Virgin Galactic (SPCE.US), which intends to offer suborbital space tourism services, has shared new agreements with investors, Axiom Space, Qarbon Aerospace and defense conglomerate Textron (TXT.US), which is one of the leading suppliers of advanced weaponry and components to the U.S. space and air forces:
Agreement with Textron
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Open real account TRY DEMO Download mobile app Download mobile appVirgin Galactic announced that the company has reached an agreement with Textron and Qarbon Aerospace to manufacture key components for a new fleet of 'Delta-class' spacecraft. The Delta ships are expected to make weekly flights, with six passengers on board, with production expected to begin as early as 2023. Textron will supply the ship's control system and the ship's surfaces. Qarbon Aerospace, on the other hand, will supply Virgin Galactic with wings and a fuselage.
- Both companies were selected following a competitive bidding process. Virgin Galactic will have to create the overall system architecture and designs for all components and also finalize the assembly, integration, inspection and test flights for the new vehicles. Virgin Galactic's currently flown vessels already have FAA approval for tourist spaceflight. Last time, the company reported on the production of the ships by Aurora Flight Sciences, which will produce a large so-called 'mother ship' of the next generation.
- All spacecraft will be assembled at Virgin Galactic's new facility in the state of Arizona, near Phoenix using so-called digital twin technology (. the first Delta-class spacecraft will begin revenue-generating cargo flights in late 2025, transitioning to private flights by astronauts in 2026.
Agreement with Axiom Space
The agreement with Axiom will support Virgin Galactic's microgravity research and training mission. The flight is tentatively scheduled for next year, and will prepare Axiom Space astronauts to travel to Earth orbit, where they will conduct work on the International Space Station and research conducted in microgravity conditions.
- Virgin Galactic intends to use its operations for exploration and scientific research on the human body, in weightlessness and suborbital space environments. Currently, 10% of the first 1,000 seats for 'space tourists' have been reserved for research missions. The value of the agreement with Axiom was not disclosed, however, the biggest benefit for Virgin in this case seems to be 'making the venture more credible' in the eyes of investors and the possibility of another flight.
- Axiom Space is still the only commercial provider of full orbital missions to the International Space Station, conducting full-fledged, comprehensive manned missions for private astronauts, including both individuals and those representing foreign governments. The company has several partnerships with countries interested in enhancing capabilities in the space domain, including Turkey, Italy, the UAE and Hungary. The company is in the process of building a future successor to the ISS, a station christened Axiom Station. Ultimately, it is to be the first permanent commercial station in Earth orbit, which will sustain human development beyond the planet and, according to the company's assumptions, become 'Earth's window to our galaxy.'
- The key, financial sides of both deals are not yet known. Virgin Galactic will report its financial results for the third quarter of the year today.
Virgin Galactic (SPCE.US) shares, intro D1. The stock is moving in a dynamic downtrend and is at historical lows. Fatal investor sentiment is shown by the fact that the stock is trading below both the SMA50 and SMA200 averages. It seems that until the company successfully organizes another tourist space flight and increases its fleet of ships, the market will continue to doubt the 'galactic business' concept of the company's creator, Richard Branson. Source: xStation5
