Lockheed Martin Acquires Terran Orbital in $450 Million Deal

In a move to bolster its position in the rapidly growing space sector, Lockheed Martin has agreed to acquire Terran Orbital in a deal valued at $450 million.  By integrating Terran Orbital's advanced small satellite technology and manufacturing capabilities, Lockheed Martin aims to enhance its offerings in national security, commercial, and scientific satellite services.

Terran Orbital's advanced small satellite technology is already integral to several of Lockheed Martin's key projects, including the Space Development Agency's Transport and Tracking Layer programs, as well as in various self-funded technology demonstrations. 

"We've worked with Terran Orbital for more than seven years on a variety of successful missions," said Robert Lightfoot, president, Lockheed Martin Space. "Their capabilities, talent and business momentum align with Lockheed Martin Space's strategic plans – and we're looking forward to welcoming them to our team. Our customers require advanced technology and even faster product development, and that's what we can achieve together."

The acquisition aligns with Lockheed Martin's broader goal of expanding its footprint in the space industry, particularly as demand for satellite-based communications, Earth observation, and defense systems continues to surge. Terran Orbital's expertise in designing and manufacturing small satellites is seen as a key asset that will enable Lockheed Martin to deliver more agile, cost-effective, and innovative solutions to its customers.

Terran Orbital boasts a decade-long history of delivering over 80 missions for government and commercial clients, spanning from low Earth orbit to the Moon. Lockheed Martin, its largest customer, has been a strategic partner since 2017, investing in the company three times through its venture arm, LM Ventures. This acquisition marks the first time Lockheed Martin has purchased an LM Ventures portfolio company.