Rocket Lab has started the year on a very promising pedestal.
American space and rocket engineering firm, Rocket Lab USA Inc (NASDAQ: RKLB) is seeing impressive growth in its stock price after it successfully completed its first space mission on US soil. As reported by Reuters, the launch took place on Tuesday from the firm’s new launch pad at the NASA-operated Wallops Flight Facility on Wallops Island, Virginia.
The company made use of its flagship Electron Rocket, a 40-foot tall rocket that is replaceable. The company’s Virginia mission was initiated to help radio-frequency analytics firm Hawkeye 360 in deploying three of its satellites to low earth orbit.
Space missions are not a regular engineering and logistics adventure and it takes years of planning on both the part of the company as well as regulators involved. While there are dominant figures in space including SpaceX and Blue Origin amongst others, the space industry has seen the proliferation of companies with a different tilt and solution to existing ones.
With the government and companies in need of commercial satellites amongst the major market target, outfits like Rocket Lab have inked a unique market share since its inception. The recent space launch of the Electron Rocket is the company’s 33rd mission since 2017.
As a company, Rocket Lab has its primary launchpad strip in New Zealand, and the attempt to secure the right approval to launch in the United States resulted in some forms of delay. At this time, The launch was actually delayed 3 times as regulators scrutinized the company’s Electron’s automated flight termination system.
Besides this delay, the very bad weather in Virginia also contributed to the delays that were recorded in the more than 1 year since the firm had been planning the launch.
Rocket Lab and the HawkEye 360 Alliance
The Tuesday satellite’s lifting off to the edge of space is not going to be the last one for both companies. Over the course of this year and the next, Rocket Lab is billed to launch at least 2 more space missions on behalf of the company.
According to Pulse 2.0, these missions will see as many as 12 more HawkEye satellites get deployed to space as it seeks to provide global geolocation of radio frequency emissions from anywhere in the world. Today, most TV stations and cable network channels cannot operate if firms like Rocket Lab are not in the business.
The company’s shares shot up by 4.43% to $4.97% after the close of trading on Tuesday and in After Hours trading, it has added an additional 22 cents to the price at the time of writing.
The California-based company, Rocket Lab has started the year on a very promising pedestal. With the flight window slated for 6 pm EST, by 7:34 pm, the company announced that the mission was successfully executed.