Terran Orbital Opens 60,000 SF Factory Addition in Irvine, CA (Image Credit: Terran Orbital Corporation)
BOCA RATON, Fla., Sept. 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.
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, and Terran Orbital’s officers and representatives may from time to time make other public written and verbal announcements that contain, “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 contained in the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. All statements, other than statements of present or historical facts, contained in this press release, regarding our business strategy, future operations, our facilities, our production capacity and capabilities, our new products and product lines, including the expected available options and specifications for such products and the timing for the availability to purchase such products, the expected purpose, timing, results and benefits of the Responsive Space Initiative, including the length of time to deliver satellite buses upon completion of the Responsive Space Initiative, or expectations regarding our customers’ needs and markets in which we operate or plan to operate, and the estimates, plans and objectives of management are forward-looking statements. Forward-looking statements are typically identified by such words as “plan,” “believe,” “expect,” “anticipate,” “intend,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “will,” “should,” “would” and “could” and other similar words and expressions. These forward-looking statements involve a number of risks, uncertainties (many of which are beyond our control), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by the forward-looking statements contained in this press release, including, but not limited to: our ability to successfully implement the Responsive Space Initiative; our ability to scale-up our manufacturing processes and facilities in order to meet demand; our ability to implement business plans, forecasts, and other expectations; our ability to finance our operations, research and development activities and capital expenditures; the possibility that we may be adversely affected by other economic, business, and/or competitive factors; 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 under the heading “Risk Factors” in our Annual Report on Form 10-K 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. New risk factors and uncertainties may emerge from time to time, and it is not possible to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. You should read this press release with the understanding that our actual future results may be materially different from the expectations disclosed in the forward-looking statements we make. All forward-looking statements we make are qualified in their entirety by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release, and we do not assume any obligation to, and we do not intend to, update any forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as required by law.
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