Small-rocket mass-manufacturing startup Phantom Space is all set to expand its business model through the recent acquisition of StratSpace, a consultancy, and developer of bespoke space systems and flight hardware.
Phantom Space Corporation aims to go ahead with mass manufacturing techniques never yet seen in the space industry. In May this year, Phantom Space Corporation announced raising $ 5 million capital. Founding company members are taking a swing at space once again after they previously worked at another Tucson space startup that filed for bankruptcy in 2019.
Michal Prywata, Co-Founder Phantom Space, said, “Our goal at Phantom is to create a world where access to space truly is democratized, and anyone could effectively launch satellites on their schedule and to an orbital plane of their choosing for their given application, and we are excited to accelerate this work through the acquisition of StratSpace.”
Phantom to offer more space access with acquisition
Phantom Space has acquired Tucson, Arizona-based flight hardware developer StratSpace for an undisclosed amount in a move to expand satellite launch and data infrastructure offerings. Phantom said it aims to offer daily space access by integrating the company’s Daytona and Laguna rocket platforms with core StratSpace technology assets.
StratSpace has helped customers build, engineer and manage systems for 46 space programs over 20 years. Clients included Lockheed Martin (NYSE: LMT), Northrop Grumman (NYSE: NOC), Boeing (NYSE: BA), and NASA.
“[StratSpace] has all the know-how, all the tools, the satellite structures, communication systems that can make a spacecraft operate,” said Prywata. “Which is very critical for us because we want to be one of the first companies that cover that full spectrum of service from start to finish,” he added.
Founded in 2019, Phantom has booked more than $100 million in contracts to date to support customers’ satellite manufacturing and launch efforts. Phantom hopes to launch its first orbital mission in 2022 or 2023 and has been cutting costs and saving time on research and development by securing access to existing tech.
Phantom plans to buy and license existing components as much as possible, a radical departure from existing space launch production in which companies such as Space Exploration Technologies Corp., Rocket Lab USA Inc., and Virgin Orbit LLC custom produce nearly all their parts in-house. In Cantrell’s view, most rockets remain too bespoke in their largely handcrafted assembly and, thus, unnecessarily expensive.