Terran Orbital
United States acquired
Terran Orbital
Terran Orbital is a leading satellite manufacturer specializing in small satellite platforms serving aerospace and defense customers.
- Headquarters
- Boca Raton, United States
- Founded
- 2013
- Type
- commercial
- Founded
- 2013
- Headquarters
- Boca Raton, United States
- Stage
- Acquired
- Ownership
- Subsidiary of Lockheed Martin
- Last round
- Undisclosed round · $952K 2022-07
Quick Facts
Country
United States
Founded
2013
Type
commercial
Status
acquired
About Terran Orbital
Updated 2026-09-17
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.
Products and product lines
| Product | Line | Note |
|---|---|---|
| Modular satellite bus platforms (Triumph, Renegade, Voyager, Excelsior, Nebula, Ambassador, Enterprise) | Satellite bus family | Customizable spacecraft platforms manufactured for defense and commercial missions, including buses supplied for the Space Development Agency's proliferated constellation architecture. |
| SDA Tranche satellite buses | Missile-warning / tracking satellite bus | Terran Orbital was selected by Lockheed Martin on 30 December 2025 to provide 18 satellite buses for the Space Development Agency's Tranche 3 Tracking Layer. |
| Star Tracker product line (M10, H6, F4) | Satellite attitude-determination component | Three flight-proven star-tracker models introduced 25 March 2026 for satellite attitude determination, with rapid attitude acquisition and FPGA-based image processing on the high-end F4 variant. |
| CAPSTONE 02 spacecraft | Cislunar / lunar spacecraft | Two ~400 kg spacecraft built for NASA to demonstrate autonomous rendezvous and proximity operations in cislunar orbit, targeting a 2027 launch; Critical Design Review completed 25 August 2026. |
| Farinella CubeSat (6U) | Planetary-defense CubeSat | Built by Tyvak International to support ESA's RAMSES mission to near-Earth asteroid Apophis, carrying radar, an optical imager and a dust detector toward a planned 2028 launch. |
| Oracle-Prime spacecraft | Cislunar space-domain awareness | Spacecraft for an Air Force Research Laboratory mission to detect, identify and track objects in cislunar space; completed Preliminary Design Review in December 2025. |
Timeline
- 2024 Lockheed Martin announces on 15 August an agreement to acquire Terran Orbital and subsidiary Tyvak International at an enterprise value of approximately $450 million ($0.25 per share in cash plus retirement of existing debt), expected to close in Q4 2024. [source]
- 2024 Lockheed Martin completes the acquisition on 30 October 2024; CEO Marc Bell and the rest of the prior executive team and board are separated, and Peter Krauss — Terran Orbital's Executive VP and COO since 1 June 2024 — becomes Chief Executive Officer. [source]
- 2025 Terran Orbital is selected by Lockheed Martin on 30 December to provide 18 satellite buses for the Space Development Agency's Tranche 3 Tracking Layer, a missile-warning and tracking constellation. [source]
- 2026 Terran Orbital agrees on 28 January to deliver a Nebula-platform satellite bus carrying a Quantum Key Distribution and optical-terminal payload for a Mitsubishi Electric-led Japanese LEO demonstration, with bus delivery planned for 2027 and launch targeted for 2029. [source]
- 2026 Subsidiary Tyvak International is selected, announced 13 March, to lead a European consortium building the Farinella CubeSat for ESA's RAMSES planetary-defense mission to asteroid Apophis, after completing the CubeSat's Critical Design Review in January 2026. [source]
- 2026 Terran Orbital introduces a new Star Tracker product line (M10, H6, F4 models) on 25 March 2026 at SATSHOW 2026. [source]
- 2026 NASA selects Terran Orbital, announced 28 July, to build two spacecraft for the CAPSTONE 02 cislunar mission targeting a 2027 launch, building on the original CAPSTONE mission. [source]
- 2026 Terran Orbital completes Critical Design Review for CAPSTONE 02 on 25 August, advancing the two-spacecraft cislunar mission toward integration and testing. [source]
Key People
Peter Krauss (President and CEO), Marc Bell (former CEO, until October 2024)
Funding history
5 events| Date | Round | Amount | Investors | Source |
|---|---|---|---|---|
| 2022-07-05 | Undisclosed round | $952K | — Form D filed 2022-07-14 by Terran Orbital Corp: $952K sold of a $101.0M offering (first sale 2022-07-05). | sec.gov |
| 2018-07-23 | Undisclosed round | $33.0M | — Form D filed 2018-08-02 by TERRAN ORBITAL Corp: $33.0M sold of an open-ended offering (first sale 2018-07-23). | sec.gov |
| 2018-07-23 | Undisclosed round | $36.0M | — Form D amendment filed 2018-08-06 by TERRAN ORBITAL Corp: $36.0M sold of an open-ended offering (first sale 2018-07-23). | sec.gov |
| 2017-06-26 | Undisclosed round | $7.0M | — Form D filed 2017-07-11 by TERRAN ORBITAL Corp: $7.0M sold of an open-ended offering (first sale 2017-06-26). | sec.gov |
| 2015-07-30 | Undisclosed round | $1.5M | — Form D filed 2015-07-30 by TERRAN ORBITAL Corp: of a $1.5M offering. | sec.gov |
Team
Open jobs
29 openings- Irvine, CA
- Irvine, CA
- Irvine, CA
- Irvine, CA
- Irvine, CA
- Irvine, CA
- Irvine, CA
- Irvine, CA
Live from Terran Orbital's own Greenhouse job board. See all open roles across the directory.
Signals
- Verification
- Verified 2026-09-17
Categories & Capabilities
Industry Categories
Latest from Agency Feeds
6 mentions across NASA, ESA, JAXA, ISRO, JPL & SpaceX
Terran Orbital
Terran Orbital Promotes Margherita Cardi to Vice President of European Operations & Head of Strategic Programs
Terran Orbital
Terran Orbital Promotes Carl William Couch II to Vice President of Strategy and Business Development
Terran Orbital
Terran Orbital Advances CAPSTONE 02 Spacecraft Following Successful Critical Design Review
Terran Orbital
Terran Orbital to Provide Spacecraft for NASA's Next-Generation CAPSTONE 02 Lunar Mission
Terran Orbital
Terran Orbital Spacecraft Advances Through Major Milestone for AFRL's Oracle-Prime Mission
Auto-matched by name from primary national-agency RSS feeds. See full live feed →
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Frequently asked about Terran Orbital
Quick answers to the questions readers most often search for.
- When was Terran Orbital founded?
- Terran Orbital was founded in 2013 in United States.
- Where is Terran Orbital headquartered?
- Terran Orbital is headquartered in Boca Raton, United States.
- What does Terran Orbital do?
- 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 satellit…
- Was Terran Orbital acquired?
- Terran Orbital has been acquired by Lockheed Martin.
- What sector does Terran Orbital operate in?
- Terran Orbital works in satellite manufacturing, Defense and Small satellites, plus 4 other space-industry sectors.
Data Accuracy Notice: Information about Terran Orbital is compiled from publicly available sources including company websites, press releases, regulatory filings, and industry reports. Data is reviewed periodically but may not reflect the most recent developments.
Matched to SEC EDGAR, OpenCorporates · data pass September 17, 2026
Editorial owner: Dr. Donovan, Editor-in-Chief Company representatives may submit corrections • This page does not constitute an endorsement or affiliation • Learn about our data methodology