A Rocket Lab Electron being built Source: Rocket Lab A Rocket Lab Electron being built Source: Rocket Lab Close

The Series E round close brings total Rocket Lab funding to date to more than $288 million. Furthermore, it increases the valuation past the previous mark of $1 billion. Rocket Lab did not say what the post-money valuation is.

While preceding the launch of 'It's Busiess Time', the round also follows the opening of Rocket Lab's new mass production facility for the Electron vehicle last month, as well as the announcement confirming the location of Rocket Lab's second orbital launch site. Construction has now begun on Rocket Lab Launch Complex 2, which is based within the Mid-Atlantic Regional Spaceport at NASA Wallops Flight Facility in Virginia, USA. Launch Complex 2 can support monthly orbital launches from US soil, and is designed specifically to serve the responsive space needs of government customers. Between the two Rocket Lab launch complexes, the company can support up to 130 orbital missions per year.

Rocket Lab is a leader in the burgeoning lightweight launch market. It's early successes has enabled the company to line up investors, customers, and talent in order to continue improving its competitive position versus other companies in the market. Rocket Lab is in a strong position to emerge as one of a handful of dominant players in the lightweight launch market.

Launch Day at Kennedy Space Center Source: NASA/Bill Ingalls Launch Day at Kennedy Space Center Source: NASA/Bill Ingalls Close

In December 2018, Forecast International will release an updated version of its Launch Centers appendix. The new appendix will continue to have the same information as previous iterations, which include a table of launch centers, organized by country. Data in this table include location, active launch vehicles supported at each launch center, available orbital inclinations, annual launches, and notes summarizing valuable information about each launch center. The document also carries over a list of active launch vehicles and which launch centers they operate from.

However, there are now some notable changes. Forecast International is now including a launch center breakdown by launch pad or platform. The section a table for each launch center broken out by launch pad, launch vehicle families that operate from each pad, and how many launches have occurred over the last five years.

The new section will give customers valuable insights into the operations at each active orbital launch center in the world.

Finally, the new version of the appendix includes a table of inactive orbital launch centers. Previously, all launch centers were included in a single table. The new format enables customers to quickly determine which launch centers are active and which are not.

ESA is working to upgrade its Vega launch vehicle Source: ESA/CNES/Arianespace ESA is working to upgrade its Vega launch vehicle Source: ESA/CNES/Arianespace Close

The tests were part of ESA's effort to upgrade the Vega launch vehicle and to develop a family of Vega's able to lift a wide range of payload masses. ESA plans to eventually introduce three versions of the Vega - the Vega-C, the Vega-E, and the Vega Light - that will be able to carry between 250 kilograms and 2,500 kilograms into orbit at cost effective prices.

The main element of this evolution is a new European cryogenic upper stage powered by a 10 t-class liquid oxygen-methane expander cycle engine, the M10, specifically designed for Vega, reducing its operational cost. The M10 Vega engine can be restarted and the thrust profile can be throttled to match mission requirements, opening up more launch opportunities.

Subsequent tests are planned in May next year with full-scale thrust chamber assembly tests, and the first tests of the M10 development model by the end of 2019.

The light launch vehicle market is becoming increasingly competitive. The Vega faces competition from other launch vehicles like India's PSLV and Japan's Epsilon. The market is expected to become increasingly crowded going forward as startups like Virgin Orbit, Rocket Lab, Vector Space Systems, and Firefly Aerospace all seek to design and build new lightweight launch vehicles. Although many will be smaller than the Vega, they will compete to carry small satellites into orbit.

Even so, the Vega is in a healthy position in the lightweight launch vehicle market. It will benefit from a strong domestic market due to its association with the European Space Agency. ESA is dedicated to using European-built equipment and continues to launch lightweight scientific satellites, which should ensure steady demand for the Vega . In fact, in April 2017, the European Commission committed to buying two Vega -Cs per year once the launch vehicle becomes operational in 2019.

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