Rocket Lab Signs Second Multi-Launch Deal, Secures Eight Electron Missions with iQPS

Rhea-AI Summary

Rocket Lab (NASDAQ: RKLB) has secured one of its largest Electron launch agreements to date with Japanese Earth imaging company iQPS. The new deal includes eight dedicated Electron launches, with six missions scheduled for 2025 and two for 2026.

This agreement follows an earlier multi-launch contract with iQPS in 2024 and builds upon their successful December 2023 launch of the QPS-SAR-5 satellite. The contract is Rocket Lab's second-largest Electron launch agreement, following a ten-launch deal with Synspective.

The launches will support iQPS' planned constellation of 36 synthetic aperture radar (SAR) satellites, designed for near real-time Earth observation in any weather conditions. As the sole customer for each launch, iQPS gains greater control over launch schedules, orbits, and mission parameters compared to rideshare options. The next Electron mission for iQPS is scheduled for March 2025.

Positive

• Secured 8 new dedicated launches, demonstrating strong customer retention
• Builds upon existing relationship with iQPS following successful December 2023 launch
• Strengthens position in the Japanese market with second major constellation customer
• Contract execution begins soon (March 2025), providing near-term revenue visibility

Negative

• None.

Insights

Financial Analyst

Rocket Lab's new eight-launch agreement with iQPS represents a significant backlog enhancement for the company in the competitive small satellite launch market. While financial terms weren't disclosed, this deal likely represents substantial secured revenue - with Electron launches typically priced between $7-7.5 million each, this eight-launch package could represent approximately $56-60 million in contracted revenue across 2025-2026.

This agreement demonstrates two critical business strengths for Rocket Lab: customer retention (following their successful December 2023 launch for iQPS) and constellation deployment specialization. The company is effectively positioning Electron as the premium solution for constellation operators requiring precise orbital insertions - a strategy that differentiates them from lower-cost rideshare options offered by SpaceX and others.

For investors, this contract provides enhanced revenue visibility with six launches scheduled for 2025 and two for 2026, supporting more predictable manufacturing and operational planning. The deal also validates Rocket Lab's strategic focus on the growing Earth observation market, particularly SAR technology which offers all-weather, day-night imaging capabilities that are increasingly valuable for commercial and government applications.

The Japanese space market represents a particularly valuable customer base for Rocket Lab, with this iQPS deal following their ten-launch agreement with Synspective. This regional strength suggests Rocket Lab is successfully establishing itself as the preferred dedicated launch provider for Japan's expanding commercial space sector.

Space Industry Analyst

This eight-launch agreement with iQPS solidifies Rocket Lab's dominant position in the dedicated small satellite launch sector, particularly for constellation deployments requiring precise orbital insertions. With both iQPS and Synspective as anchor Japanese customers, Rocket Lab has effectively captured a significant portion of Asia's growing Earth observation launch market - a strategic advantage as the company works to increase its launch cadence.

The deal highlights the technical superiority of dedicated launches for SAR constellation deployment. Unlike optical satellites that can function in similar orbits through rideshares, SAR constellations require precisely phased orbital planes to achieve optimal coverage and revisit rates. Electron's ability to deliver satellites to exact orbital parameters creates measurable operational advantages for iQPS's business model that justify the premium over rideshare alternatives.

This contract also reveals the accelerating commercialization of SAR technology. Traditional optical Earth observation faces limitations in cloudy regions like Southeast Asia and during nighttime operations. SAR's all-weather, day-night imaging capabilities are driving rapid market expansion, particularly for maritime monitoring, disaster response, and infrastructure surveillance applications where continuous observation is essential.

For Rocket Lab, executing six iQPS launches in 2025 alone will require maintaining a production and launch cadence of at least one Electron every two months just for this customer. This commitment suggests confidence in their manufacturing capabilities and launch operations, which have steadily improved since their early days. The company's ability to secure these long-term agreements provides important stability as they simultaneously develop their larger Neutron vehicle.

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 one of its largest Electron launch agreements to date in a second multi-launch deal with Institute for Q-shu Pioneers of Space, Inc. (iQPS), a Japan-based Earth imaging company.

This newly-signed deal follows an earlier multi-launch contract signed with iQPS in 2024 and brings the total number of booked dedicated Electron launches for iQPS to eight. Across both bulk orders, six missions are scheduled for launch in 2025 and two in 2026. These follow on from Rocket Lab’s first launch for iQPS in December 2023, which successfully deployed the QPS-SAR-5 satellite “TSUKUYOMI-I” to orbit. The new deal is one of the largest Electron launch agreements to date, second only to Rocket Lab’s ten launch deal with another Japanese constellation operator, Synspective, signed last year.

Each Electron launch supports the build out of iQPS’ planned constellation of 36 synthetic aperture radar (SAR) satellites capable of imaging the Earth, day and night and through any weather, to provide near real-time observation data for almost any location in the world. By launching as the sole customer on each Electron mission, iQPS has greater control over launch schedule, orbit, and other mission parameters compared with rideshare launch options, enabling iQPS to maximize the full capacity of iQPS’ constellation through tailored and precise orbits.

Rocket Lab founder and CEO, Sir Peter Beck, says: “Precise constellation build out on a tailored timeline is Electron’s strength. We know precise orbital positioning is critical to every Earth imaging mission, making it highly sought after by constellation operators. This demand is reflected in the many multi-launch contracts that we continue to sign with return constellation operators like iQPS. We are honored to be partnering with iQPS once again to deliver this capability.”

iQPS CEO, Dr. Shunsuke Onishi, says: “We are delighted and grateful to announce an additional launch contract for four more satellite on Electron, following our previous announcement. Electron’s high launch frequency and reliability make it an ideal choice for our mission, and securing this opportunity at such an early stage is truly exciting. This contract brings us one step closer to building our satellite constellation over the next two years, and we remain fully committed to making this vision a reality.”

The next Electron mission for iQPS is scheduled to launch as soon as March 2025. Full details about the launch will be made available closer to launch day.

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, 2024, 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/20250227515074/en/

Media contact

Murielle Baker

media@rocketlabusa.com

Source: Rocket Lab USA, Inc.

FAQ

How many Electron launches did Rocket Lab secure with iQPS in their latest deal?

Rocket Lab secured eight dedicated Electron launches with iQPS, with six missions scheduled for 2025 and two for 2026.

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

iQPS is building a 36-satellite constellation using synthetic aperture radar (SAR) technology for near real-time Earth observation in any weather conditions.

When is the next RKLB Electron launch scheduled for iQPS?

The next Electron mission for iQPS is scheduled to launch in March 2025.

How does this contract compare to other RKLB launch agreements?

This is Rocket Lab's second-largest Electron launch agreement, following only their ten-launch deal with Synspective.