Crescent Space to Deliver Critical Services to a Growing Lunar Economy

Rhea-AI Summary

Crescent Space Services LLC, a new venture by Lockheed Martin (NYSE: LMT), has entered the lunar infrastructure market, focusing on providing essential communications and navigation services for lunar missions. The company's first offering, Parsec®, will utilize a network of lunar satellites to ensure constant connectivity for lunar operations starting in 2025. Crescent aims to capitalize on the growing demand for lunar exploration services, leveraging Lockheed Martin's technical expertise and experience in space missions.

Positive

• Entry into lunar infrastructure sector enhances market position.
• Initial service, Parsec®, aims for continuous communication and navigation for lunar missions.
• Anticipated launch of services in 2025 aligns with upcoming lunar missions.

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• None.

Crescent's Lunar Network Provides Customers with Game-Changing Communications and Navigation Capabilities

DENVER, March 28, 2023 /PRNewswire/ -- Today, Crescent Space Services LLC announced its entry into the lunar infrastructure sector. Crescent Space is a new commercial company launched by Lockheed Martin (NYSE: LMT) that provides infrastructure-as-a-service for lunar missions.

Why Invest in Lunar Infrastructure?

As humankind expands its presence beyond low-Earth orbit, one of the first key challenges is uninterrupted communications between Earth, the Moon, and the growing number of lunar missions. To do this seamlessly – especially on the far side of the Moon – customers need a network that helps them talk over vast distances, like what cell towers enable here on Earth.

With its agile, services-based business model, Crescent directly responds to this need, offering an initial service called Parsec^®: a cislunar communications and navigation network. Parsec uses a constellation of small lunar satellites that will collectively work to provide continuous connection between Earth and the people and assets in lunar orbit, as well as on the surface of the Moon. In addition to communications, Parsec will also provide critical position, timing and navigation services for lunar missions.

Crescent will own and operate the Parsec network upon launch of its first nodes in 2025. Lockheed Martin will produce and deliver the Parsec spacecraft to Crescent, drawing upon its deep expertise developing exploration missions, communications satellites, software and GPS satellites.

A Team of Trailblazers

Crescent is led by CEO Joe Landon, who previously served as vice president of Advanced Programs Development for Lockheed Martin Space. In this role, Landon was responsible for Lockheed Martin's space exploration strategy. As part of this, he led growth, strategy and research and development for the company's Commercial Civil Space line of business. He was also instrumental in developing the concept for Crescent and launching the company. Before his time at Lockheed Martin, Landon was an early entrepreneur and investor in the commercial space sector.  

For Crescent, Landon has brought together a world-class team whose previous expertise supporting civil, commercial and military space missions makes them a perfect fit to lead the charge in providing services for the lunar economy.

"Crescent is well positioned to serve the upcoming wave of lunar science and exploration missions, including NASA's crewed Artemis moon landings," said Landon. "With Lockheed Martin's investment and access to its technical capabilities and deep space experience, Crescent is set up to ensure Parsec will be ready to provide reliable and affordable communications services for our customers."

Looking Ahead to the Future

As a subsidiary of Lockheed Martin, Crescent aims to leverage reliable technical heritage from the company and combine that with the speed and agility of a commercial services platform to deliver an array of essential services for lunar operations.

With momentum gaining around humanity's return to the Moon, this is an immediate area of opportunity for Crescent. In the future, Crescent plans to offer additional services to further enable science, exploration and commerce at the Moon and in deep space.

About Crescent

Crescent is a commercial services company created by Lockheed Martin that provides infrastructure-as-a-service for lunar missions operated by both commercial and government customers. The company leverages Lockheed Martin's deep technical heritage and reliability in space with the speed and agility of a commercial services platform to deliver critical services needed to operate on and around the moon. Visit www.crescentspace.com to learn more.

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SOURCE Lockheed Martin

FAQ

What is Crescent Space Services and its relationship with Lockheed Martin?

Crescent Space Services LLC is a commercial venture launched by Lockheed Martin (NYSE: LMT) focused on lunar infrastructure and services.

What is the Parsec® network offered by Crescent?

Parsec® is a cislunar communications and navigation network that will provide continuous connectivity for lunar missions, launching its first services in 2025.

How does Crescent Space plan to support lunar exploration?

Crescent Space aims to offer essential services, leveraging Lockheed Martin's technical expertise to support an array of lunar operations and infrastructure.

What strategic advantages does Crescent have in the lunar market?

Crescent benefits from Lockheed Martin's extensive experience in space missions and its agile, services-based approach to meet growing demand in lunar exploration.