Lockheed Martin has finalized its acquisition of Terran Orbital and its subsidiary Tyvak International in a transaction that expands its space capabilities and enables it to rapidly develop and deploy mission-ready spacecraft.
The Bethesda, Maryland-based aerospace and defense contractor first announced the transaction in August.
“The addition of Terran Orbital’s spirit of entrepreneurship to the scale of Lockheed Martin means there is a great deal of opportunity to keep pushing the boundaries of technology and space solutions together,” Robert Lightfoot, president of Lockheed Martin Space, said in a statement published Wednesday.
“Together, we can deliver our combined innovation and services with a greater sense of urgency to support our customers’ commercial, civil and national security needs,” added Lightfoot, a three-time Wash100 awardee.
Reporting Through Lockheed Martin Space
Boca Raton, Florida-based Terran Orbital will retain its name and operate under Lockheed’s space business while maintaining locations in California, Georgia, Virginia and Italy.
The acquired company will continue to serve as an industry supplier and deliver satellite design and production, launch planning, mission operations and in-orbit support to meet the needs of military, civil and commercial space missions.
Lockheed will integrate Terran Orbital’s customizable spacecraft platforms with its payload and mission system integration expertise to provide customers with more robust space capabilities.
Lockheed’s Collaboration With Terran Orbital
The defense technology company has worked with Terran Orbital on technology demonstrations and Space Development Agency programs.
In October 2023, Lockheed awarded the satellite maker a contract to build 36 Beta satellite buses for the second tranche of the SDA Proliferated Warfighter Space Architecture’s transport layer.
Lockheed initially invested in the spacecraft manufacturer in 2017 through its LM Ventures fund, followed by two additional investments in 2020 and 2022.
