Finance

Northrop Grumman’s Space Systems segment posted double-digit growth in the second quarter of 2023, leading the company in sales growth, while also taking a $36 million charge from the HALO lunar contract with NASA. Space Systems reported $3.5 billion in revenue in the second quarter of 2023, up 17% from the same time last year. ...

Losses on several defense and space programs combined with a wider loss in the commercial airplane building segment led Boeing on Wednesday to report a net loss in income despite strong sales growth in the airplane manufacturing and services businesses. The Defense, Space & Security segment had a $527 million operating loss versus $71 million in...

Iridium Communications is unlikely to see direct-to-device activations this year, expecting the first activations of this new offering with Qualcomm in 2024, CEO Matt Desch said in a call with investors on Tuesday.  In January, Iridium and Qualcomm announced a partnership for new Qualcomm satellite-compatible chips that will enable messaging on Android cell phones via...

In-space transportation company Impulse Space, founded by SpaceX founding member Tom Mueller, raised $45 million in an oversubscribed Series A funding round, the company announced Monday. RTX Ventures, the venture capital arm of RTX, led the round, along with participation from Founders Fund, Lux Capital, Airbus Ventures and Space Capital. The company, founded in 2021,...

Today’s space startup landscape is arguably the most difficult and competitive it has been in several years. Space investors, now much more cautious following a string of big bank failures and SPAC burnout, are switching to a “quality over quantity” mindset and moving more money toward entrepreneurs with stable, long-term business models. Persuasive pitch decks...

As the youngest Millennials are nearing 30 and establishing themselves in their careers, Generation Z is entering the workforce. According to a recent study by the World Economic Forum, nearly one-third of the workforce will be Gen Z by 2025. Younger generations will shake up the global working world, and the space industry is no...

Violet Labs is a company to keep an eye on as it looks to bring the best of software capabilities to the satellite industry. Violet Labs aims to develop a full lifecycle software platform that is designed for hardware engineering. Its founder and CEO, Lucy Hoag, has an interesting background having worked at the likes...

The second quarter 2023 report from Generation Space by Seraphim found a “cautious return” to space investment after a decline in the second half of last year.  Generation Space reported $1.2 billion was invested in space in the second quarter of this year, compared to $1.4 billion in the first quarter. It tracked 300 deals...

Lockheed Martin’s Space segment saw a 12% increase in sales in the second quarter of 2023 compared to the same time last year, with higher sales on both national security and civil space programs.  Lockheed Martin released its second quarter financial results on July 18, with an overall 8% increase in sales driven by Space...

ETL Systems has appointed Alex Baldock as its new COO, the company announced July 17. Before joining ETL Systems, Baldock held senior leadership positions with Magellan Aerospace, Cobham Group and, most recently, Abaco Systems as the vice president of operations and UK Managing Director. It has been a busy 12 months for ETL Systems. Last...