Rocket Lab Wins Space Force Contract -- at Twice the Usual Price
Five years ago, Rocket Lab USA (NASDAQ: RKLB) made a bold move and changed the course of the company.
Since setting up shop in 2017, the tiny rocket maker had launched a total of just 10 rockets -- fewer than three per year -- out of its Launch Complex 1 (LC-1) in New Zealand. LC-1 was hardly working at full capacity. And yet, Rocket Lab had high hopes to grow its business, Launch more frequently, and one day perhaps even challenge SpaceX for dominance in space launch. First, however, Rocket Lab really needed to get closer to one of its most lucrative customers: the U.S. government.
And so Rocket Lab decided in 2019 to invest years of work and millions of dollars to develop a Launch Complex 2 (LC-2) in the United States near the NASA facility on Wallops Island in Virginia.
Source Fool.com
