A Rocket Lab Electron rocket has successfully launched a radar imaging satellite for Synspective on December 21. This mission follows shortly after the Japanese company entered the Tokyo Stock Exchange Growth Market.
The Electron rocket lifted off from Pad B at Rocket Lab’s Launch Complex 1 in New Zealand at 9:17 a.m. Eastern Time. Initially delayed a few days due to weather conditions and a technical issue, the launch proceeded smoothly after a previous attempt on December 20 was scrubbed due to an unusual sensor reading.
The mission carried the StriX synthetic aperture radar (SAR) imaging satellite into sun-synchronous orbit approximately an hour after liftoff. As the sixth StriX satellite launched for Synspective, it continues the company’s pattern of using the reliable Electron rocket. Synspective and Rocket Lab have maintained a strong partnership, as evidenced by their contract for 10 more Electron launches scheduled from 2025 to 2027, marking Rocket Lab’s largest launch contract to date.
The recent launch marked Rocket Lab’s 16th Electron mission of the year, surpassing its previous record of 10. This includes 14 orbital missions and two suborbital launches of the Electron variant, HASTE, which took place in November and December from Wallops Island, Virginia. Although the company aimed for up to 22 launches as initially estimated earlier in the year, it adjusted its target to 15 to 18 launches due to customer-related delays.
Peter Beck, CEO of Rocket Lab, expressed optimism about increasing launch frequency in the coming year, emphasizing Electron’s strong position as a leading small rocket worldwide. He also highlighted the upcoming debut of Neutron in the medium launch market, which aims to expand Rocket Lab’s capabilities.
Following Synspective’s public offering on December 19, the company’s shares initially surged before settling at 635 yen, giving it a market valuation of approximately 69.5 billion yen. Synspective aims to use the funds from its IPO, along with a $44 million Series C funding round in June, to expand its radar satellite constellation to 30 satellites by the late 2020s. A new factory opened in September for mass production supports this ambitious plan.
Financial documents from Synspective indicate that while its sales are showing growth, profitability remains elusive for the company. The potential use of SpaceX rideshare missions for future satellite launches is under consideration, alongside their existing agreement with Rocket Lab.
Rocket Lab’s successful deployment of Synspective’s radar imaging satellite marks a significant achievement for both companies. As Synspective seeks to expand its satellite constellation, Rocket Lab’s consistent performance underlines its pivotal role in facilitating this growth. As both companies move forward, they demonstrate confidence in achieving further milestones in the rapidly evolving space market.
Source: Spacenews
