Rocket Lab Extends Synspective Deal by 19 Launches as Backlog Rises 73%
On March 21, Rocket Lab’s Electron rocket launched the eighth StriX SAR satellite to a 573km orbit, marking its 84th Electron mission and extending Synspective agreement by 19 dedicated launches through 2028. Its $1.85B backlog rose 73% year-over-year, underpinning margin expansion and growing commercial and defense demand.
1. Successful Eighth Synspective Launch
On March 21, Electron lifted off from Launch Complex 1 in New Zealand at 07:10 am to deploy the eighth StriX synthetic-aperture radar satellite into a 573km low Earth orbit, marking Rocket Lab’s 84th Electron launch and preserving a 100% success rate for Synspective missions.
2. Extended Partnership and Backlog Growth
Rocket Lab extended its dedicated launch agreement with Synspective by 19 additional missions through 2028, bringing total planned deployments to 27 and supporting a $1.85B launch services backlog, up 73% from a year ago.
3. Margin Expansion and Future Outlook
Rising launch cadence and custom fairing solutions have driven improvements in gross and adjusted EBITDA margins; Rocket Lab’s Neutron medium-lift vehicle remains in development to address growing constellation and defense launch demand.