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Terran Orbital Awarded $7.7 Million Lockheed Martin Contract

October 26, 2023 at 06:30 AM EDT

ⓘ This article is third-party content and does not represent the views of this site. We make no guarantees regarding its accuracy or completeness.

Terran Orbital Awarded ECP to Host Additional Payloads

Lockheed Martin has awarded Terran Orbital Corporation (NYSE: LLAP) (“Terran Orbital” or the “Company”), a global leader in satellite-based solutions primarily serving the aerospace and defense industries, an Engineering Change Proposal (ECP) to host additional payloads. The contract modification adds $7.7M to an existing satellite design and manufacturing program. This addition was awarded following a successful Critical Design Review (CDR) earlier this year. The modification incorporates additional previously anticipated scope into the contract. This modification brings the total value of the contract to just over $52 million.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231026631594/en/

Photo Credit: Terran Orbital

Last year, Terran Orbital delivered 10 satellite buses to Lockheed Martin in support of their Tranche 0 Transport Layer contract with SDA. Terran Orbital is currently building 42 buses for Lockheed Martin to help the company fulfill its $700 million contract for the SDA’s Tranche 1 Transport Layer (T1TL), currently scheduled for a late 2024 launch, and, as previously announced this week, Terran Orbital was just awarded 36 buses to help the company fulfill its $816 million contract for the SDA’s Tranche 2 Transport Layer (T2TL), currently scheduled for late 2026.

About Terran Orbital

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 at www.terranorbital.com.