Rocket Lab Corporation (NASDAQ:RKLB) shares moved higher on Thursday after the space launch company secured a new multi-launch agreement with Japan-based Institute for Q-shu Pioneers of Space, Inc. (iQPS) for three dedicated Electron missions.
The announcement expanded the long-running partnership between the two companies and added to Rocket Lab’s growing launch backlog.
New Contract Expands Existing Partnership
The latest agreement covers three Electron rocket launches, with missions scheduled to begin in late 2027 from Rocket Lab Launch Complex 1.
The new order represents iQPS’ third multi-launch contract with Rocket Lab in less than a year, increasing the total number of Electron missions booked by the Japanese satellite operator to 18.
Each launch will place a single QPS-SAR satellite into a 575-kilometre low Earth orbit to support iQPS’ expanding Earth observation constellation.
Electron to Deploy Advanced Radar Satellites
The QPS-SAR satellites use synthetic aperture radar (SAR) technology, allowing them to capture high-resolution imagery using radio waves.
Unlike traditional optical satellites, SAR systems can collect data both day and night and continue operating in adverse weather conditions, making them valuable for a wide range of commercial and monitoring applications.
Rocket Lab also confirmed that iQPS will use its Motorized Lightband satellite separation system for each of the newly contracted missions.
Launch Demand Continues to Grow
Since 2023, Rocket Lab’s Electron rocket has successfully deployed seven QPS-SAR satellites for iQPS, maintaining a 100% mission success rate on those launches.
The company said the latest agreement comes as demand for Electron launch services continues to reach record levels, further strengthening its position in the small satellite launch market.
Shares of Rocket Lab rose approximately 2.7% following the announcement.
Rocket Lab stock price
