Rocket Lab announced on Nov. 12 that it has signed its first customer for the Neutron launch vehicle, securing a contract with an unnamed “commercial satellite constellation operator” for two launches. The first Neutron launch for this customer is set for mid-2026, with a second scheduled for 2027. The contract also includes the potential for additional launches to support the customer’s full constellation deployment.
Credit: Rocket Lab
“We see this agreement as a key opportunity that could lead to Neutron deploying this customer’s entire constellation,” said Peter Beck, Rocket Lab’s CEO, during a call discussing the company’s third-quarter financial results. The signing marks a milestone for Rocket Lab, which has taken a careful approach to marketing Neutron, prioritizing development over early sales.
In previous calls, Beck expressed hesitancy to take on too many contracts before Neutron is flight-proven. “Until a vehicle is proven and flying, any launch contract that you can sign is basically worthless,” he said last year. Now, Beck notes that customer demand for launch slots on Neutron has gained momentum, adding that this recent contract aligns with the company’s pricing goal of $50 million to $55 million per launch.
Rocket Lab CFO Adam Spice emphasized that the company does not intend to discount Neutron’s launch price simply because it is a new vehicle. Instead, Rocket Lab plans to scale up Neutron gradually, starting with a single test launch in 2025, three in 2026, and five in 2027, then increasing to seven or more launches per year. Beck said this ramp-up is similar to the scaling pattern Rocket Lab used with its Electron rocket, allowing for a steady increase in launch frequency.
Development of Neutron is progressing, with Rocket Lab now “deep into the qualification testing” of key flight hardware, including the rocket’s Archimedes engine. The engine, which completed its first hotfire test in August at Stennis Space Center in Mississippi, has seen an increase in testing frequency, Beck said, with multiple engines now in testing.
Neutron is central to Rocket Lab’s long-term ambitions, including the potential for Rocket Lab’s own satellite constellation. Beck previously hinted at a third strategic pillar for the company—launch services, spacecraft production, and a proprietary constellation. While details on this constellation are still under wraps, Beck suggested that Neutron’s high-cadence, reusable launch capability will be essential for its deployment, much as SpaceX uses its Falcon 9 to launch Starlink.
Expanding Electron Launch Cadence
Alongside Neutron, Rocket Lab continues to advance its Electron launch operations. The company announced that its next Electron mission, carrying a third batch of five satellites for Kinéis, a French satellite operator focused on ship-tracking, is scheduled for Nov. 23 (New Zealand time). This launch is part of a five-launch contract with Kinéis, following previous launches in June and September.
So far this year, Rocket Lab has completed 12 Electron launches, including a recent mission on Nov. 5 for an undisclosed commercial customer. While Rocket Lab initially planned as many as 22 Electron launches in 2024, it revised that estimate to 15-18, which would still require an active final quarter. Beck expressed cautious optimism about meeting this target, citing a busy schedule for the rest of the year.
With Neutron development progressing and Electron maintaining a steady launch cadence, Rocket Lab is positioning itself as a major player in both satellite launches and future satellite constellations.
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