From Contract to Space in Less Than Ten Weeks: Rocket Lab Launches its 54th Electron Mission

Rhea-AI Summary

Rocket Lab successfully completed its 54th Electron mission, deploying a satellite to Low Earth Orbit for a confidential commercial customer. The mission, named 'Changes in Latitudes, Changes in Attitudes,' launched from New Zealand on November 5th, 2024. Notable achievements include: completing the contract-to-launch process in under ten weeks, marking their 12th launch of 2024 (surpassing 2023's record of 10 launches), and maintaining Electron's position as the world's third most frequently launched rocket and the United States' second most frequently launched rocket annually.

Positive

• Achieved record-breaking 12 launches in 2024, exceeding previous year's record of 10
• Demonstrated rapid contract-to-launch capability in under 10 weeks
• Maintains strong market position as 3rd most frequently launched rocket globally
• Successfully deployed 198 satellites to orbit since first launch

Negative

• None.

Insights

Space Industry Analyst

The rapid turnaround from contract to launch in under ten weeks marks a significant operational achievement for Rocket Lab, demonstrating their growing competitive advantage in the small satellite launch market. Their 12th successful launch this year represents a 20% increase from their 2023 record, showcasing improved operational efficiency and market demand.

The standardized production and responsive launch capabilities position Rocket Lab favorably against competitors like SpaceX in the small satellite segment. Maintaining position as the third most frequently launched rocket globally and second in the U.S. strengthens their market presence. This operational tempo and reliability are particularly attractive to commercial and government customers requiring rapid orbital access.

The successful execution of their accelerated launch model validates their business strategy and infrastructure investments. This efficiency in launch operations could translate to improved profit margins and increased market share in the growing small satellite launch market.

The contract for Rocket Lab’s latest launch was signed less than ten weeks before lift-off, making it one of the fastest contract-to-launch turnarounds in Company history.

LONG BEACH, Calif.--(BUSINESS WIRE)-- Rocket Lab USA, Inc. (Nasdaq: RKLB) (“Rocket Lab” or “the Company”), a global leader in launch services and space systems, today successfully launched its 54^th Electron mission, deploying a single satellite to Low Earth Orbit for a confidential commercial customer.

The ‘Changes in Latitudes, Changes in Attitudes’ mission launched from Rocket Lab Launch Complex 1 in Mahia, New Zealand at 11:54 pm on November 5th, 2024. The mission was Rocket Lab’s 12^th Electron launch this year, continuing to best the Company’s previous record of 10 launches achieved in 2023. Electron remains the world’s third most frequently launched rocket annually by vehicle type, and the United States’ second most frequently launched rocket annually.

Today’s mission was launched less than ten weeks from the mission’s launch contract signing, making it one of the Company’s fastest turnarounds yet from contract to launch. Historically it was typical to take years from contract signing to launch, causing bottlenecks and limited launch opportunities for satellite operators. Rocket Lab’s Electron rocket revolutionized this by making it possible for customers to book and launch in just weeks, enabling them to test technologies faster, begin generating revenue from constellations earlier, or gather urgent data from orbit at near on-demand timelines. This business model is enabled by standardized rapid production of Electron launch vehicles, responsive launch sites, proven and established launch systems, and an experienced team capable of delivering rapid call-up launch year-round.

Rocket Lab founder and CEO, Sir Peter Beck says: “Another successful launch showcasing all the best attributes of the Rocket Lab team and Electron: a streamlined process from contract to orbit, pinpoint deployment accuracy, and a responsive service tailored exactly to the customer’s needs. Now 12 for 12 this year across commercial, civil, and national security missions, I’m proud of the team for delivering launch after launch as we continue to deliver a record year across launch and space systems.”

A replay of today’s launch broadcast can be found at www.rocketlabusa.com/live-stream.

Details of Rocket Lab’s next launch will be announced shortly.

+ About Rocket Lab

Founded in 2006, Rocket Lab is an end-to-end space company with an established track record of mission success. We deliver reliable launch services, satellite manufacture, spacecraft components, and on-orbit management solutions that make it faster, easier, and more affordable to access space. Headquartered in Long Beach, California, Rocket Lab designs and manufactures the Electron small orbital launch vehicle, a family of flight proven spacecraft, and the Company is developing the large Neutron launch vehicle for constellation deployment. Since its first orbital launch in January 2018, Rocket Lab’s Electron launch vehicle has become the second most frequently launched U.S. rocket annually and has delivered 198 satellites to orbit for private and public sector organizations, enabling operations in national security, scientific research, space debris mitigation, Earth observation, climate monitoring, and communications. Rocket Lab’s family of spacecraft have been selected to support NASA missions to the Moon and Mars, as well as the first private commercial mission to Venus. Rocket Lab has three launch pads at two launch sites, including two launch pads at a private orbital launch site located in New Zealand and a third launch pad in Virginia. To learn more, visit www.rocketlabusa.com.

+ Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statements contained in this press release other than statements of historical fact, including, without limitation, statements regarding our launch and space systems operations, launch schedule and window, safe and repeatable access to space, Neutron development, operational expansion and business strategy are forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “potential,” “continue,” “anticipate,” “intend,” “expect,” “strategy,” “future,” “could,” “would,” “project,” “plan,” “target,” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements use these words or expressions. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including but not limited to the factors, risks and uncertainties included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, as such factors may be updated from time to time in our other filings with the Securities and Exchange Commission (the “SEC”), accessible on the SEC’s website at www.sec.gov and the Investor Relations section of our website at www.rocketlabusa.com, which could cause our actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241104997103/en/

+ Rocket Lab Media Contact

Murielle Baker

media@rocketlabusa.com

Source: Rocket Lab USA, Inc.

FAQ

How many satellites has Rocket Lab (RKLB) launched with Electron as of November 2024?

Rocket Lab has delivered 198 satellites to orbit using the Electron launch vehicle.

How many launches has Rocket Lab (RKLB) completed in 2024?

Rocket Lab has completed 12 launches in 2024, surpassing their previous record of 10 launches in 2023.

How quickly can Rocket Lab (RKLB) execute a launch contract?

Rocket Lab demonstrated the ability to execute from contract signing to launch in less than ten weeks, as shown in their 54th Electron mission.

What is Rocket Lab's (RKLB) current ranking in global launch frequency?

Electron is currently the world's third most frequently launched rocket and the United States' second most frequently launched rocket annually.