This Week In Space Industry(28/10/2023)

Greetings Detectives

Welcome to Rocket Roundup, Your favorite Saturday space newsletter! We're here to share exciting space news and discoveries with you.

Let's embark on this cosmic journey together! In This Issue:

• Third quarter space earnings

• Historic $100 Million In Seed Funding

• UK Space Agency signs deal with Axiom Space

• Space Force to collaborate with Indian startups on space technologies

UK Space Agency signs deal with Axiom Space

The UK Space Agency (UKSA) has signed an agreement with Axiom to send British astronauts on a commercially sponsored two-week scientific mission to space. The UKSA has issued a call for research and demonstration requests, focusing on AI, biotech, telecom, semiconductors, and quantum tech experiments. While the UK has yet to announce the crew, former UK astronaut Tim Peake is a front-runner to lead the team. Axiom, in partnership with SpaceX, organizes commercial missions to the International Space Station (ISS). The UK's mission to the ISS will likely cost upwards of $200 million, with the British commercial sector funding it.

China recruits Pakistan and Belarus for its planned moon base

Pakistan and Belarus have joined the International Lunar Research Station (ILRS) project led by China. The ILRS aims to establish a lunar base in the 2030s. The coalition now consists of seven nations: China, Russia, Belarus, Pakistan, Azerbaijan, Venezuela, and South Africa. While some of these nations may not have extensive space capabilities, their involvement offers political support for China's lunar plans. In contrast, NASA is building its own coalition through the Artemis Accords, with 29 nations signing agreements for responsible lunar exploration and the establishment of lunar bases near the moon's south pole.

Terran Orbital Holds Town Hall Meeting

Terran Orbital recently held a virtual town hall meeting to address its investors and discuss various matters. The highlights from the meeting include:

• Terran shares have been under pressure since de-SPAC and two weeks ago, an investor group sent a letter to the Board pushing for a 'strategic review and management change'.

• Lowering 2023 revenue guidance to less than $250 million due to payment delays from Rivada.

• Noting that Rivada has only paid Terran $5 million to date and is expecting $180 million this year.

• Indicating a plan to enter a six-month period to regain compliance with NYSE price rules and expecting no reverse split to maintain listing.

The meeting also touched on the company's initial SPAC (Special Purpose Acquisition Company) status, with the CEO mentioning that it was a "dumb idea" and that he would never do it again.

Space Force to collaborate with Indian startups on space technologies

The U.S. Air Force Research Laboratory (AFRL) has entered into Cooperative Research and Development Agreements (CRADAs) with two Indian startups, marking the first CRADAs between the U.S. Space Force and non-U.S. companies. The agreements were signed with artificial intelligence startup 114AI and imaging sensor supplier 3rd Itech. These collaborations aim to advance innovation in Earth observation sensors and space domain awareness, and they are part of a broader initiative to promote joint technology development with India. The U.S. Department of Defense and the Indian Ministry of Defense launched the India-U.S. Defense Acceleration Ecosystem (INDUS-X) in June to foster collaboration on emerging technologies.

Qosmosys Secures Historic $100 Million In Seed Funding

Singapore-based lunar technology firm Qosmosys has secured an industry-record-setting $100 million in seed funding, demonstrating the strong confidence of a group of private investors in its mission and vision. Qosmosys, founded in 2020, plans to use the funding to develop its lunar transportation vehicle, ZeusX, and complementary technologies for lunar applications. The funding model includes safeguards for investor interests ahead of a planned IPO by 2028. Qosmosys aims to launch its first ZeusX lunar lander in 2027 and a follow-up mission in 2029, serving sectors such as robotics, research, and mining.

Q3 Earnings Roundup

In the third quarter earnings reports from major aerospace and defense companies, notable highlights include:

Boeing ($BA) - Defense, Space & Security:

• Revenue: $5.5 billion, a 3% increase year-over-year.

• Operating loss: $(924) million, compared to a loss of $(2.8) billion in the previous year.

• Operating margin: (16.9)% compared to (52.7)% in the same period the previous year.

• Backlog: $58 billion.

• Shares: Down 2.5%.

General Dynamics ($GD) - Aerospace:

• Revenue: $2.0 billion, a 13% decrease year-over-year.

• Operating earnings: $268 million, a 14% decrease year-over-year.

• Operating margin: 13.2%, slightly down from 13.3%.

• Total backlog: $20 billion.

• Shares: Up 4.0%.

Northrop Grumman ($NOC) - Space Systems:

• Sales: $3.5 billion, an 11% increase year-over-year.

• Operating income: $312 million, an 8% increase year-over-year.

• Operating margin: 8.9%, slightly down from 9.2%.

• Shares: Down 1.1%.

These reports indicate varying performance in the aerospace and defense sector, with Boeing experiencing an improvement in revenue and reduced losses, General Dynamics facing a decrease in revenue, and Northrop Grumman reporting increased sales and operating income.

Terran Orbital Awarded $4.7 Million Contract by European Space Agency

Terran Orbital's subsidiary, Tyvak International s.r.l., has secured a prime contract worth $4.7 million (or €4.5 million) from the European Space Agency (ESA). The contract involves a proximity operations and in-orbit servicing mission that will deploy a nanosatellite spacecraft from Space Rider, ESA's uncrewed robotic laboratory. The nanosatellite will perform proximity operations maneuvers around Space Rider, demonstrating in-orbit servicing capabilities. This contract is part of a partnership with a consortium of Italian industries and research institutions and aims to pave the way for future recurring servicing missions. Terran Orbital continues its work in the space industry, providing satellite-based solutions.

• Terran Orbital faces share price challenge for continued trading
  

• MDA chooses SpaceX for Chorus constellation launch

• Australia and US formalise a Technology Safeguards Agreement

• Terran Orbital Awarded $7.7 Million Contract to Build 36 Satellite Buses for Lockheed Martin

• Rocket Lab Receives Federal Aviation Administration Authorization to Resume Launches

• Intuitive Machines Sets January 2024 for Historic U.S. Lunar Mission

RECOMMENDED READING

If you like Rocket Roundup, you might like these other newsletters too:

DISCLAIMER: (Rocket Roundup is an independent publication and is not affiliated with any government agency or space organization.)