Smallsat builders AAC Clyde, Anywaves, Hemeria, SSTL, Terran Orbital: Vertical integration is yesterday’s New Space

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PARIS — Four merchant manufacturers of small satellites — AAC Clyde Space, Hemeria, SSTL and Terran Orbital — reported record customer solicitations in 2021 and said they see signs that startup constellation operators may finally be scrapping vertical integration in favor of outsourcing their satellites’ construction.

What started as a decision by showcase New Space operators Planet and Spire Global to build their own fleets, then ascribed to a lack of third-party smallsat production expertise, has not ceased despite the creation of multiple . . .

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