Rocket Lab Signs Multi-Launch Contract with iQPS for Four Electron Missions

Rhea-AI Summary

Rocket Lab (NASDAQ: RKLB) has secured a multi-launch contract with Japanese Earth imaging company iQPS, encompassing four Electron missions. The agreement, signed in July 2024, includes three dedicated launches in 2025 and one in 2026 from Launch Complex 1 in New Zealand.

Each mission will deploy a single satellite as part of iQPS' planned 36-satellite synthetic aperture radar (SAR) constellation, capable of capturing high-resolution images (less than one meter) through clouds and at night. This contract follows Rocket Lab's successful deployment of iQPS' QPS-SAR-5 satellite in December 2023.

All iQPS satellites will utilize Rocket Lab's Motorized Lightband separation system. The company has established itself as a leading launch provider for Japanese and South Korean space users, having conducted missions for various regional operators including KAIST, Astroscale-Japan, and Synspective.

Positive

• Secured multi-launch contract for four dedicated missions
• Expanding presence in Asian market as leading launch provider
• Recurring revenue from Motorized Lightband separation system sales
• Building on existing successful relationship with iQPS

Negative

• None.

Insights

Space Industry Analyst

The multi-launch agreement with iQPS marks a strategic expansion of Rocket Lab's presence in the lucrative Asian space market and demonstrates the company's growing market share in the small satellite launch sector. The contract's structure - three launches in 2025 and one in 2026 - provides predictable revenue streams and operational visibility.

The deal's significance extends beyond mere launch services. By incorporating Rocket Lab's Motorized Lightband separation systems, the company is effectively cross-selling high-margin space systems, showcasing their vertical integration strategy. This approach typically yields higher margins compared to launch services alone.

The contract reinforces Rocket Lab's competitive advantage in rapid launch capabilities, highlighted by their previous four-month turnaround for iQPS. This agility is particularly valuable in the SAR satellite market, which is projected to grow at a CAGR of 11.2% through 2030, driven by increasing demand for all-weather Earth observation capabilities.

The deal's timing is strategic, as iQPS aims to deploy a 36-satellite constellation. By securing multiple launches early in the constellation's deployment phase, Rocket Lab positions itself favorably for additional launches as the constellation expands. The company's growing portfolio of Asian clients, including Synspective (16 planned missions) and successful launches for KAIST and Astroscale-Japan, establishes them as the dominant small satellite launch provider in the region.

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 announced it has signed a multi-launch deal with Institute for Q-shu Pioneers of Space, Inc. (iQPS), a Japan-based Earth imaging company.

The multi-launch contract, signed in July 2024, includes three dedicated missions for launch in 2025 from Rocket Lab Launch Complex 1 in New Zealand, with a fourth launch scheduled for 2026. Each mission will carry a single satellite to form part of iQPS’ planned constellation of 36 synthetic aperture radar (SAR) satellites that are capable of collecting images through cloud and at night with a high resolution of less than a meter.

This multi-launch contract follows Rocket Lab’s deployment of iQPS’ second commercial Synthetic Aperture Radar (SAR) satellite to space, QPS-SAR-5, during an Electron launch in December 2023. The mission was an expedited launch for iQPS that took place within four months of the launch contract’s announcement, after their original launch provider could not meet iQPS’ mission requirements. In addition to launching on Electron, all iQPS satellites will use a Rocket Lab Motorized Lightband as its separation system for deployment to space.

Rocket Lab founder and CEO, Sir Peter Beck, says: “A constellation’s success relies on spacecraft being deployed to precise orbits on tailored timelines to maximize the data collection or service provision the customer needs for their end users. This is the unique and reliable service that dedicated launch on Electron delivers. It’s a privilege to be entrusted with the next batch of iQPS satellites and we look forward to helping them build out the next stage of their constellation.”

iQPS CEO Dr. Shunsuke Onishi, says: “We are excited to announce our collaboration with Rocket Lab for four upcoming missions. Building on the successful launch of QPS-SAR-5 'TSUKUYOMI-I' in December 2023, this partnership marks another significant milestone in our project. We are deeply grateful to everyone involved in this project - our dedicated team and Rocket Lab - for their commitment and hard work to this contract. As we accelerate the manufacturing and launch of QPS-SAR satellites to build a constellation, we are confident that Rocket Lab is the trusted partner for this purpose and will make our plans even more solid.”

Rocket Lab has emerged as a leading launch provider for Japanese and South Korean space users, having launched Electron missions for Earth-observation constellation operators in the region and technology demonstrations. These missions include the previously-launched iQPS mission in December 2023; a mission for the Korea Advanced Institute of Science and Technology (KAIST) in April 2024; a launch for Astroscale-Japan in February 2024 that successfully deployed a technology demonstrator for the first phase of Astroscale-Japan’s orbital debris removal program; and six out of 16 missions on Electron for Japan-based Synspective, for whom Rocket Lab is their sole launch provider to deploy their constellation.

Rocket Lab Images and Videos: www.flickr.com/photos/rocketlab/

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 more than 200 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 Photon spacecraft platform has 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/20250204795112/en/

Media contact

Murielle Baker

media@rocketlabusa.com

Source: Rocket Lab USA, Inc.

FAQ

How many launches did Rocket Lab (RKLB) secure in the new iQPS contract?

Rocket Lab secured four launches with iQPS, with three scheduled for 2025 and one for 2026, all launching from Complex 1 in New Zealand.

What is the purpose of the iQPS satellite constellation that RKLB will launch?

The iQPS constellation will consist of 36 synthetic aperture radar (SAR) satellites capable of collecting high-resolution images (less than one meter) through clouds and at night.

When did RKLB last launch an iQPS satellite?

Rocket Lab previously launched iQPS' QPS-SAR-5 satellite in December 2023.

What additional hardware is RKLB providing for the iQPS missions?

Rocket Lab will provide their Motorized Lightband separation system for all iQPS satellites in the constellation.

Which Asian space companies has RKLB launched missions for?

Rocket Lab has launched missions for iQPS, KAIST, Astroscale-Japan, and Synspective, serving as the sole launch provider for Synspective's constellation.