Rocket Lab USA, Inc. is a publicly traded aerospace manufacturer and launch service provider.[10] It operates and launches lightweight Electron orbital rockets[10] used to provide dedicated launch services for small satellites[11] and a suborbital Electron variant called HASTE (Hypersonic Accelerator Suborbital Test Electron).[12] The company plans to offer a larger Neutron rocket[13] as early as 2025.[14] Electron rockets have launched to orbit 49 times from either Rocket Lab's Launch Complex 1 in New Zealand[10] or at the Mid-Atlantic Regional Spaceport in Wallops Island, Virginia.[15] In 2023 Rocket Lab launched one sub-orbital HASTE rocket from Wallops Island, Virginia.[16] Rocket Lab manufactures and operates spacecraft and is a supplier of satellite components including star trackers, reaction wheels, solar cells and arrays, satellite radios, separation systems, as well as flight and ground software.[17]
 | |
| Company type | Public |
|---|---|
| |
| Industry | Launch service provider |
| Founded | June 2006 in Auckland[1] |
| Founder | Peter Beck[2] |
| Headquarters | Long Beach, California, U.S.[3] |
Key people | Peter Beck (CEO & CTO)[2] |
| Products | Electron rocket Rutherford rocket engine Archimedes rocket engine Curie and HyperCurie rocket engine[4] Photon satellite bus family Neutron rocket |
| Revenue |  US$245 million (2023) |
 US$−135 million (2022) | |
| US$−183 million (2023) | |
| Total assets | US$940 million (December 2023[5]) |
| Total equity | US$673 million (2022) |
Number of employees | 2,000[6] (June 2024) |
| Website | rocketlabusa |
| Footnotes / references [7][8][9] | |
The company was founded in New Zealand in 2006.[18] By 2009,[19] the successful launch of Ātea-1[19] made the organization the first private company in the Southern Hemisphere to reach space.[18] The company established headquarters in California, U.S. in 2013[20] and developed the expendable[21] Electron rocket.[22] Electron's first launch took place in May 2017.[23] In August 2020, the company launched its first Photon satellite.[24] The company built and operates satellites for the Space Development Agency,[25][26] a direct-reporting agency of the United States Space Force.
In May 2022, after four years of development, the company attempted to recover the Electron booster by a helicopter.[27] In 2024, the company announced that a first stage booster recovered on an earlier launch would be reused on a future launch.[28]
Rocket Lab acquired four companies to expand its space systems offering, including Sinclair Interplanetary in April 2020,[29] Advanced Solutions in December 2021,[30] SolAero Holdings in January 2022,[31] and Planetary Systems in December 2021.[32] As of June 2024, the company had approximately 2,000 full time permanent employees globally.[6] Approximately 700 of these employees are based in New Zealand with the remainder in the United States.[33] As of 2024, the company was developing the bigger Neutron reusable unibody rocket;[14] multiple spacecraft buses,[34] and rocket engines: Rutherford,[35] Curie,[36] HyperCurie,[37] and Archimedes.[38] In mid 2024, the company entered the engine test phase in Neutron’s development process.[39]
In August 2021, the company went public on the Nasdaq stock exchange through a SPAC merger.[40]
History
Origin (2006–2012)
The company was founded in June 2006[18] by Peter Beck in New Zealand, after a trip to the United States.[41] During the trip, Beck realized the possibility and potential for a low-cost, small rocket. While contacting potential investors, he met Mark Rocket,[42] who later became a seed investor and was co-director from 2007 to 2011.[43] Other investors to the company included Stephen Tindall,[44][45] Vinod Khosla, and the New Zealand Government.[46]
The company became the first private company in the Southern Hemisphere to reach space after launching its Ātea-1 sounding rocket in November 2009.[47] The payload was not recovered, and the launch was deemed unsuccessful.[48] The payload was a ballistic instrumentation dart and its trajectory depended only on the boost phase.[49] The launch took place off the coast of New Zealand, from the private island (Great Mercury Island) of Michael Fay, a New Zealand banker and Rocket Lab investor.[45]
In December 2010, the company was awarded a U.S. government contract from the Operationally Responsive Space Office (ORS) to study a low cost space launcher to place CubeSats into orbit.[50][51][52][53] The agreement with NASA enabled the company to contract for limited NASA resources such as personnel, facilities, and equipment for commercial launch efforts.[54][55]
United States move (2013–2020)
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Around 2013, the company moved to the United States, and established its headquarters in Huntington Beach, California.[56][57] The move coincided with funding from American sources, and was in part due to increased U.S. government involvement.[56] The New Zealand company became a subsidiary of the American company.[58] In 2020, Rocket Lab moved to Long Beach.[59] The move was motivated by the need to accommodate the company's growing workforce and to be closer to suppliers and customers.[60] The new facility includes a state-of-the-art production facility for manufacturing the company's Electron launch vehicle,[61] as well as administrative offices and other support facilities.[62][63]
In 2013, funding was obtained from Khosla Ventures,[64] and Callaghan Innovation (a Crown entity of New Zealand).[56] Bessemer Venture Partners invested in 2014[65][66] and Lockheed Martin invested in 2015.[67] Rocket Lab announced in March 2017 that it had raised an additional US$75 million in a Series D equity round led by Data Collective with participation by Promus Ventures and earlier investors.[68] In May 2017, Callaghan Innovation funding was reported to total NZ$15 million.[59] In November 2018, the company reported raising a US$150 million Series E round led by Future Fund.[69] The first NASA mission, launched in 2018, was valued by the space agency at US$6.9 million (with launch services, etc., included).[70]
In 2018, Rocket Lab began to develop reusable first-stage technology,[71] after previously stating publicly that they had no intention of attempting to recover/reuse their launch vehicles.[72] They disclosed the effort to study the potential recovery of an Electron first stage in August 2019, aiming to use a parachute and mid-air retrieval.[73] In December 2019, they flight tested the reentry technology, a Rocket Lab proprietary aerothermal decelerator,[74] on Electron flight number 10, and were able to decelerate the rocket and successfully bring it through the space to lower atmosphere transition.[74] In November 2022, Rocket Lab cut the ribbon on an engine test facility for the Archimedes engine at NASA's Stennis Space Center.[75]
In March 2020, the company announced that it had acquired Sinclair Interplanetary, a Canadian manufacturer of components for small satellites.[76] Rocket Lab said that it would use Sinclair technology on its Photon line of small satellite buses, and that it would help Sinclair increase production of small satellite components for sale to other firms.[77] Thereafter, Rocket Lab launched missions with some or all of the payload being made by Sinclair Interplanetary.[78]
Public company (2021–)
In March 2021, the company announced that it was planning to go public through an initial public offering (IPO) of stock in the second quarter of 2021.[79] The company planned to accomplish the IPO through a merger with a special-purpose acquisition company (SPAC) called Vector Acquisition Corporation (VACQ).[79][80] The merger planned to value the company at US $4.1 billion and provide the company with US $790 million in working capital to support the development of a medium-lift two-stage-to-orbit launch vehicle called Neutron, aiming for the mega-constellation satellite deployment market.[79] Neutron was planned to be partially reusable with the booster stage performing a Return To Launch Site (RTLS) landing, to be refurbished and relaunched.[81]
The company began trading on the Nasdaq stock exchange on 25 August 2021 after merging with SPAC Vector Acquisition, at a $4.8 billion valuation. The transaction added $777 million in gross cash.[82][83] At the time Rocket Lab had over 500 employees and it had successfully launched 105 satellites into orbit.[84][85][82] Rocket Lab's launch business booked revenues of $13.5 million in 2018, $48 million in 2019 and an estimated $33 million in 2020.[82] Rocket Lab spent somewhere between $250 million to $300 million of the cash gained from going public to develop Neutron.[86] Rocket Lab aimed to launch Neutron by 2025.[87]
As of August 2021, the company intended to build a new factory in the United States to build the rockets as well as launch infrastructure for Neutron at the Mid-Atlantic Regional Spaceport in Wallops Island, Virginia.[77][82] In October 2021, the company acquired Advanced Solutions, Inc (ASI), a Colorado-based spacecraft flight software company.[88] In November 2021, the company acquired Planetary Systems Corporation (PSC), a manufacturer of satellite separation systems for $81.4 million.[89] In January 2022, the company acquired SolAero, a supplier of space solar power products.[90]
On 3 May 2022, in the "There And Back Again" mission, the company launched its Electron rocket from New Zealand and attempted to recover it for the first time.[91] It was able to capture the falling rocket booster in mid-air, a historic first.[92][93][94][95] Beck later said that the booster was hanging improperly, so it was allowed to parachute into the water where it was extracted by a ship.[96]
In August 2022, the company revealed plans to become the first private company to reach Venus.[97] The company is building a small probe, called the Venus Life Finder (VLF),[98] which is designed to plunge through Venus's upper atmosphere for roughly five minutes between 29 mi (47 km) and 37 mi (60 km) above the planets' surface, searching for organic compounds.[97] As of March 2023, the target launch date aboard the Electron rocket was January 2025.[99]
In October 2023, Rocket Lab officially opened its engine development facility in Long Beach to support the development of the Archimedes engine.[100] The facility, including production assets such as machinery and equipment, had been acquired in May 2023 out of Virgin Orbit's bankruptcy proceedings.[101]
In January 2024, Rocket Lab became the prime contractor for a $515M USSF military satellite project, the company's largest contract to date.[102][103]
In April 2024, the company announced it would begin selling carbon composite products to customers.[104]
Hardware
Electron orbital rocket
Electron is a two-stage launch vehicle that uses Rocket Lab's Rutherford liquid engines on both stages.[105][106] The vehicle is capable of delivering payloads of 150 kg to a 500 km Sun-synchronous orbit.[107] The projected cost is less than US$5 million per launch.[108]
The Rutherford engine uses pumps driven by battery-powered electric motors rather than a gas generator, expander, or preburner.[109] The engine is fabricated largely by 3D printing, using electron beam melting,[110] whereby layers of metal powder are melted in a high vacuum by an electron beam.[111] By March 2016, the 5,000 lbf (22 kN) second-stage Rutherford engine had completed firing tests.[112] The first test flight took place on 25 May 2017 from Māhia Peninsula on New Zealand's North Island.[113] After reaching an altitude of about 224 km (139 mi), the rocket was performing nominally, but telemetry was lost and it was destroyed.[114][115][116]
On 21 January 2018, their second rocket, on a flight named "Still Testing", launched, reached orbit and deployed three CubeSats for customers Planet Labs and Spire Global.[117] The rocket also carried a satellite payload called Humanity Star, a 1 m (3 ft 3 in) wide carbon fibre geodesic sphere made of 65 panels that reflect the Sun's light.[118] Humanity Star re-entered Earth's atmosphere and burned up in March 2018.[119] On 11 November 2018, the first commercial launch (third launch overall) took off from Māhia Peninsula carrying satellites for Spire Global, GeoOptics, a CubeSat built by high school students, and a prototype of a dragsail.[120]
On 4 July 2020, an issue during the second-stage burn of flight 13, named "Pics or It Didn't Happen", caused Electron to fail to get into orbit and its payloads were lost.[121] On 19 November 2020, a launch mission named "Return to Sender" successfully deployed its payload of 30 small satellites.[122] First stage recovery was also successfully implemented.[123] On 15 May 2021, the company launched "Running Out Of Toes" which successfully used the first stage recovery method like the one used on "Return to Sender".[124] However, the rocket failed to place its payload of two BlackSky satellites into orbit after an issue occurred with the second stage.[125] On 15 September 2022, Rocket Lab launched "The Owl Spreads Its Wings" mission, sending a synthetic aperture radar (SAR) satellite into Earth orbit.[126] On September 19, 2023, the Electron failed its mission to deliver a Capella Space synthetic aperture radar imaging satellite when the rocket's second stage failed shortly after separation.[127] Electron successfully returned to flight on December 14 with the launch of a Japanese radar imaging satellite, which marked a record 10th flight for the rocket in 2023.[128]
Two attempts have been made to recover an Electron booster by helicopter.[129] In addition, six attempts have been made at soft water recovery.[130][131]
HASTE suborbital rocket
HASTE (Hypersonic Accelerator Suborbital Test Electron) is a suborbital testbed derived from the Electron orbital rocket.[132] HASTE provides flight test opportunities for hypersonic and suborbital system technology development.[132] HASTE successfully launched its first mission "Scout's Arrow" on 18 June 2023for Leidos.[133]
HASTE has a payload capacity of 700 kg, double that of Electron. It can deploy payloads from 80 km altitude and higher.[132] In 2024, 2 HASTE launches were planned.[134] As of November 2023 Rocket Lab had contracted for at least six HASTE missions.[135]
Neutron reusable rocket
The company announced in March 2021 that it was developing a new medium-lift two-stage human rated launch vehicle called Neutron.[136] Neutron is expected to be 40 m (130 ft) tall with a 4.5 m (15 ft) diameter fairing.[13] It will have 13 and 15 ton capacities.[137] Rocket Lab said they aim to make the first stage of the vehicle reusable with landings planned on a floating landing platform downrange in the ocean.[79][81] This method is similar to how SpaceX recovers the Falcon 9 and Falcon Heavy rockets.[138] During a question & answer session with space and rocket communicator Scott Manley, Peter Beck indicated a preference to avoid fixed assets such as landing barges.[139] This indicated that design work had proceeded on the basis that the Neutron would return for landing rather than landing downrange.[140]
Neutron launches are intended to take place from the Mid-Atlantic Regional Spaceport (MARS) on the eastern coast of Virginia.[13] Rocket Lab is expected to modify the existing launch pad infrastructure at Launch Pad 0A (LP-0A).[79] In March 2022, Rocket Lab announced that Neutron will be manufactured at a facility adjacent to Launch Complex 2 at the Mid-Atlantic Regional Spaceport.[13] Launch Complex 2 is currently being used for Electron launches.[141] Rocket Lab began to break ground for this facility on 11 April 2022.[142] As of March 2021, the company is planning for the first launch no earlier than mid-2025.[87] In mid-2024, it was announced the company completed assembly on the first Archimedes engine, which will undergo testing at Stennis Space Center as well as some assembly on Neutron’s fairings.[143][39]
Ātea sounding rocket
The first and only launch of the Ātea (Māori for "space") sub-orbital sounding rocket occurred in late 2009.[144] The 6 m (20 ft) long rocket weighing approximately 60 kg (130 lb) was designed to carry a 2 kg (4.4 lb) payload to an altitude of around 120 km (75 mi).[145] It was intended to carry scientific payloads or possibly personal items.[146][147][148]
Ātea-1, named Manu Karere or Bird Messenger by the local Māori iwi,[149] was successfully launched from Great Mercury Island near the Coromandel Peninsula on 30 November 2009 at 01:23 UTC (14:23 local time). Fueling problems delayed the liftoff.[150][151] The rocket was tracked by GPS uplink to the Inmarsat-B satellite constellation.[152][153] After the flight, Ātea-1 splashed down approximately 50 km (31 mi) downrange.[151][154] The payload had no telemetry downlink, but had instrumentation including the launch vehicle's uplink to Inmarsat.[152] The payload was not required to be recovered as it was only a dart and nothing of importance or value.[48][155] The company advised that should it be encountered by vessels at sea, the payload should not be handled as it was "potentially hazardous" and contained delicate instruments.[156] However, performance characteristics were determined by the boost stage, which did have downlink telemetry and was recovered.[157] This allowed Rocket Lab to apply the entire team to the Electron rocket.[49][158]
Photon satellite bus
Photon is a satellite bus based on the Electron kick stage.[159] It can use a variety of engines, such as the Curie and HyperCurie engines, as well as engines from third-party sources, such as the one powering the EscaPADE mission.[160] Photon communicates on the S-band.[161] Depending on the orbital inclination (37° to Sun-synchronous orbit), it is expected to have a maximum payload capacity of 170 kg (370 lb).[162] The low Earth orbit version of Photon can take 170 kg (370 lb) to Sun-synchronous orbit.[163] The interplanetary version was to have a 40 kg (88 lb) payload capacity.[164] HyperCurie is an evolution of the Curie engine, which comes in a monopropellant version and a bipropellant version, while the HyperCurie is hypergolic.[37] HyperCurie is electrically pumped.[165]
Rocket Lab's first in-house designed and built Photon demonstration satellite was called First Light.[166] It was launched aboard an Electron rocket on 31 August 2020 on the 14th Electron mission "I Can't Believe It's Not Optical".[167][168] On that mission, the Electron rocket lifted First Light and the customer satellite, Capella 2, to orbit and then the First Light satellite, as a kick stage, inserted the customer satellite into its orbit and then went on to begin its own orbital mission as a standalone satellite.[169] First Light had a dual role, as the final rocket stage delivering the customer satellite and then as a standalone satellite.[166] The purpose of the First Light mission was to demonstrate the (as compared to "plain" kick stage) systems for operating in orbit as a long-duration standalone satellite.[169] To demonstrate Photon bus' payload hosting, First Light had a low-resolution video camera.[169]
As of 2024[update], Rocket Lab has 4 variations of satellite bus platform: Explorer, Pioneer, Lightning and Photon.[170]
Notable missions
In February 2020, Rocket Lab was selected by NASA to launch the CAPSTONE (Cislunar Autonomous Positioning System Technology Operations and Navigation Experiment) on Electron and deploy it to lunar orbit from a Photon spacecraft bus.[171] CAPSTONE is a microwave oven–sized CubeSat weighing 55 pounds and is the first spacecraft to test a unique, elliptical lunar orbit.[172] As a pathfinder for the Lunar Gateway, a Moon-orbiting outpost that is part of NASA’s Artemis program, CAPSTONE will help reduce risk for future spacecraft by validating innovative navigation technologies and verifying the dynamics of this halo-shaped orbit.[173] Originally scheduled to launch from Virginia, the launch location was adjusted to Launch Complex 1 in New Zealand in August 2021[174] due to delays in certifying the NASA autonomous flight termination system planned to fly on Electron missions from Launch Complex 2.[175] The CAPSTONE mission was successfully launched on Electron in June 2022[176] and on July 4th Photon's HyperCurie engine completed the final Translunar Injection Burn, successfully releasing the CAPSTONE spacecraft on a trajectory to lunar orbit.[177] CAPSTONE completed its primary six-month mission and as of July 2023 was continuing an enhanced mission to deliver ongoing data in support of Artemis.[178]
Viscous liquid monopropellant
In 2012, the company demonstrated a rocket propelled by a Viscous Liquid Monopropellant (VLM) developed in DARPA and Office of Naval Research (NRL) work.[179][180] The VLM was reported to be thixotropic, so that it behaves as a pseudo solid until a shear force is applied, at which point it flows like a liquid. The VLM was reported to have a density comparable to solid-rocket fuels.[180] The VLM reportedly required no special handling, was non-toxic, water-soluble, had low sensitivity to shock, a high ignition point, and was barely flammable in atmosphere.[181] The company earned a US patent on the system.[182][183]
Instant Eyes
In 2011, Rocket Lab had a program called "Instant Eyes".[184][185] The Instant Eyes UAV[186] was designed for military personnel seeking a bird's-eye view of the battlefield, much like the capabilities of modern-day drones.[187][188] Upon launching, the rocket with its 5 Mega Pixel camera would reach an altitude of 2,500 feet within 20 seconds.[184][189]
Facilities
Manufacturing
In October 2018, the company revealed their new manufacturing facility in Auckland, New Zealand.[190] It is intended for the production of propellant tanks and stage builds, and is in charge of the overall integration of launch vehicles at Launch Complex 1.[191] The company's headquarters in Long Beach, California, produces their Rutherford engines and avionics.[3][191]
The company's primary manufacturing facility is located in Huntington Beach,[192] where rocket components are manufactured and assembled before traveling to the New Zealand launch site.[193]
The manufacturing process begins with the production of the Electron rocket's first stage, which is built using carbon composite.[194] The material is designed to be strong and lightweight.[18]
Once the first stage is complete, it is transported to the New Zealand launch site, where the second stage and other components are added.[195] The second stage is powered by a single Rutherford engine.[194] The engine uses an electric pump-fed propulsion system.[194]
Manufacturing the carbon composite components of the main flight structure has traditionally required 400 hours, involving extensive hand labor.[196] In late 2019, Rocket Lab brought a new robotic manufacturing capability online to produce Electron's composite parts in 12 hours.[197] The robot was named "Rosie the Robot", after The Jetsons character.[198] The process can make all the carbon fiber structures as well as handle cutting, drilling, and sanding such that the parts are ready for final assembly.[198] The company objective as of November 2019 was to reduce the overall Electron manufacturing cycle to seven days.[195][197][199]
Rutherford engine production uses additive manufacturing.[200]
In October 2023, Rocket Lab announced it had acquired carbon composite manufacturing facilities, equipment and more than 50 team members from SailGP Technologies in Warkworth, New Zealand.[201] SailGP was already a supplier to Rocket Lab, so when SailGP announced plans to move operations to the UK, Rocket Lab took over the facilities and employees to support a growing production rate for the Electron rocket and the rapid development of Neutron.[202]
In October 2023, Rocket Lab officially opened its Engine Development Center in Long Beach in the former Virgin Orbit factory, where the company now builds Rutherford and Archimedes engines.[203]
In November 2023, Rocket Lab announced plans to establish a Space Structures Complex in Middle River, Maryland, deliver a comprehensive suite of advanced composite products for the space industry and to further vertically integrate supply for the company’s internal needs across launch and space systems.[204] The site will also play a role in the development and long-term supply of carbon composite structures for Neutron.[205]
Through the acquisition of SolAero, Rocket Lab also has facilities in Albuquerque, New Mexico.[206] Through the acquisition of ASI, the company has facilities in Littleton, Colorado.[207] Through the acquisition of Planetary Systems Corporation, the company has facilities in Maryland,[208] and in Toronto, Canada through the acquisition of Sinclair Interplanetary.[209] In September 2021, Rocket Lab announced it was expanding production of reaction wheels with a new production line in Auckland to support production of up to 2,000 reaction wheels per year for an undisclosed mega constellation customer.[210]
Launch Complex 1
The company's Launch Complex 1 (LC-1) is a private orbital launch site located on the Māhia Peninsula in New Zealand.[211] The site consists of two launch pads,[212] a vehicle integration facility, and a range control center.[213] It was designed to support the company's Electron launch vehicle, which is optimized for small satellite launches.[214]
The company originally planned to use the Kaitorete Spit as their primary launch site and Mahia as a usually secondary one.[215] After encountering difficulty in obtaining resource consent for the Kaitorete Spit launch site,[216] Rocket Lab announced in November 2015 that its primary launch site would be on the Māhia Peninsula, east of Wairoa on the North Island.[217] The site is licensed to launch rockets every 72 hours for 30 years.[218] Rocket Lab Launch Complex 1 (LC-1A) was officially opened on 26 September 2016 (UTC; 27 September NZDT).[219] In December 2019, Rocket Lab began construction of a second pad on Māhia Peninsula named Launch Complex 1B.[220] On 28 February 2022, Launch Complex 1B hosted its first launch: "The Owl's Night Continues".[221]
LC-1 has been in operation since 2017 and has supported numerous launches for a variety of customers, including NASA, the U.S. Air Force, and commercial satellite operators.[222] LC-1A was the first part of LC-1 and was introduced in 2017.[223] The first launch supported from LC-1A was "It's a Test".[224] LC-1B was added later in February 2022.[225] "The Owl's Night Continues" was the first launch supported from LC-1B.[221]
Launch Complex 2
In late 2018, the company selected the Mid-Atlantic Regional Spaceport (MARS) at NASA's Wallops Flight Facility as their second launch site.[226] The selection was announced in October 2018.[227] Factors included infrastructure readiness, low number of launches from other companies, and the ability to supplement orbital inclinations already provided by LC-1.[191] It is expected to be capable of monthly launches for United States government and commercial missions.[191] Launch Complex 2 (LC-2) is located within the fence line of MARS Launch Pad 0A.[191] In December 2019, construction of the launch pad was completed and Rocket Lab inaugurated LC-2.[227]
The first Electron launch from LC-2 happened on 24 January 2023 during the "Virginia is for launch lovers" mission, named in celebration of the inaugural launch from LC-2.[228] During the mission, Electron successfully launched 3 satellites to orbit.[229] Since then, two more missions have been launched from LC-2.[230][231]
Launch Complex 3
In October 2023, construction of a new launch site between LP-0A and LP-0B was seen.[232] The new launch site will be for Neutron and will be named Launch pad 0D (LP-0D).[233] Rocket Lab will refer to LP-0D as Launch Complex 3 or LC-3 (located at 37.8321693°N 75.4899046°W).[234] In January 2024, considerable progress was reported on the construction of the launch site.[235] Additional progress was seen in March and April 2024 with the installation of the water tower.[236][237] Concrete work was reportedly completed in May 2024.[238]
See also
- Firefly Aerospace – American private aerospace company
References
External links
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