NOC - The Space Tug Market Is Heating Up and This Company Could Give Rocket Lab and Northrop Grumman a Run for Their Money
2023-08-21 08:08:00 ET
Firefly Aerospace is a very interesting space stock (or to be more precise, it will be an interesting space stock if it ever gets around to IPO'ing). One of the first batch of space start-ups to arise in the early 20-teens, Firefly's predecessor company went bankrupt in 2018, according to data from S&P Global Market Intelligence , only to have its assets bought, get incorporated into another space company, and then complete the circle by buying assets from an entirely different defunct space stock (Virgin Orbit) earlier this year!
Today, Firefly Aerospace is reborn as a $1 billion-plus space company with an increasingly bright future.
Talking over Firefly and its prospects with CEO Bill Weber back in June, we learned that, in addition to the three space rockets that Firefly is developing (two of them in partnership with Northrop Grumman (NYSE: NOC) ), and in addition to the Blue Ghost lander that Firefly will send to the moon mid-next year, Firefly also hopes to become a major player in the brand new industry of in-orbit satellite servicing and repair -- and in space tugs.
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The Space Tug Market Is Heating Up, and This Company Could Give Rocket Lab and Northrop Grumman a Run for Their Money