Rocket Lab Corp. (NASDAQ:RKLB) has been onboarded to the U.S. Space Force’s NITE-STAR program, a $981 million contract vehicle supporting space test and training infrastructure, the company announced Monday.
What the NITE-STAR Contract Covers
The program, managed by Space Systems Command, is designed to help train space operators for contested scenarios and strengthen the Space Force’s readiness.
As an awardee, Rocket Lab can now compete for individual task orders under the program, spanning satellite development, space software, ground systems deployment, and sustainment of operational systems.
“Being selected for the NITE-STAR program highlights Rocket Lab’s commitment to advancing space innovation and supporting the U.S. Space Force’s mission to ensure space readiness,” said Brad Clevenger, Rocket Lab’s vice president of space systems.
Rocket Lab Joins 15 Other Companies Already Selected
In July, the Space Systems Command awarded the NITE-STAR contract to 15 companies, including Amentum Technology, BAE Systems PLC. (OTC:BAESY), CACI International Inc.(NYSE:CACI), Firefly Aerospace Inc. (NASDAQ:FLY), L3Harris Technologies Inc. (NYSE:LHX), Lockheed Martin Corp.‘s (NYSE:LMT) space unit, Northrop Grumman Corp (NYSE:NOC), Boeing Co. (NYSE:BA) and Viasat Inc. (NASDAQ:VSAT).
More Wins For Rocket Lab
On Monday, Rocket Lab was selected to build a satellite bus for Viasat under the Space Force’s Protected Tactical SATCOM-Global program.
Separately, eight satellite platforms Rocket Lab built for MDA Space Ltd. (NYSE:MDA) successfully reached orbit on Aug. 15, the first of 17 platforms under a $143 million deal to replenish Globalstar Inc.‘s (NASDAQ:GSAT) satellite constellation.
Earlier this month, the company entered into an equity distribution agreement to sell up to $1.94 billion in stock, with proceeds earmarked to help fund its proposed acquisition of Iridium Communications Inc. (NASDAQ:IRDM) and reduce debt.
Price Action: Rocket Lab gained 2.28% on Monday to close at $82.08 and rose 0.5% further in extended trading.
Benzinga edge rankings indicate Rocket Lab’s stock has a Momentum score in the 77th percentile, while it has a negative price trend in the short and medium term. The stock has a positive long-term price trend.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image Courtesy: Piotr Swat via Shutterstock.com
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