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Starfighters Space Closes $40M Reg A+ IPO, Starts Trading on NYSE

Starfighters Space closed a $40 million Reg A+ IPO and begins trading on NYSE American as it expands its supersonic aircraft fleet and StarLaunch system.

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This article is based on an official press release from Starfighters Space.

Starfighters Space Closes $40 Million Reg A+ IPO, Begins Trading on NYSE American

Starfighters Space, Inc., a commercial space company known for operating a fleet of supersonic F-104 Starfighter Military-Aircraft, has officially closed its Regulation A+ Initial Public Offering (IPO). According to the company’s announcement, the offering generated approximately $40 million in gross proceeds. Following the close, the company’s common stock is scheduled to commence trading on the NYSE American exchange today, December 18, 2025, under the ticker symbol FJET.

The capital raise marks a significant transition for the Florida-based company, which operates out of the Kennedy Space Center. Starfighters Space intends to utilize the funds to scale its operations, specifically focusing on the development of its “StarLaunch” air-launch system and the expansion of its aircraft fleet. The company aims to leverage these assets to serve both defense and commercial markets through hypersonic testing and satellite launch services.

Offering Details and Market Debut

The Regulation A+ offering, often referred to as a “Mini-IPO,” allowed Starfighters Space to raise capital from both accredited and retail investors. According to the offering details released by the company, approximately 11.1 million shares were sold at an offering price of $3.59 per share. The offering was hosted on the investment platform Equifund.com, with Digital Offering, LLC acting as the lead selling agent.

In a statement regarding the milestone, Starfighters Space leadership emphasized the strategic importance of the public listing.

“The completion of Starfighter’s successful IPO and related fund raise positions us to unlock significant opportunities ahead as we enter the next stage of our growth… We expect to use the funds… to further drive our research and development efforts, including the development of our STARLAUNCH programs.”

— Rick Svetkoff, Founder and CEO of Starfighters Space

Strategic Expansion: From F-104s to F-4 Phantoms

Starfighters Space currently operates the world’s only commercial fleet of flight-ready Lockheed F-104 Starfighters. These Cold War-era interceptors are capable of sustaining speeds above Mach 2, making them valuable assets for testing scramjets, sensors, and thermal protection systems for defense contractors and partners like GE Aerospace.

However, the newly raised capital is earmarked for significant fleet expansion. According to the company’s roadmap, Starfighters Space is in the process of acquiring 12 McDonnell Douglas F-4 Phantom II aircraft. These heavier fighters are intended to support the “StarLaunch II” program, providing the payload capacity necessary to carry larger rockets and more complex hypersonic test vehicles than the F-104 can accommodate.

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The StarLaunch Concept

The company’s business model relies on two primary pillars: hypersonic research and commercial air-launch. The “StarLaunch” system utilizes the aircraft as a reusable first-stage booster. By carrying a rocket to an altitude of approximately 45,000 feet before release, the company aims to launch small satellites into Low Earth Orbit (LEO) with higher frequency and location flexibility than traditional vertical launch pads.

AirPro News Analysis

The successful closing of a $40 million Regulation A+ IPO is a notable achievement in a capital-intensive sector that has seen high-profile struggles recently. The air-launch market has faced skepticism following the collapse of Virgin Orbit in 2023. However, Starfighters Space differentiates itself through its choice of platform. Unlike Virgin Orbit, which utilized a modified Boeing 747, Starfighters employs tactical supersonic jets.

This approach offers distinct advantages for the hypersonic testing market, a sector currently experiencing high demand from the U.S. Department of Defense due to a shortage of high-speed test platforms. While the commercial satellite launch market remains crowded with competitors like SpaceX, the ability of Starfighters to offer supersonic testbeds for scramjet development provides a diversified revenue stream that pure-play launch providers lack. The acquisition of F-4 Phantoms will be a critical execution test for the company as it moves from a niche operator to a publicly traded aerospace firm.

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Sources: Starfighters Space Press Release

Photo Credit: Starfighters Space

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Space & Satellites

Lockheed Martin Awarded $1.1B Contract for SDA Tranche 3 Satellites

Lockheed Martin secured a $1.1B contract to build 18 Tranche 3 satellites for the Space Development Agency’s missile tracking and defense network.

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This article is based on an official press release from Lockheed Martin.

Lockheed Martin Secures $1.1 Billion Contract for SDA Tranche 3 Tracking Layer

Lockheed Martin (NYSE: LMT) has been awarded a major contract with a potential value of approximately $1.1 billion by the Space-Agencies (SDA). Announced on December 19, 2025, the agreement tasks the aerospace giant with producing 18 space vehicles for the Tranche 3 Tracking Layer (TRKT3) constellation. These satellites are a critical component of the Proliferated Warfighter Space Architecture (PWSA), a network designed to detect, track, and target advanced missile threats, including hypersonic systems.

This award represents a significant portion of a broader $3.5 billion investment by the SDA, which simultaneously issued Contracts to Rocket Lab, Northrop Grumman, and L3Harris. Together, these companies will construct a combined total of 72 satellites. According to the announcement, Lockheed Martin’s specific allotment of satellites is scheduled for launch in Fiscal Year 2029.

Contract Specifications and Deliverables

Under the terms of the agreement, Lockheed Martin will deliver 18 missile warning, tracking, and defense space vehicles. Unlike traditional legacy programs that often take a decade to field, the SDA operates on a rapid “spiral development” model, fielding new generations, or “tranches”, every two years. Tranche 3 is particularly significant as it represents the “Sustained Capability” generation, designed to replenish and replace earlier satellites while introducing advanced fire-control capabilities.

The satellites will be manufactured at Lockheed Martin’s SmallSat Processing & Delivery Center in Colorado. The company confirmed that Terran Orbital will continue to serve as a key supplier, providing the satellite buses. This continuation of the supply chain partnership aims to maintain production stability across the various tranches.

Advanced Fire-Control Capabilities

A defining feature of the Tranche 3 Tracking Layer is the inclusion of “fire-control quality” tracking. While previous iterations focused primarily on warning and tracking, half of the payloads in this new constellation are designated for missile defense. This means the satellites can generate data precise enough to guide an interceptor to destroy a threat, rather than simply monitoring its trajectory.

“The Tracking Layer of Tranche 3… will significantly increase the coverage and accuracy needed to close kill chains against advanced adversary threats. The constellation will include a mix of missile warning and missile tracking, with half the constellation’s payloads supporting advanced missile defense missions.”

Gurpartap “GP” Sandhoo, Acting Director, Space Development Agency

Strategic Context and Industry Landscape

With this latest award, Lockheed Martin’s total backlog with the SDA has grown to 124 space vehicles across multiple tranches. This reinforces the company’s position as a dominant player in the rapid-acquisition space sector. The SDA’s strategy involves splitting awards among multiple vendors to foster competition and reduce industrial base risk.

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The $3.5 billion total funding for Tranche 3 was distributed as follows:

  • Lockheed Martin: ~$1.1 Billion (18 satellites)
  • L3Harris: ~$843 Million (18 satellites)
  • Rocket Lab: ~$805 Million (18 satellites)
  • Northrop Grumman: ~$784 Million (18 satellites)

Lockheed Martin and Rocket Lab received higher contract values, which industry analysts attribute to the complexity of the defense-specific payloads included in their respective lots.

“Lockheed Martin’s ongoing investments and evolving practices demonstrate our commitment to supporting the SDA’s Proliferated Warfighter Space Architecture. These innovative approaches position Lockheed Martin to meet the warfighter’s urgent need for a proliferated missile defense constellation.”

Joe Rickers, Vice President of Transport, Tracking and Warning, Lockheed Martin

AirPro News Analysis

The awarding of the Tranche 3 contracts highlights a pivotal shift in U.S. defense strategy toward “proliferated” architectures. By deploying hundreds of smaller, cheaper satellites rather than a handful of large, expensive targets (“Big Juicy Targets”), the U.S. Space Force aims to increase resilience against anti-satellite weapons. If an adversary destroys one node in a mesh network of hundreds, the system remains operational.

Furthermore, the explicit mention of “fire-control quality tracks” signals that the PWSA is moving from a passive observation role to an active engagement support role. This is a direct response to the development of hypersonic glide vehicles by peer adversaries, which fly too low for traditional ground-based Radar-Systems to track effectively. The reliance on Terran Orbital for satellite buses also underscores the critical nature of supply chain continuity; as production rates increase to meet the two-year launch cycles, prime contractors are prioritizing established supplier relationships to minimize delay risks.

Frequently Asked Questions

What is the total value of the Lockheed Martin contract?
The contract has a potential value of approximately $1.1 billion.
When will the Tranche 3 satellites launch?
The satellites are scheduled for launch in Fiscal Year 2029.
What is the difference between Tranche 3 and previous tranches?
Tranche 3 is the “Sustained Capability” generation, designed to replenish earlier satellites. It features enhanced sensitivity for hypersonic detection and fire-control quality tracking capabilities.
Where will the satellites be built?
They will be assembled at Lockheed Martin’s SmallSat Processing & Delivery Center in Colorado.

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Photo Credit: Lockheed Martin

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Space & Satellites

Venturi Space Completes Driving Tests for MONA-LUNA Lunar Rover

Venturi Space successfully tests MONA-LUNA lunar rover at ESA’s LUNA facility, validating key mobility and wheel tech for a 2030 Moon mission.

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This article is based on an official press release from Venturi Space.

Venturi Space Successfully Tests “MONA-LUNA” Rover at ESA’s New Lunar Facility

Venturi Space has announced the successful completion of the first driving tests for its MONA-LUNA lunar rover. Conducted at the European Space Agency’s (ESA) newly inaugurated LUNA analog facility in Cologne, Germany, these tests mark a pivotal step in Europe’s roadmap toward autonomous lunar exploration. The rover, designed to be “100% European,” demonstrated its capability to navigate loose regolith and steep inclines, validating key technologies intended for a targeted 2030 mission to the Moon’s South Pole.

According to the company’s announcement, the tests focused on mobility, obstacle traversal, and the durability of onboard electronic systems under simulated lunar conditions. The successful campaign confirms the viability of Venturi’s proprietary wheel technology and sets the stage for further development leading up to integration with the European Argonaut lander.

Validating Mobility in a Simulated Lunar Environment

The testing campaign took place at the LUNA facility, a joint operation by ESA and the German Aerospace Center (DLR) that opened in September 2024. The facility features a 700-square-meter hall filled with 900 tonnes of regolith simulant, volcanic powder derived from the Eifel region, designed to mimic the surface of the Moon. The environment also replicates the unique lighting conditions of the lunar South Pole, providing a high-fidelity testing ground for robotic systems.

Venturi Space reports that the MONA-LUNA rover exceeded initial performance targets during these Test-Flights. Specifically, the vehicle successfully climbed slopes of up to 33 degrees and navigated large rocky obstacles without losing traction. A primary objective was to verify that the rover would not sink into the loose soil, a common hazard in lunar exploration.

Performance of Hyper-Deformable Wheels

A critical component validated during these tests was the rover’s “hyper-deformable” wheel technology. Invented by Venturi, these wheels are designed to absorb shocks and maximize the contact patch with the ground, providing necessary grip on soft, unstable surfaces. Dr. Antonio Delfino, Director of Space Affairs at Venturi Space, emphasized the importance of this validation.

“The main objective… was to validate the rover’s mobility in conditions representative of a lunar surface, with a particular focus on the interaction between its hyper-deformable wheels and a highly realistic regolith simulant.”

Dr. Antonio Delfino, Venturi Space

Technical Specifications and Mission Profile

The MONA-LUNA is engineered to serve as a logistics and exploration vehicle capable of surviving the harsh lunar environment. According to technical details released by Venturi Space, the rover weighs approximately 750 kg, with the capacity to extend to 1,000 kg depending on specific mission payloads. It is capable of speeds up to 20 km/h (approximately 12.4 mph).

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The vehicle is electrically powered, utilizing solar panels and three high-performance batteries. Crucially, the rover is built to endure the extreme thermal variations of the lunar cycle, with a stated operating range of -240°C to +110°C. It is equipped with a robotic arm for scientific tasks and is designed to carry cargo or, in emergency scenarios, an astronaut.

AirPro News Analysis: The Push for European Autonomy

The development of MONA-LUNA represents a strategic shift toward European independence in space logistics. Currently, much of the global lunar infrastructure relies on non-European Partnerships. By developing a sovereign rover capable of launching on an Ariane 6 rocket and landing via the European Argonaut lander (developed by Thales Alenia Space), Europe is securing its own access to the lunar surface.

This autonomy is further supported by Venturi’s industrial expansion. The company plans to open a new 10,000-square-meter facility in Toulouse, France, by 2028. This factory will employ approximately 150 engineers dedicated to the Manufacturing of the MONA-LUNA, signaling a long-term industrial commitment beyond the initial prototype phase.

Future Roadmap: From FLIP to MONA-LUNA

While the MONA-LUNA is targeted for a 2030 launch, Venturi Space has outlined an incremental approach to technology validation. Before the full-sized rover reaches the Moon, a smaller “sister” rover named FLIP (FLEX Lunar Innovation Platform) is scheduled to launch in 2026.

Developed in partnership with the U.S. company Venturi Astrolab, FLIP will fly on a commercial mission with Astrobotic. This earlier mission will serve as a “pathfinder,” testing the same batteries and wheel technologies in the actual lunar environment four years before the MONA-LUNA mission. Gildo Pastor, President of Venturi Space, expressed confidence in the current progress following the Cologne tests.

“Seeing MONA LUNA operate on the legendary LUNA site is a profound source of pride… We know we have only completed 1% of the journey that, I hope, will take us to the Moon.”

Gildo Pastor, President of Venturi Space

The successful completion of these driving tests at the LUNA facility confirms that the foundational mobility technologies required for Europe’s 2030 lunar ambitions are now operational in a relevant environment.

Sources

Venturi Space

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Photo Credit: Venturi Space

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Space & Satellites

Skyroot Aerospace Sets Launch Window for Vikram-1 Orbital Rocket

Skyroot Aerospace prepares for Vikram-1’s maiden orbital launch in early 2026 from Sriharikota, focusing on tech validation with reduced payload.

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This article summarizes reporting by India Today and Sibu Tripathi.

Skyroot Aerospace, India’s pioneering private space technology firm, has commenced final preparations for the maiden orbital launch of its Vikram-1 rocket. According to reporting by India Today, the launch vehicle has been transported to the Satish Dhawan Space Centre (SDSC) in Sriharikota, with the company targeting a Launch window within the next two months.

This mission marks a critical transition for the Hyderabad-based company, moving from suborbital demonstration to full orbital capability. While the primary goal is reaching Low Earth Orbit (LEO), company leadership has emphasized that the inaugural flight is primarily a validation exercise for their proprietary technology.

Launch Timeline and Status

As of mid-December 2025, the first stage of the Vikram-1 rocket has arrived at the spaceport in Sriharikota. India Today reports that integration and assembly operations are currently underway at the launch site. Skyroot co-founder Bharath Daka indicated that all subsystems are expected to be ready within approximately one month, followed by a final round of validation checks.

Based on this timeline, the launch is projected to occur in early 2026 (January or February). This schedule aligns with the company’s rapid development pace following the inauguration of their new Manufacturing facility, the Infinity Campus, in November 2025.

Managing Expectations for the Maiden Flight

Maiden flights of new orbital class rockets carry significant risk, a reality Skyroot leadership is openly acknowledging. To mitigate potential losses, the rocket will carry a reduced payload. India Today notes that the vehicle will fly with approximately 25% of its maximum payload capacity to de-risk the mission.

Defining Success

While orbital insertion is the ultimate objective, the company has set incremental benchmarks for success. Speaking to India Today, Bharath Daka emphasized that surviving the initial phases of flight would be a major technical victory.

“We will consider the mission a meaningful achievement even if the rocket simply clears the launch tower,” Daka told India Today.

In addition to clearing the tower, the engineering team is focused on the vehicle surviving “Max-Q”, the point of maximum aerodynamic pressure, and successfully executing stage separation. These milestones provide critical data for future iterations, regardless of whether the final orbit is achieved on the first attempt.

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Technical Context: The Vikram-1 Vehicle

The Vikram-1 represents a significant leap in complexity compared to its predecessor, the Vikram-S, which completed a suborbital test flight in November 2022. Unlike the single-stage suborbital demonstrator, Vikram-1 is a multi-stage launch vehicle designed for the commercial small satellite market.

  • Structure: The rocket features an all-carbon-composite body, designed to optimize the strength-to-weight ratio.
  • Propulsion: It utilizes three solid-fuel stages (powered by Kalam series motors) and a liquid-propulsion upper stage (Raman engine) for precise orbital insertion.
  • Capacity: The vehicle is capable of delivering approximately 300 kg to 480 kg to Low Earth Orbit.

AirPro News Analysis

The upcoming launch of Vikram-1 is a bellwether event for the Indian private space sector. Following the government’s liberalization of the space industry, Skyroot’s progress serves as a test case for India’s ability to foster a commercial ecosystem parallel to the state-run ISRO. If successful, Vikram-1 will position India as a competitive player in the global small satellite launch market, challenging established entities like Rocket Lab. The decision to lower public expectations by focusing on “clearing the tower” is a prudent communication Strategy, common among launch providers facing the high statistical failure rates of debut flights.

Frequently Asked Questions

When will Vikram-1 launch?
According to current reports, the launch is targeted for early 2026, likely within January or February.

Where will the launch take place?
The mission will launch from the Satish Dhawan Space Centre (SDSC) in Sriharikota, India.

What is the primary payload?
Specific payload details have not been fully disclosed, but the rocket will carry a reduced load (approx. 25% capacity) to minimize risk during this test flight.

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Photo Credit: Skyroot Aerospace

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