BOCA RATON, Fla.--(BUSINESS WIRE)--Sep 11, 2023--
Terran Orbital (NYSE: LLAP ) today announced the official opening of a new 60,000-square-foot satellite manufacturing space adding to its existing manufacturing capability. With this previously announced addition, the total size of the manufacturing complex in Irvine has expanded to approximately 98,000 square feet.
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Image Credit: Terran Orbital
This new addition enables Terran Orbital to significantly boost satellite production, increasing it from an estimated 10 satellites per month to more than 20 per month. This expansion includes two advanced Printed Circuit Board Assembly (PCBA) lines, a state-of-the-art testing facility equipped with a large shaker table and a Thermal Vacuum (TVAC) chamber, a wire harness facility, and new automated module testing facilities.
“This new factory addition will significantly improve both the efficiency and capacity of our entire production system,” said Marc Bell, Co-Founder, Chairman, and CEO of Terran Orbital. Terran Orbital is currently manufacturing 42 satellite buses on behalf of Lockheed Martin for the U.S. Space Development Agency’s Tranche 1 Transport Layer Program, a mesh network in low Earth orbit that will support America’s military operations in addition to other satellites and constellations.
About Terran Orbital
Terran Orbital is a leading manufacturer of satellite products primarily serving the aerospace and defense industries. Terran Orbital provides end-to-end satellite solutions by combining satellite design, production, launch planning, mission operations, and on-orbit support to meet the needs of the most demanding military, civil, and commercial customers. Learn more at www.terranorbital.com.
Forward-Looking Statements
This press release contains “forward-looking statements” for purposes of the federal securities laws. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements under the US securities laws. All statements, other than statements of present or historical facts, contained in this press release, regarding our future operations, our ability to execute and the expectations, plans and objectives of management are forward-looking statements. Forward-looking statements are typically identified by such words as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook, “estimate,” “will,” “should,” “would” and “could” and other similar words and expressions. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by the forward-looking statements, including, but not limited to: our ability to scale-up our manufacturing processes and facilities; our ability to finance our operations; the ability to implement business plans, forecasts, and other expectations, and to identify and realize additional opportunities; anticipated timing, cost, financing and development of our satellite manufacturing capabilities; prospective performance and commercial opportunities and competitors; our expansion plans and opportunities; our ability to finance and invest in growth initiatives; the possibility that the COVID-19 pandemic, or another major disease, natural disaster, or threat to the physical security of our facilities or employees disrupts our business; supply chain disruptions, including delays, increased costs and supplier quality control challenges; and the other risks disclosed in our filings with the Securities and Exchange Commission (the “SEC”) from time to time, including in “Part I, Item 1A. Risk Factors” of our most recent Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC on March 23, 2023.
These forward-looking statements are based on management’s current expectations, plans, forecasts, assumptions, and beliefs concerning future developments and their potential effects. There can be no assurance that the future developments affecting us will be those that we have anticipated, and we may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements.
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CONTACT: Media Contact
Public Relations
pr@terranorbital.com
949-508-8484Investor Relations Contact
Jonathan Siegmann
ir@terranorbital.com
949-202-8476
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA FLORIDA
INDUSTRY KEYWORD: TECHNOLOGY AEROSPACE MANUFACTURING SATELLITE
SOURCE: Terran Orbital
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PUB: 09/11/2023 06:30 AM/DISC: 09/11/2023 06:30 AM
http://www.businesswire.com/news/home/20230911405853/en
