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Terran Gets Lockheed Martin Sub-Contract

To build 18 satellite 'buses'

Terran Orbital, the satellite company with most of its operations in Irvine, said it has been awarded a Lockheed Martin sub-contract to produce 18 satellite “buses” for the Space Development Agency project. The body of a satellite, also known as a “bus,” holds the scientific equipment and other necessary components that are sent into space.

No price was disclosed.

Following the announcement, shares in after-hours trading rose 4.8% to $1.11. During regular trading, shares in Florida-headquartered Terran closed up 1% at $1.05 apiece for a market cap of $212 million.

Lockheed owns an estimated 6.7% of the shares of Terran Orbital.

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Kevin Costelloe
Kevin Costelloe
Tech reporter at Orange County Business Journal
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