LONG BEACH, Calif. - Rocket Lab USA, Inc. (NASDAQ: RKLB), a prominent provider of launch services and space systems, announced the commencement of an intensive test campaign for its newly assembled Archimedes engine, a 3D printed, reusable rocket engine designed for the company's Neutron medium lift launch vehicle. The testing phase, which includes a series of engine system activations leading to a hot-fire test, is taking place at NASA's Stennis Space Center in Mississippi.
The Archimedes engine, notable for its unique combination of thrust class, engine cycle, and methane-liquid oxygen propellant, is engineered to withstand multiple launches, with a goal of at least 20 reuses per engine. Each Archimedes engine is expected to produce 165,000 pounds of force, contributing to a total thrust of 1.45 million pounds for Neutron's first stage.
Rocket Lab's test campaign will put the engine through a range of tests to assess its start-up, steady-state, and shut-down performance. These evaluations are crucial for Neutron's inaugural launch, now scheduled for no earlier than mid-2025.
Peter Beck, Rocket Lab founder and CEO, emphasized the significance of this phase, stating that the engine on the test stand is close to the final flight design. This mature approach aims to ensure a rapid development and qualification process, which contrasts with the common industry practice of iterative testing and redesign. Beck noted that this strategy might delay the first launch but is expected to facilitate a swift transition to frequent flights post-launch.
In parallel with the test campaign, production of subsequent Archimedes engines continues, with critical components already manufactured and undergoing analysis. Rocket Lab's Long Beach facility houses the production line and supports long-term manufacturing of the engine.
Recent progress on Neutron's development includes the completion of carbon composite structures for various stages and the fairing panels, as well as infrastructure development at the dedicated launch site in Wallops Island, Virginia.
The Archimedes engine is a central element of Rocket Lab's Neutron rocket, designed to cater to the market's demand for frequent and reliable launches. With full-rate production planned in Long Beach, the engine is poised to play a significant role in Rocket Lab's future launch capabilities.
This news report is based on a press release statement from Rocket Lab USA, Inc.
InvestingPro Insights
As Rocket Lab USA, Inc. (NASDAQ: RKLB) advances with its Archimedes engine testing, investors and industry analysts are closely monitoring the company's financial health and market performance. According to real-time data from InvestingPro, Rocket Lab currently holds a market capitalization of approximately $2 billion USD. Despite the company's focus on innovation and growth, as reflected in the recent developments of the Archimedes engine, Rocket Lab is not profitable over the last twelve months, with a negative P/E ratio of -10.73. This indicates that the company is yet to turn its ambitious technological advancements into financial profitability.
InvestingPro Tips suggest that analysts are optimistic about Rocket Lab's sales growth in the current year, which may be fueled by the company's strategic moves in the space launch market. Additionally, Rocket Lab's liquid assets surpass its short-term obligations, providing a cushion for ongoing operations and development projects like the Neutron rocket. However, analysts are not expecting the company to be profitable this year, which aligns with the company's significant investment in technology and infrastructure.
For those considering a deeper dive into Rocket Lab's financial metrics and future prospects, InvestingPro offers additional insights, including 6 more InvestingPro Tips for RKLB. To access these tips and more detailed analytics, investors can visit InvestingPro and take advantage of the promotional offer using the coupon code PRONEWS24 for an extra 10% off a yearly or biyearly Pro and Pro+ subscription.
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