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Terran Orbital Wins Lockheed Martin Tranche 2 Subcontract, Reports $27M in Q1 Revenue

Rachel Jewett By
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Terran Orbital Wins Lockheed Martin Tranche 2 Subcontract, Reports $27M in Q1 Revenue
Terran Orbital facility in Irvine, California. Photo: Terran Orbital

Lockheed Martin [LMT] awarded Terran Orbital [LLAP] a subcontract on May 13 to produce 18 satellite buses for its Tranche 2 (T2) Tracking Layer contract for the Space Development Agency. Terran Orbital previously built 10 buses for Lockheed Martin for the Tranche 0 Transport Layer, and is currently building 42 satellites for Lockheed Martin’s work on the Tranche 1 Transport Layer. This comes after Lockheed Martin placed and then withdrew a bid to acquire Terran Orbital over the last few months. Terran Orbital reported…

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