Investing.com -- Northrop Grumman Corp (NYSE: NOC )., a global aerospace and defense technology company, has invested $50 million in Firefly Aerospace Inc., a Texas-based startup. The investment, reported by Bloomberg, is aimed at advancing the development of the Eclipse, a rocket that the two companies have been co-developing since 2022.
The Eclipse rocket is a collaborative effort, combining technologies from Northrop Grumman’s Antares rocket and Firefly’s Alpha rocket. The goal is to create a rocket that can compete with SpaceX, Elon Musk’s aerospace manufacturer and space transportation company, for certain US Department of Defense missions.
Jason Kim, CEO of Firefly, has expressed optimism about the future demand for such technology. He noted that the new rocket would address a gap in the industry as more operators are seeking access to orbit. Kim anticipates a high demand for this kind of service in 2026 and beyond.
In addition to the Eclipse project, Northrop Grumman and Firefly are also considering the potential of the Golden Dome, a proposed missile shield by President Donald Trump. This defense system would utilize a network of space-based interceptors. Wendy Williams, Northrop Grumman’s vice president and general manager for launch and missile defense systems, sees potential opportunities in this project, stating that it could further open up the market.
The financial details of the Northrop Grumman and Firefly deal, including the valuation of Firefly, were not disclosed. However, a $175 million investment round in November valued the rocket and spacecraft builder at more than $2 billion.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.