company with 10,000 employees, built on proven expertise in technologies that underpin sovereignty. By combining human and artificial intelligence, the company develops the products and services that empower aerospace and defense players to observe, decide and guide. Safran Electronics & Defense also supports fellow Safran companies by sharing its state-of-the-art electronics skills and expertise.

Safran Spacecraft Propulsion, a subsidiary of Safran Electronics & Defense, is the European leader in plasma propulsion. Safran Spacecraft Propulsion offers a complete range of electric thrusters and propulsion subsystems for more sustainable satellites and spacecraft.

Learn more about Safran at www.safran-group.com and www.safran-group.com/fr/societes/safran-electronics-defense, and follow Safran on Twitter @SAFRAN, @SafranElecDef, LinkedIn at Safran, Safran Defense, Safran Space, Safran Equipment and Safran N&T, on Facebook at GroupeSafran and Instagram at Safran Group.

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 about Terran Orbital at www.terranorbital.com, and follow Terran Orbital on LinkedIn, Twitter, Facebook, Instagram and YouTube.

Safran: Pascal DEBERGÉ: pascal.deberge@safrangroup.com / +33 (0)1 55 60 41 38

Terran Orbital: Dan AXELROD: pr@terranorbital.com / +1 949-656-0037

Source: Terran Orbital

Terran Orbital Corporation

NYSE:LLAP

LLAP Rankings

LLAP Latest News

LLAP Stock Data

51.22M
204.86M
21.32%
36.16%
4.27%
Aerospace & Defense
Guided Missiles & Space Vehicles & Parts
Link
United States of America
BOCA RATON