Sierra Space, the commercial space company known for its innovative spaceplane Dream Chaser, is expanding its satellite offerings with the introduction of its new Eclipse line of satellite buses. The company’s CEO, Tom Vice, revealed the new product ahead of the highly anticipated solar eclipse. The Eclipse line is designed to serve a wide range of missions in various orbits, from low Earth to cis-lunar.
Sierra Space, which was spun out of defense contractor Sierra Nevada Corporation three years ago, is valued at $5.3 billion as of September. Led by billionaire husband and wife team Fatih and Eren Ozmen, the company has a three-decade spaceflight heritage and a diverse portfolio that includes space transportation, space habitation, propulsion, and satellites.
One of Sierra Space’s most notable projects is Dream Chaser, a reusable spaceplane that will run cargo resupply missions to the International Space Station (ISS) and eventually carry humans to and from orbit. The company is confident that Dream Chaser will make its first flight in the fourth quarter of this year. It has already passed the first phase of environmental testing and is dependent on NASA’s manifest for cargo resupply missions to the ISS.
In addition to Dream Chaser, Sierra Space is also working on a commercial space station called Orbital Reef in collaboration with Jeff Bezos’ Blue Origin. The company recently landed a high-profile $740 million Pentagon contract to develop a constellation of missile tracking satellites for the U.S.
The introduction of the Eclipse line of satellite buses marks Sierra Space’s entry into the spacecraft subsystem business. The company believes that microgravity research in low Earth orbit holds immense potential to disrupt industries on Earth, particularly in the fields of stem cells, oncology, vaccines, and industrial glass. These markets are estimated to be worth $900 billion in 2022 and expected to reach $3.7 trillion by 2038.
Sierra Space’s immediate focus is on finalizing a Series B funding round to raise capital for potential acquisitions, getting Dream Chaser flying, and strengthening its financial position ahead of a possible IPO as soon as next year. The company’s sales are projected to double in 2024, and its backlog currently stands at over $4 billion. Sierra Space also plans to double its workforce this year after significant layoffs in the past.
Although offers have been received to go public via a special purpose acquisition company (SPAC), Sierra Space intends to pursue a traditional IPO process. The company aims to become a catalyst for the most profound industrial revolution in human history.
Sierra Space’s expansion into satellite offerings with the introduction of the Eclipse line demonstrates its commitment to innovation and growth in the commercial space industry. With the highly anticipated launch of Dream Chaser and potential IPO on the horizon, Sierra Space is poised to make significant strides in the space sector and revolutionize industries on Earth through microgravity research.
