Terran Orbital secures contract modification for satellite payloads from Lockheed Martin.
Global Banking News-October 26, 2023-Terran Orbital secures contract modification for satellite payloads from Lockheed Martin
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End-to-end satellite solutions company Terran Orbital Corporation (NYSE: LLAP) announced on Thursday that it has secured a USD7.7m contract modification from Lockheed Martin (NYSE:LMT), a renowned player in the aerospace and defense sectors.
The Engineering Change Proposal (ECP) expands upon an existing satellite design and manufacturing program, pushing the total contract value beyond USD52m. This modification, which integrates additional previously anticipated scope, follows a successful Critical Design Review (CDR) earlier this year.
In the past, Terran Orbital delivered 10 satellite buses to Lockheed Martin, supporting...
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