On May 17, Rocket Lab successfully launched the QPS-SAR-10 satellite, the latest addition to a growing constellation of radar imaging satellites for the Japanese company, Institute for Q-shu Pioneers of Space (iQPS). An Electron rocket lifted off from Launch Complex 1 in New Zealand, deploying the satellite into a 575-kilometer orbit approximately 50 minutes later.
This launch marks the third Electron launch for iQPS, following a previous launch in mid-March and fulfilling a multi-launch contract. iQPS aims to expand its constellation to 24 satellites by 2027, eventually reaching 36. “With more Electron launches ahead, we’re more committed than ever to accelerating the buildout of our satellite constellation, and we look forward to continuing this powerful partnership,” stated Shunsuke Onishi, iQPS chief executive.
The iQPS contract with Rocket Lab encompasses six additional Electron launches, scheduled for 2025 and 2026. The next launch is planned for June. Rocket Lab emphasizes the contract as demonstrating its ability to support smallsat constellation deployments, providing precise orbital control and scheduling flexibility, a capability it suggests rideshare launches lack. “We have a lot of customers that will go and fly on a Transporter, and then they’ll come back and they’ll go book their whole constellation on us,” noted Peter Beck, Rocket Lab’s chief executive.
Rocket Lab's recent earnings call revealed a slight decrease in the average selling price (ASP) of Electron, attributed to a mix of contracts including multi-launch deals. “We’ve got volume launch deals where we price relatively aggressively because people are making long-term volume commitments to the business,” explained Adam Spice, Rocket Lab’s chief financial officer. However, he anticipates a significant increase in ASP for 2025.
This launch was Electron's sixth of the year, with Rocket Lab aiming for at least 20 launches in 2024. An increased launch cadence is expected in the second half of the year.