LOCKHEED MARTIN WILL BUY UP TO 25 ROCKET LAUNCHES FROM FIREFLY AEROSPACE

Lockheed Martin has entered a purchase agreement with Firefly Aerospace for up to 25 launches on its Alpha rocket by 2029, the U.S. defense contractor said on Wednesday.

Texas-based Firefly makes small and medium launch vehicles for commercial launches to orbit. Its small-launch vehicle, Alpha, will fly Lockheed's spacecraft and payload into low-Earth orbit from its facilities on west and east coasts, Lockheed said. The companies did not disclose the financial details of the deal. The lower-cost launch vehicles would help reduce risk for its self-funded technology demonstration missions.

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