Terran Orbital

Terran Orbital is a leading satellite manufacturer specializing in small satellite platforms serving aerospace and defense customers. In October 2024, Lockheed Martin completed the acquisition of Terran Orbital for $450 million, integrating the company into Lockheed Martin's Space business area to expand small satellite production capabilities.

Founded in 2011 as Tyvak Nano-Satellite Systems, the company initially focused on nanosatellites and CubeSats before transitioning to larger satellite platforms after rebranding to Terran Orbital in 2022. The company brings high-throughput robotic manufacturing capacity and high-performing modular space vehicle designs, having supported more than 80 missions over the past decade for government and commercial customers from low-Earth orbit to the Moon.

Terran Orbital has been a primary satellite bus manufacturer for the Space Development Agency's proliferated architecture. The company delivered 10 buses for the Tranche 0 Transport Layer and is currently building 42 buses for Lockheed's work on the Tranche 1 Transport Layer and 18 satellite buses for the Tranche 2 Tracking Layer. Lockheed Martin represented 71% of Terran Orbital's revenue in the first half of 2024.

Lockheed Martin's relationship with Terran Orbital began with an initial investment through LM Ventures in 2017, followed by additional investments in 2020 and 2022 including a $100 million investment in November 2022 supporting 3D printing capabilities and production facility expansion. Under Lockheed Martin ownership, Terran Orbital continues advancing small satellite manufacturing capabilities for defense and commercial space programs.