Terran Orbital Named to Fast Company’s Annual List of the World’s Most Innovative Companies for 2023 (Image Credit: Terran Orbital Corporation)
The aerospace and defense satellite manufacturer joins the ranks of OpenAI, Disney, Tiffany & Co., and more
BOCA RATON, Fla., March 2, 2023 – Terran Orbital Corporation (NYSE: LLAP), a global leader in satellite-based solutions, has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2023.
This year’s list highlights the businesses at the forefront of their respective industries, paving the way for the innovations of tomorrow. These companies are setting the standard with some of the greatest accomplishments of the modern world. In addition to the World’s 50 Most Innovative Companies, 540 organizations are recognized across 54 sectors and regions.
“At Terran Orbital we are committed to propelling the aerospace and defense industry forward,” said Terran Orbital Co-Founder, Chairman, and Chief Executive Officer Marc Bell. “Our contract wins throughout the years and our consistent delivery prove why Terran Orbital continues to be a satellite manufacturer of choice for governments and companies worldwide. We are honored to be named to Fast Company’s Annual List of the World’s Most Innovative Companies. Thank you to each and every Terran who continues to make Terran Orbital one of the most innovative companies in the world.”
Terran Orbital is an innovative mass producer of satellites for leading operators and major industry participants and is a preferred supplier for customers across the United States, Europe, the Middle East, and Australia. In the last two years, Terran Orbital began trading on the New York Stock Exchange and expanded upon its CubeSat roots to produce satellites of varying size. Terran Orbital recently won a $2.4 billion contract to design, build, and deploy 288 low-earth orbit satellites for Rivada Space Networks. As part of the contract, Terran Orbital will also develop 12 “spare” satellites to produce a total of 300 spacecraft.
In October 2022, Terran Orbital received a $100 million investment from Lockheed Martin. In connection with the investment, Terran Orbital and Lockheed Martin also entered into a new Strategic Cooperation Agreement (SCA). The new SCA runs through 2035 and allows Terran Orbital to pursue a wider variety of opportunities with Lockheed Martin. Prior to the SCA, Terran Orbital and Lockheed Martin were already working together on numerous projects, including the Space Development Agency’s (SDA) Transport Layer. Terran Orbital delivered ten spacecraft to Lockheed Martin in support of the SDA Transport Layer’s foundational layer, Tranche 0, and is currently developing 42 satellites for the next layer, Tranche 1. Once completed, SDA’s Transport Layer will provide assured, resilient, low-latency military data and connectivity worldwide to the full range of warfighter platforms.
Fast Company’s editors and writers sought out the companies making the biggest strides around the globe. They also judged nominations received through their application process.
The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year. It provides a firsthand look at the inspiring and innovative efforts of companies across all sectors of the economy.
“What a strange and thrilling year it has been to honor this year’s Most Innovative Companies. This year’s list compiles some of the most cutting-edge groundbreakers who are changing our world every single day, from legacy organizations like McDonald’s to upstarts like MrBeast and institutions such as NASA. Everyone on this list does something completely, uniquely different, yet, they all have one thing in common: innovation,” said Fast Company editor-in-chief Brendan Vaughan.
Fast Company will host its third annual Most Innovative Companies Summit on April 19 and 20. The virtual summit celebrates the Most Innovative Companies in business, and provides an inside look at cutting-edge business trends and what it takes to innovate in 2023. Fast Company’s Most Innovative Companies issue (March/April 2023) is available online here, as well as in-app form via iTunes, and on newsstands beginning March 14. The hashtag is #FCMostInnovative.
ABOUT TERRAN ORBITAL
Terran Orbital is a leading manufacturer of satellite products primarily serving the aerospace and defense industries. Terran Orbital provides end-to-end satellite solutions by combining satellite design, production, launch planning, mission operations, and on-orbit support to meet the needs of the most demanding military, civil, and commercial customers. Learn more at www.terranorbital.com.
ABOUT FAST COMPANY
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.
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