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Terran Orbital

California maker of satellite buses and modular spacecraft for military, civil and commercial customers. Lockheed Martin bought it in 2024, and it still sells spacecraft to outside customers. (1 product in the atlas)

Products, by altitude

Low Earth orbit · 160–2,000 km

  • In development

    Nebula bus

    Modular satellite body carrying a quantum-encryption test payload

Known rounds

DateRoundAmountLed by
Aug 2024Debt (bridge notes)$30M—⁠1
Sep 2023Follow-on offering$32.5M—⁠2
May 2023Registered direct offering$37.1M—⁠3
Oct 2022Convertible notes$100MLockheed Martin⁠4
Mar 2022SPAC merger PIPE$50.8M—⁠5
Mar 2022Debt$119MFrancisco Partners⁠5

Milestones

  • Jul 2026 Terran Orbital was selected to provide spacecraft buses, mission operations and launch integration for NASA's CAPSTONE 02 lunar mission led by Advanced Space, targeting a 2027 launch. Company statement⁠6
  • Oct 2024 Lockheed Martin completed its acquisition of Terran Orbital and its subsidiary Tyvak International; it now operates as Terran Orbital, a Lockheed Martin Company, and remains a merchant supplier. Company statement⁠7

Sources

  1. SEC EDGAR (Terran Orbital 8-K)Aug 21, 2024
  2. SEC EDGAR (Terran Orbital 8-K)Sep 20, 2023
  3. SEC EDGAR (Terran Orbital 8-K)May 30, 2023
  4. SEC EDGAR (Terran Orbital 8-K)Oct 31, 2022
  5. SEC EDGAR (Terran Orbital 8-K)Mar 28, 2022
  6. Terran Orbital press releaseJul 28, 2026
  7. Intelligence Community NewsOct 31, 2024

Updated Oct 22, 2026 · How we source facts · Suggest a correction