{"frequency":"weekly","subject":"Weekly Space Intelligence: FCC “Space Month,” Iceye’s $2.5B Round, and EchoStar’s $21B Reset","introduction":null,"banner":"https://research.33fg.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MTU0OCwicHVyIjoiYmxvYl9pZCJ9fQ==--9e2dfbd00bf4a21aa632da4611ed4f0a130b6fbd/Copy%20of%20Copy%20of%20Copy%20of%20Copy%20of%20Copy%20of%20M33_NewsletterBanner.png","posts":[{"title":"EchoStar’s Liquidity Lift-Off: $21B Net Cash and a Multi-Year SpaceX Upside","slug":"echostar-s-liquidity-lift-off-21b-net-cash-and-a-multi-year-spacex-upside","visibility":"restricted","type":"analysis","summary":"Executive Summary• EchoStar converts spectrum into liquidity. Two signed deals move 50 MHz to ATT and 50 MHz to SpaceX, unlocking $31.2 B in proceeds, $11.4 B in debt paydown, $24.1 B projected cash, and an $8.5 B SpaceX equity stake, plus ~$2 B in interest relief.• From leveraged to liquid. Post-transactions, EchoStar’s remaining debt sits near $13 B (Dish DBS $11.9 B + Hughes $1.5 B). If the rumored $10 B Verizon AWS-3 sale closes, EchoStar flips to ~$21 B net cash, one of the strongest balance sheets in U.S. telecom.• Strategic trade-off. The company swaps MHz optionality for flexibility, monetizing spectrum while deepening long-term partnerships with ATT and SpaceX.• ATT win: gains critical low-band (600 MHz) and mid-band (3.45 GHz) holdings, tightening 5G coverage and capacity.• SpaceX win: gains control of mobile-grade AWS-4 + H-Block spectrum, securing autonomy for Direct-to-Cell (D2C) expansion.• EchoStar pivot: emerges as a capital-light hybrid mobile operator, focusing on Boost, Sling, and Hughes, while leveraging ATT’s terrestrial and Starlink’s orbital infrastructure.• Optionality ahead. With cash and connectivity leverage, EchoStar can consolidate spectrum-heavy, debt-strained operators or integrate niche connectivity assets into its ecosystem.• The Icing on the Cake – SpaceX Upside. • EchoStar becomes the only liquid proxy for SpaceX exposure on public markets. • At a $2 T SpaceX valuation by 2030, its $8.5 B stake (≈ 40 M shares) could be worth ~$43 B. • Combined with $21 B net cash, this implies ~$64 B equity value (~$228/share), a 24 % annualized IRR even if all other businesses went to zero.EchoStar has turned MHz → money, debt → liquidity, and spectrum risk → SpaceX upside, positioning itself as both a telecom consolidator and the market’s only gateway to SpaceX’s growth story.","card_description":"\u003cdiv\u003eEchoStar trades spectrum for cash, equity, and time; transforming into a hybrid-mobile operator, soon with ~$20B+ in net cash, and the market’s only liquid SpaceX exposure, granting an estimated 24% minimum IRR through 2030\u003c/div\u003e","tags":["EchoStar","SpaceX"],"url":"https://research.33fg.com/analysis/echostar-s-liquidity-lift-off-21b-net-cash-and-a-multi-year-spacex-upside","published_at":"Oct 08, 2025","thumbnail":"https://research.33fg.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MTU0NywicHVyIjoiYmxvYl9pZCJ9fQ==--34d76f07af79973d78e188d0f532c7999628cf22/Generated%20Image%20October%2008,%202025%20-%201_10PM.png"}],"charts":[],"news":[{"title":"Iceye Eyes New Funding Round Valued at $2.5B Amid Security Tailwinds","summary":null,"tags":["Europe","Earth Observation"],"url":"https://research.33fg.com/news/iceye-eyes-new-funding-round-valued-at-2-5b-amid-security-tailwinds","published_at":"Oct 08, 2025","source":"X","thumbnail":"https://research.33fg.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MTUyNSwicHVyIjoiYmxvYl9pZCJ9fQ==--df727090d627fa84ca328fdc53cce6297f774892/iceye.jpeg","commentary":"\u003cdiv\u003eEuropean radar imaging startup \u003cstrong\u003eIceye\u003c/strong\u003e is reportedly considering a fresh funding round at a \u003cstrong\u003e$2.5 billion valuation\u003c/strong\u003e, reflecting elevated demand from defense customers across Europe and the Middle East. The firm has launched \u003cstrong\u003e54 satellites\u003c/strong\u003e to date and is scaling toward a target output of \u003cstrong\u003e150 satellites annually\u003c/strong\u003e.\u0026nbsp;\u003c/div\u003e\u003cdiv\u003e\u003cbr\u003eIf executed, the raise would provide critical growth capital for scaling manufacturing, R\u0026amp;D, and international expansion. Given the defense orientation of its customer base, Iceye is well positioned to capture cross‑border contracts. Investors will watch execution risk closely, including satellite yield, margins, and geopolitical exposure tied to sensitive imaging capabilities.\u003c/div\u003e"},{"title":"Verizon Taps AST SpaceMobile to Extend Connectivity via Satellites in 2026","summary":"Verizon has signed a deal to provide cellular service from space through AST SpaceMobile beginning next year.","tags":["AST Spacemobile","Verizon","DTC"],"url":"https://research.33fg.com/news/verizon-taps-ast-spacemobile-to-extend-connectivity-via-satellites-in-2026","published_at":"Oct 08, 2025","source":"Apnews","thumbnail":"https://research.33fg.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MTU1MCwicHVyIjoiYmxvYl9pZCJ9fQ==--806e36fa7c3309cbda60afcdce63c6af7b65cd71/verizon%20deal.jpeg","commentary":"\u003cdiv\u003eVerizon and \u003cstrong\u003eAST SpaceMobile\u003c/strong\u003e have struck a \u003cstrong\u003ecommercial agreement\u003c/strong\u003e to leverage AST’s direct-to-device (D2D) satellite infrastructure beginning in \u003cstrong\u003e2026\u003c/strong\u003e, enabling Verizon’s \u003cstrong\u003e850 MHz low-band spectrum\u003c/strong\u003e to reach remote and underserved U.S. areas. The deal builds on their 2024 strategic partnership and represents a broad expansion of Verizon’s terrestrial network footprint into orbital layers. \u003cbr\u003e\u003cbr\u003e\u003c/div\u003e\u003cdiv\u003eThe move gives \u003cstrong\u003eAST\u003c/strong\u003e deep access to Verizon’s infrastructure and customers without bearing the full commercial risk of market rollout. For Verizon, it represents a hedge and competitive lever against rivals deploying DTC from space like T-Mobile/Starlink and AT\u0026amp;T via AST also. The announcement triggered a \u003cstrong\u003edouble-digit surge in AST’s share price \u003c/strong\u003e(now up 100% in the last month), reflecting investor confidence in the company’s ability to monetize satellite DTC services.\u003c/div\u003e"},{"title":"Blue Origin Lands $78M Space Force Contract for Cape Canaveral Payload Facility","summary":"Will expand space vehicle processing capacity by 2028 at Cape Canaveral Space Force Station in Florida","tags":["Blue Origin","Defense"],"url":"https://research.33fg.com/news/blue-origin-lands-78m-space-force-contract-for-cape-canaveral-payload-facility","published_at":"Oct 07, 2025","source":"Kentreporter","thumbnail":"https://research.33fg.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MTUyNCwicHVyIjoiYmxvYl9pZCJ9fQ==--af1935765fff333dae9683c2d9a2ce94c5393911/blue%20origin%20thumb.jpg","commentary":"\u003cdiv\u003eThe \u003cstrong\u003eU.S. Space Force\u003c/strong\u003e awarded a \u003cstrong\u003e$78.25 million contract\u003c/strong\u003e to \u003cstrong\u003eBlue Origin\u003c/strong\u003e to build and expand a \u003cstrong\u003epayload processing facility at Cape Canaveral\u003c/strong\u003e aimed at supporting multiple launch providers. The facility will boost vehicle integration and testing capacity by \u003cstrong\u003e2028\u003c/strong\u003e, addressing current bottlenecks in payload readiness workflows.\u0026nbsp;\u003c/div\u003e\u003cdiv\u003e\u003cbr\u003eThis award strengthens Blue Origin’s positioning as a broader “space infrastructure” player beyond launch manufacturing. While the contract is relatively modest in size, it provides steady government cash flow and may help the company win further work from the DoD or commercial programs needing resilient launch processing. The enhanced capacity could also support scaling New Glenn or third‑party launch traffic, assuming vehicle certification and demand align.\u003c/div\u003e"},{"title":"Thales Alenia Space Breaks Ground on €100M Italian Satellite Factory","summary":null,"tags":["Europe","Thales Alenia"],"url":"https://research.33fg.com/news/thales-alenia-space-breaks-ground-on-100m-italian-satellite-factory","published_at":"Oct 07, 2025","source":"Reuters","thumbnail":"https://research.33fg.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MTUyNiwicHVyIjoiYmxvYl9pZCJ9fQ==--4083d3eb28a425e7b4a84bb19d5c995862bc4fc4/thales%20alenia.jpeg","commentary":"\u003cdiv\u003eThales Alenia Space and the Italian government plan to launch operations at a new \u003cstrong\u003e21,000 m² satellite manufacturing plant near Rome\u003c/strong\u003e by end‑2025. Backed by \u003cstrong\u003e€100 million\u003c/strong\u003e in EU post‑COVID and private capital funding, the facility aims to produce up to \u003cstrong\u003e100 satellites per year\u003c/strong\u003e, supporting both civil and defense programs.\u003cbr\u003e\u003cbr\u003eThis investment marks a strategic push by Europe to build sovereign capacity and reduce dependency on U.S. or Asian satellite manufacturing. For investors, the facility expands internal supply chain control, potentially lower costs, and larger scale. Watch for partnerships with national constellations, export orders, and competitive positioning against commercial players pushing for volume manufacturing.\u003c/div\u003e"},{"title":"U.S. Government Shutdown Drags On, NASA Operations Largely Halted","summary":"Posted: October 3, 2025 6:42 pm ET | Last Updated: October 3, 2025 6:42 pm ET | The Senate again failed to pass legislation today to re-open the federal government after a lapse in appropriations caused a partial government shutdown on October 1, 2025.","tags":["NASA","Regulatory"],"url":"https://research.33fg.com/news/u-s-government-shutdown-drags-on-nasa-operations-largely-halted","published_at":"Oct 06, 2025","source":"Spacepolicyonline","thumbnail":"https://research.33fg.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MTUxNiwicHVyIjoiYmxvYl9pZCJ9fQ==--2dacf64aac349357e2dba91213d202125812fad0/save%20nasa.jpeg","commentary":"\u003cdiv\u003eThe \u003cstrong\u003eU.S. Senate\u003c/strong\u003e again \u003cstrong\u003efailed to pass a continuing resolution\u003c/strong\u003e, extending the \u003cstrong\u003efederal government shutdown\u003c/strong\u003e with \u003cstrong\u003eno immediate path to reopening\u003c/strong\u003e. Approximately \u003cstrong\u003e15,000 of NASA’s 18,000 civil servants\u003c/strong\u003e have been \u003cstrong\u003efurloughed\u003c/strong\u003e, leaving only about \u003cstrong\u003e3,100 exempt employees\u003c/strong\u003e to maintain critical functions such as \u003cstrong\u003eISS mission control\u003c/strong\u003e and \u003cstrong\u003eArtemis program safety operations\u003c/strong\u003e. The \u003cstrong\u003eFCC\u003c/strong\u003e and \u003cstrong\u003eFAA\u003c/strong\u003e remain similarly impacted, halting most \u003cstrong\u003elicensing and regulatory activity\u003c/strong\u003e. \u003cstrong\u003eBill Nye\u003c/strong\u003e and \u003cstrong\u003eThe Planetary Society\u003c/strong\u003e organized a \u003cstrong\u003e“Save NASA Science” rally\u003c/strong\u003e in Washington to highlight the disruption to ongoing research.\u003cbr\u003e\u003cbr\u003e\u003c/div\u003e\u003cdiv\u003eThe \u003cstrong\u003eprolonged funding lapse\u003c/strong\u003e increases the likelihood of \u003cstrong\u003edelays in new contracts, grants, and regulatory approvals\u003c/strong\u003e across NASA, the FCC, and the FAA, raising \u003cstrong\u003eexecution and timing risk\u003c/strong\u003e for aerospace firms reliant on government partnerships. Extended disruption could also \u003cstrong\u003ecompound schedule slippages\u003c/strong\u003e for major programs such as \u003cstrong\u003eArtemis II\u003c/strong\u003e, \u003cstrong\u003enew satellite authorizations\u003c/strong\u003e, and \u003cstrong\u003eFAA launch licensing\u003c/strong\u003e, potentially affecting commercial operators’ revenue timelines and investor confidence.\u003c/div\u003e"},{"title":"AST SpaceMobile Recent Updates on BlueBird Deployment Sends Stock to $72.90","summary":"AST SpaceMobile released an update on its satellite launch schedule, sees a major price target hike from Barclays.","tags":["AST Spacemobile","DTC"],"url":"https://research.33fg.com/news/ast-spacemobile-recent-updates-on-bluebird-deployment-sends-stock-to-72-90","published_at":"Oct 06, 2025","source":"Investors","thumbnail":"https://research.33fg.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MTUyMiwicHVyIjoiYmxvYl9pZCJ9fQ==--a3d8dbd9ba743cdd13383eab329fe956abfe17b3/ASTS.jpg","commentary":"\u003cdiv\u003eASTS recently announced that \u003cstrong\u003eBlueBird 6\u003c/strong\u003e has completed assembly and testing and will ship to India on October 12. \u003cstrong\u003eBlueBird 7\u003c/strong\u003e is next to follow, while \u003cstrong\u003esatellites 8 through 16\u003c/strong\u003e are already in production, launching every 1–2 months through 2026. The company aims to field \u003cstrong\u003e45–60 satellites by the end of 2026\u003c/strong\u003e. The stock responded sharply, closing on Monday 3rd October at \u003cstrong\u003e$72.90\u003c/strong\u003e, a sharp rise from prior levels and reflecting renewed investor conviction.\u003cbr\u003e\u003cbr\u003e\u003c/div\u003e\u003cdiv\u003eThis update shifts AST from narrative toward execution. With concrete production and shipment timelines, the company must now deliver on its promises. The stock’s jump demonstrates how much market value hinges on visible milestones. Key risks include capital burn, launch cadence, regulatory approvals, and competition from better capitalized rivals. The next few launches and service trials will be decisive.\u003c/div\u003e"},{"title":"FCC Declares “Space Month”","summary":"Bureau Chief Jay Schwarz said shift from a 'scarcity mindset' to an 'abundance mindset' in space policy needed to continue.","tags":["AST Spacemobile","Regulatory","DTC","SpaceX","Starlink"],"url":"https://research.33fg.com/news/fcc-declares-space-month","published_at":"Oct 06, 2025","source":"Spacenews","thumbnail":"https://research.33fg.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MTUxNywicHVyIjoiYmxvYl9pZCJ9fQ==--873947b1143d8b2494cdcc668ee88383151d7ee1/fcc2.png","commentary":"\u003cdiv\u003eThe FCC has designated October as \u003cem\u003e“Space Month”\u003c/em\u003e—a coordinated push to accelerate satellite licensing and modernize spectrum policy amid rising competition with China. Following Congress’s \u003cstrong\u003eOne Big Beautiful Bill Act\u003c/strong\u003e, which restores auction authority through \u003cstrong\u003e2034\u003c/strong\u003e and mandates \u003cstrong\u003e300 MHz\u003c/strong\u003e of new auctions by \u003cstrong\u003e2027\u003c/strong\u003e, the FCC’s \u003cstrong\u003eSpace Bureau\u003c/strong\u003e has begun reviewing the \u003cstrong\u003eUpper C-Band (3.98–4.20 GHz)\u003c/strong\u003e for shared satellite-terrestrial use. Simultaneously, Chairman \u003cstrong\u003eBrendan Carr\u003c/strong\u003e proposed reforms to automate Earth-station approvals and update \u003cstrong\u003eUMFUS (24–47 GHz)\u003c/strong\u003e siting rules, replacing the regulator’s “default-to-no” posture with a streamlined, “default-to-yes” framework.\u003cbr\u003e\u003cbr\u003e\u003c/div\u003e\u003cdiv\u003eThe shift is about \u003cstrong\u003eregulatory integration\u003c/strong\u003e. Historically, satellites and 5G infrastructure operated in separate regulatory silos: Earth stations required bespoke approvals, mid-band spectrum was locked to legacy FSS, and mmWave bands were reserved exclusively for terrestrial use. \u003cem\u003eSpace Month\u003c/em\u003e begins to merge these domains, potentially allowing \u003cstrong\u003eco-located gateways on 5G towers\u003c/strong\u003e, shared-band operations, and standardized approvals that cut deployment timelines from months to weeks.\u003cbr\u003e\u003cbr\u003e\u003c/div\u003e\u003cdiv\u003eFor hybrid Direct-to-Cell (DTC) architectures, this removes the structural friction between \u003cstrong\u003esatellite reach\u003c/strong\u003e and \u003cstrong\u003eterrestrial density\u003c/strong\u003e. Satellites maintain ubiquitous coverage, particularly in rural and remote areas, while tower-based gateways handle high-capacity backhaul in cities through existing fiber networks. The result is a single, resilient communications fabric spanning orbit and ground, one that can flex between direct satellite links and terrestrial pathways in real time.\u003c/div\u003e\u003cdiv\u003e\u003cbr\u003eFor investors, the signal is clear: the U.S. is aligning policy, infrastructure, and spectrum toward a unified communications ecosystem. The FCC’s actions convert what was once administrative lag into a competitive advantage, positioning American operators like \u003cstrong\u003eSpaceX\u003c/strong\u003e and \u003cstrong\u003eAST SpaceMobile\u003c/strong\u003e to scale faster and integrate deeper with telecom carriers.\u003c/div\u003e"},{"title":"Firefly Aerospace acquires SciTec for ~$855M (cash + equity)","summary":"Addition of SciTec software and data processing capabilities expands Firefly’s responsive mission services for space and defense customers.","tags":["Launch","Firefly Aerospace","Defense"],"url":"https://research.33fg.com/news/firefly-aerospace-acquires-scitec-for-855m-cash-equity","published_at":"Oct 05, 2025","source":"Fireflyspace","thumbnail":"https://research.33fg.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MTUyMCwicHVyIjoiYmxvYl9pZCJ9fQ==--76af4ff063584824699a947f08b60ad6acb7766e/acquisition.jpeg","commentary":"\u003cdiv\u003e\u003cstrong\u003eFirefly Aerospace (NASDAQ: FLY)\u003c/strong\u003e announced a \u003cstrong\u003edefinitive agreement to acquire SciTec\u003c/strong\u003e, a specialist in \u003cstrong\u003esoftware, analytics, and data processing for national security systems\u003c/strong\u003e, for \u003cstrong\u003e$300 million in cash\u003c/strong\u003e and \u003cstrong\u003e$555 million in Firefly shares\u003c/strong\u003e.\u003c/div\u003e\u003cdiv\u003e\u003cbr\u003eThis represents a \u003cstrong\u003etransformational M\u0026amp;A move\u003c/strong\u003e for Firefly, marking a strategic shift toward \u003cstrong\u003eintegrated mission and data services\u003c/strong\u003e rather than pure hardware or launch revenue. The acquisition gives Firefly exposure to \u003cstrong\u003ehigh-margin analytics and mission-support contracts\u003c/strong\u003e, which are increasingly critical differentiators in defense and intelligence markets. If successfully integrated, the deal could \u003cstrong\u003estabilize revenue, expand margins\u003c/strong\u003e, and strengthen Firefly’s competitive positioning against peers still reliant on one-off launch economics.\u003c/div\u003e"},{"title":"ESA opens new deep‑space antenna at New Norcia, Australia","summary":"A second deep space antenna opened in a tiny monastic town in Western Australia could help unlock the secrets of the universe.","tags":["Europe","Space Exploration"],"url":"https://research.33fg.com/news/esa-opens-new-deep-space-antenna-at-new-norcia-australia","published_at":"Oct 05, 2025","source":"Abc","thumbnail":"https://research.33fg.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MTUxOCwicHVyIjoiYmxvYl9pZCJ9fQ==--5128e6c1f793afdb15ff120fb0d33242348a9f41/deep%20space%20baby.jpeg","commentary":"\u003cdiv\u003eThe \u003cstrong\u003eEuropean Space Agency (ESA)\u003c/strong\u003e inaugurated a \u003cstrong\u003efourth global deep-space antenna\u003c/strong\u003e, located at \u003cstrong\u003eNew Norcia\u003c/strong\u003e in \u003cstrong\u003eWestern Australia\u003c/strong\u003e, featuring a \u003cstrong\u003e40-meter dish\u003c/strong\u003e as the site’s second major antenna.\u003cbr\u003e\u003cbr\u003e\u003c/div\u003e\u003cdiv\u003e\u003cstrong\u003eDeep-space missions\u003c/strong\u003e increasingly require \u003cstrong\u003ehigher data throughput, lower latency, and improved redundancy\u003c/strong\u003e. As more \u003cstrong\u003eplanetary probes and interplanetary observatories\u003c/strong\u003e are launched, \u003cstrong\u003eground infrastructure\u003c/strong\u003e is becoming both a \u003cstrong\u003ebottleneck and a strategic differentiator\u003c/strong\u003e. \u003cstrong\u003eControl of tracking assets\u003c/strong\u003e can translate into \u003cstrong\u003erecurring revenue\u003c/strong\u003e through \u003cstrong\u003eantenna rentals and mission support services\u003c/strong\u003e, as well as \u003cstrong\u003egeopolitical leverage\u003c/strong\u003e in deep-space communications.\u003c/div\u003e"},{"title":"UK invests in satellite laser defense sensors amidst rising space threats","summary":null,"tags":["Space Situational Awareness","Defense"],"url":"https://research.33fg.com/news/uk-invests-in-satellite-laser-defense-sensors-amidst-rising-space-threats","published_at":"Oct 03, 2025","source":"Reuters","thumbnail":"https://research.33fg.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MTUxOSwicHVyIjoiYmxvYl9pZCJ9fQ==--66b35dbbd1670f4660522bbd6ee9724ff5991fd8/uk%20space%20command.jpeg","commentary":"\u003cdiv\u003eThe \u003cstrong\u003eUK government\u003c/strong\u003e has committed approximately \u003cstrong\u003e£500,000\u003c/strong\u003e to develop \u003cstrong\u003esensors capable of detecting and countering laser or directed-energy threats\u003c/strong\u003e aimed at \u003cstrong\u003eorbiting satellites and space infrastructure\u003c/strong\u003e.\u003cbr\u003e\u003cbr\u003e\u003c/div\u003e\u003cdiv\u003eAs major powers increasingly treat \u003cstrong\u003espace as a contested domain\u003c/strong\u003e, investment in \u003cstrong\u003edefensive space technologies\u003c/strong\u003e such as \u003cstrong\u003eoptical sensors, tracking systems, and hardened optics\u003c/strong\u003e is becoming strategically critical. This move could open \u003cstrong\u003enew procurement opportunities\u003c/strong\u003e for firms specializing in \u003cstrong\u003ephotonics, space situational awareness, and satellite protection\u003c/strong\u003e, positioning them to benefit from \u003cstrong\u003erising defense budgets and sovereign resilience initiatives\u003c/strong\u003e.\u003c/div\u003e"},{"title":"MDA selected to deliver enhanced space situational awareness data services for Canada’s DND","summary":"MDA Space Ltd., a trusted mission partner to the rapidly expanding global space industry, announced it has been selected to deliver enhanced space situation awareness to the Department of National Defence (DND).","tags":["Space Situational Awareness"],"url":"https://research.33fg.com/news/mda-selected-to-deliver-enhanced-space-situational-awareness-data-services-for-canada-s-dnd","published_at":"Oct 03, 2025","source":"Bctechnology","thumbnail":"https://research.33fg.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MTUxNSwicHVyIjoiYmxvYl9pZCJ9fQ==--20294502479fc75999514f6a457b5044829552da/MDA%20LOGO.jpeg","commentary":"\u003cdiv\u003e\u003cstrong\u003eMDA Space\u003c/strong\u003e, a leading \u003cstrong\u003eCanadian space contractor\u003c/strong\u003e, has been awarded a \u003cstrong\u003econtract by Canada’s Department of National Defence\u003c/strong\u003e to deliver enhanced \u003cstrong\u003espace situational awareness (SSA) data services\u003c/strong\u003e. The agreement expands MDA’s role in supporting Canada’s \u003cstrong\u003edefense-space operations\u003c/strong\u003e as global orbital congestion and debris threats continue to grow.\u003cbr\u003e\u003cbr\u003e\u003c/div\u003e\u003cdiv\u003eAs the need for \u003cstrong\u003etracking, analytics, and collision-avoidance data\u003c/strong\u003e intensifies, companies offering \u003cstrong\u003eSSA capabilities\u003c/strong\u003e are poised to benefit from \u003cstrong\u003erising defense and commercial demand\u003c/strong\u003e. This win reinforces \u003cstrong\u003eMDA’s strategic positioning\u003c/strong\u003e within the \u003cstrong\u003eNorth American defense-space market\u003c/strong\u003e, potentially paving the way for \u003cstrong\u003efollow-on contracts and cross-border collaboration\u003c/strong\u003e with allied military programs focused on \u003cstrong\u003espace domain awareness and security resilience\u003c/strong\u003e.\u003c/div\u003e"},{"title":"Space Force awards NSSL Phase 3 Lane 2 launch contracts: SpaceX gets 7 missions ($714M), ULA gets 2 missions ($428M)","summary":"SpaceX was assigned seven NSSL Phase 3 Lane 2 launches under a contract worth $714 million; ULA two launches worth $428 million.","tags":["Launch","ULA","SpaceX","Defense"],"url":"https://research.33fg.com/news/space-force-awards-nssl-phase-3-lane-2-launch-contracts-spacex-gets-7-missions-714m-ula-gets-2-missions-428m","published_at":"Oct 03, 2025","source":"Breakingdefense","thumbnail":"https://research.33fg.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MTUyMSwicHVyIjoiYmxvYl9pZCJ9fQ==--97286f98b24f2c34895222daac65880413dd6bf3/nssl.jpeg","commentary":"\u003cdiv\u003eUnder these task orders, for launches beginning in \u003cstrong\u003eFY 2027\u003c/strong\u003e, \u003cstrong\u003eSpaceX\u003c/strong\u003e secured \u003cstrong\u003eseven “must-go” national security payloads\u003c/strong\u003e, while \u003cstrong\u003eULA\u003c/strong\u003e received \u003cstrong\u003etwo\u003c/strong\u003e.\u003c/div\u003e\u003cdiv\u003e\u003cbr\u003eThis allocation reflects the \u003cstrong\u003eU.S. Space Force’s confidence in SpaceX’s capability\u003c/strong\u003e to deliver complex missions. For investors, it reinforces \u003cstrong\u003eSpaceX’s dominance in national security launch contracts\u003c/strong\u003e. \u003cstrong\u003eULA\u003c/strong\u003e maintains a small presence, but the imbalance highlights \u003cstrong\u003emounting cost and execution pressure\u003c/strong\u003e on its side. \u003cstrong\u003eBlue Origin\u003c/strong\u003e, though previously included in broader \u003cstrong\u003eNSSL awards\u003c/strong\u003e, received \u003cstrong\u003eno missions in this tranche\u003c/strong\u003e, raising concerns about its short-term competitiveness in the defense launch market. Future \u003cstrong\u003ebacklog strength, margins, and risk distribution\u003c/strong\u003e across providers will depend on consistent delivery performance.\u003c/div\u003e"},{"title":"Planet Labs: Satellite Deployment \u0026 Stock Surge","summary":"Planet Labs delivered new batches of satellites ahead of a rideshare mission with SpaceX. Shares jump for sixth day in a row.","tags":["Planet Labs","Earth Observation"],"url":"https://research.33fg.com/news/planet-labs-satellite-deployment-stock-surge","published_at":"Oct 02, 2025","source":"Investors","thumbnail":"https://research.33fg.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MTUxNCwicHVyIjoiYmxvYl9pZCJ9fQ==--2be9e953d1606b6969895f9eb41d8bb9c6ba459a/planetlabs.png","commentary":"\u003cdiv\u003e\u003cstrong\u003ePlanet Labs\u003c/strong\u003e has shipped \u003cstrong\u003ePelican-5, Pelican-6\u003c/strong\u003e, and \u003cstrong\u003e36 SuperDove satellites\u003c/strong\u003e to \u003cstrong\u003eVandenberg Space Force Base\u003c/strong\u003e for integration into \u003cstrong\u003eSpaceX’s Transporter-15 rideshare mission\u003c/strong\u003e. The \u003cstrong\u003ePelican series\u003c/strong\u003e will enhance Planet’s \u003cstrong\u003ehigh-resolution imaging capabilities\u003c/strong\u003e, while the \u003cstrong\u003eSuperDove satellites\u003c/strong\u003e will expand revisit frequency and global surface coverage, strengthening Planet’s data refresh and analytics pipeline.\u003cbr\u003e\u003cbr\u003e\u003c/div\u003e\u003cdiv\u003eInvestor response has been \u003cstrong\u003edecisively positive\u003c/strong\u003e, with \u003cstrong\u003ePlanet’s stock rising 7.8% intraday to record highs\u003c/strong\u003e. The stock has now \u003cstrong\u003erallied 83% since September\u003c/strong\u003e and is up \u003cstrong\u003eover 260% year-to-date\u003c/strong\u003e, reflecting optimism around \u003cstrong\u003econstellation densification and scalable data products\u003c/strong\u003e. Sustaining this trajectory will require \u003cstrong\u003eexecution discipline\u003c/strong\u003e, as any \u003cstrong\u003elaunch delays, latency, or imagery quality shortfalls\u003c/strong\u003e could weigh on valuation. The expansion underscores Planet’s push to evolve from data collection toward \u003cstrong\u003erecurring analytics and enterprise service revenue\u003c/strong\u003e.\u003c/div\u003e"},{"title":"Portal Space: Solar Thermal Propulsion (STP) Test Success","summary":null,"tags":["Portal Space","Solar Thermal Propulsion"],"url":"https://research.33fg.com/news/portal-space-solar-thermal-propulsion-stp-test-success","published_at":"Oct 02, 2025","source":"Geekwire","thumbnail":"https://research.33fg.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MTUxMywicHVyIjoiYmxvYl9pZCJ9fQ==--721272eef81de09dae022166df383c5f4804dfdc/Screenshot%202025-10-03%20at%2014.23.45.png","commentary":"\u003cdiv\u003e\u003cstrong\u003ePortal Space Systems\u003c/strong\u003e, a \u003cstrong\u003eMach33 portfolio company\u003c/strong\u003e, has successfully tested its \u003cstrong\u003esolar thermal propulsion system (Flare)\u003c/strong\u003e at \u003cstrong\u003efull power inside a vacuum chamber\u003c/strong\u003e, validating its \u003cstrong\u003e3D-printed heat exchanger\u003c/strong\u003e under \u003cstrong\u003eflight-representative thermal stress\u003c/strong\u003e. The system achieved \u003cstrong\u003etemperatures near 1,500 °C\u003c/strong\u003e, demonstrating that it can thermally energize an \u003cstrong\u003eammonia-based propellant\u003c/strong\u003e to generate thrust. The company aims for its \u003cstrong\u003eSupernova spacecraft\u003c/strong\u003e to transition between \u003cstrong\u003eLEO and GEO in days\u003c/strong\u003e, or \u003cstrong\u003eLEO and MEO in hours\u003c/strong\u003e, a significant leap in orbital agility.\u003cbr\u003e\u003cbr\u003e\u003c/div\u003e\u003cdiv\u003eBecause \u003cstrong\u003esolar thermal propulsion\u003c/strong\u003e avoids both \u003cstrong\u003ecombustion and cryogenics\u003c/strong\u003e, it could provide a \u003cstrong\u003esimpler, higher-delta-v architecture\u003c/strong\u003e with greater agility than electric propulsion and lower mass than chemical systems. The concept still needs \u003cstrong\u003ein-orbit validation\u003c/strong\u003e to prove reliability and system integration ahead of a \u003cstrong\u003eplanned 2026 demonstration mission\u003c/strong\u003e. If successful, Flare could introduce a \u003cstrong\u003enew maneuverability advantage\u003c/strong\u003e in space logistics, from \u003cstrong\u003ecollision avoidance and orbital servicing to rapid deployment\u003c/strong\u003e, though the \u003cstrong\u003emarket size will hinge on operator demand for high-agility satellites\u003c/strong\u003e.\u003c/div\u003e"},{"title":"Inversion Unveils Arc","summary":null,"tags":["Inversion Space","Re-entry"],"url":"https://research.33fg.com/news/inversion-unveils-arc","published_at":"Oct 02, 2025","source":"X","thumbnail":"https://research.33fg.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MTUxMiwicHVyIjoiYmxvYl9pZCJ9fQ==--e7f412b2c5814fbbcd30a6834f33ac5f819a68bf/arcsadf.jpeg","commentary":"\u003cdiv\u003e\u003cstrong\u003eInversion Space\u003c/strong\u003e has unveiled \u003cstrong\u003eArc\u003c/strong\u003e, a \u003cstrong\u003ereusable reentry spacecraft\u003c/strong\u003e designed to provide \u003cstrong\u003eon-demand delivery of cargo anywhere on Earth in under an hour\u003c/strong\u003e. The vehicle can be \u003cstrong\u003eprepositioned in orbit for up to five years\u003c/strong\u003e, then autonomously \u003cstrong\u003ereenter and land with its payload\u003c/strong\u003e when summoned. \u003cstrong\u003eArc\u003c/strong\u003e is engineered to carry \u003cstrong\u003earound 500 pounds (≈ 225 kilograms)\u003c/strong\u003e, sufficient for \u003cstrong\u003ecritical components, sensors, or small payloads\u003c/strong\u003e but far below what is viable for large-scale logistics.\u003c/div\u003e\u003cdiv\u003e\u003cbr\u003eThe \u003cstrong\u003epayload limitations\u003c/strong\u003e make this concept a \u003cstrong\u003eniche proposition\u003c/strong\u003e, appealing mainly for \u003cstrong\u003ehigh-value, time-sensitive missions\u003c/strong\u003e such as \u003cstrong\u003edefense logistics, hypersonic testing, or rapid-response payload deployment\u003c/strong\u003e. \u003cstrong\u003eInversion’s positioning of Arc as a dual-use platform\u003c/strong\u003e—supporting both tactical resupply and weapons testing—suggests its primary market may emerge from \u003cstrong\u003emilitary or aerospace R\u0026amp;D customers\u003c/strong\u003e rather than commercial freight. The long-term opportunity depends on whether the economics of maintaining “stocked” orbital inventory can justify the cost of deployment and reentry at such low mass capacity.\u003c/div\u003e"},{"title":"Firefly Aerospace Faces Investor Investigation Following Alpha Booster Explosion","summary":"Investors who suffered a loss and would like to learn more, click here to contact us.","tags":["Regulatory","Firefly Aerospace"],"url":"https://research.33fg.com/news/firefly-aerospace-faces-investor-investigation-following-alpha-booster-explosion","published_at":"Oct 02, 2025","source":"Rgrdlaw","thumbnail":"https://research.33fg.com/rails/active_storage/blobs/redirect/eyJfcmFpbHMiOnsiZGF0YSI6MTUyMywicHVyIjoiYmxvYl9pZCJ9fQ==--25a994aeb964d51c89f2079492904342f51f4e8d/alpha%20explosion.jpg","commentary":"\u003cdiv\u003e\u003cstrong\u003eRobbins Geller Rudman \u0026amp; Dowd LLP\u003c/strong\u003e announced an investigation into \u003cstrong\u003eFirefly Aerospace (NASDAQ: FLY)\u003c/strong\u003e for potential \u003cstrong\u003eviolations of U.S. securities laws\u003c/strong\u003e, focusing on whether the company misled investors or withheld material information. The probe follows a \u003cstrong\u003eground test anomaly\u003c/strong\u003e that destroyed an \u003cstrong\u003eAlpha booster\u003c/strong\u003e during pre-flight testing, prompting scrutiny over Firefly’s technical disclosures and investor communications.\u003cbr\u003e\u003cbr\u003e\u003c/div\u003e\u003cdiv\u003eThe investigation arrives at a critical moment for Firefly, having just gone public. Legal uncertainty, combined with technical setbacks, adds operational and reputational risk just as Firefly seeks greater defense and national-security contracts. The outcome could influence investor confidence in the company’s path toward sustainable profitability and affect valuation of other small-launch peers exposed to similar reliability and disclosure concerns.\u003c/div\u003e"}]}
{{/if}}
{{/if}}