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What is the Backlog of Rocket Lab Launch?

Published in Rocket Lab Backlog 2 mins read

The exact backlog for Rocket Lab's launch services currently stands at $325.5 million. This figure represents the portion of the company's total backlog specifically allocated to its launch activities.

Rocket Lab, a leading aerospace manufacturer and launch service provider, maintains a substantial backlog that reflects its future revenue and operational commitments. This backlog is a key indicator of the company's sustained growth and future performance in both its launch and space systems divisions.

Rocket Lab's Total Backlog Overview

As of the latest reports, Rocket Lab's total company backlog has reached an impressive $1.05 billion. This significant amount demonstrates robust demand for their services and products, marking an 80% year-over-year growth.

The total backlog is strategically divided across the company's primary business segments:

  • Space Systems: This segment encompasses the design and manufacture of satellites, spacecraft components, and other on-orbit solutions.
  • Launch Services: This segment focuses on providing dedicated and rideshare launch capabilities using its Electron rocket and the upcoming Neutron rocket.

Breakdown of the Backlog

To understand the specific launch backlog, it's essential to analyze the allocation across these segments:

Category Amount (USD) Percentage of Total Backlog Notes
Total Backlog $1.05 billion 100% Represents 80% year-over-year growth.
Space Systems $724.5 million Approximately 69% Covers satellite manufacturing & components.
Launch Services $325.5 million Approximately 31% Dedicated to launch contracts.

Calculations:

  • Space Systems Backlog = 69% of $1.05 billion = 0.69 * $1,050,000,000 = $724,500,000
  • Launch Services Backlog = Total Backlog - Space Systems Backlog = $1,050,000,000 - $724,500,000 = $325,500,000

Key Insights into Rocket Lab's Launch Backlog

  • New Contracts: The launch backlog was recently bolstered by the signing of $55 million in new launch contracts during the third quarter. These contracts signify continued customer confidence in Rocket Lab's reliable launch solutions and its expanding capabilities.
  • Revenue Recognition: Approximately half of Rocket Lab's total backlog, which would include a significant portion of the launch backlog, is expected to be recognized as revenue within the next 12 months. This indicates a strong short-to-medium term revenue pipeline for the company.
  • Strategic Growth: The substantial launch backlog supports the continued development and operations of the Electron rocket, which has a proven track record, and provides a solid foundation for the future maiden flight and subsequent missions of the much larger Neutron rocket. The Neutron is designed for launching constellations and larger payloads, promising to expand Rocket Lab's market reach significantly.

The robust launch backlog underscores Rocket Lab's position as a key player in the commercial space industry, driven by consistent mission success and strategic expansion into new launch capabilities.