Rocket Lab's 55th Electron launch (left) was staged from Launch Complex 2 in Virgina, its 56th (right) from LC1 in Mahia.
Rocket Lab's 55th Electron launch (left) was staged from Launch Complex 2 in Virgina, its 56th (right) from LC1 in Mahia.
Our sole space company, started and led by Sir Peter Beck, just had its biggest year yet with a record 16 rocket launches and a share price surging by about 300%.
Markets with Madison was behind the scenes for many of Rocket Lab’s major milestones in 2024.
Episodes included exclusiveaccess to Rocket Lab’s 50th Electron rocket launch in Auckland’s mission control, and a tour of its East Coast base in the United States where it’s building a new launch site for its bigger Neutron rocket.
Candid discussions with Beck between it all uncovered the effort required to compete with SpaceX and his evolving vision for the Nasdaq-listed aerospace company.
Rocket Lab is rapidly building its first medium-lift launch vehicle called Neutron to compete with SpaceX’s Falcon 9 vehicle.
The rocket was initially targeting an inaugural launch in 2024, three years after it was announced, but that was pushed into 2025 in an earnings announcement last year.
Despite the delay, it remained on track to become the world’s fastest commercially developed launch vehicle of its size, at a total development cost of between US$250 million and US$300m ($532m).
The Neutron rocket would stand 43m-tall and 7m-wide, allowing it to carry 43 times more mass to low-Earth orbit than Rocket Lab’s existing small-lift launch vehicle Electron.
Because of its scale, it would only be launched from the US when operational.
In October Markets with Madison travelled to Rocket Lab’s launch facility in Virginia within Nasa’s Wallops Flight Facility to see Neutron’s progress up close.
Because progress is happening so fast, here’s an image of how Neutron’s launchpad on Launch Complex-3 looked before Christmas.
Progress on Neutron's launchpad structure in November, 2024.
Before travelling to the US, Markets with Madison caught up with Beck to discuss Neutron’s progress and potential.
In this interview, he explains how the rocket unlocks a $535 billion revenue opportunity for the company.
He also touches on rumoured controversy surrounding the project.
Milestone launch
Rocket Lab’s existing Electron rocket became the fastest commercially developed rocket to reach 50 launches in 2024.
The 18m-high, small-lift vehicle, designed and manufactured by Rocket Lab, is made of carbon composite and powered by 10 three-dimensional printed engines.
Markets with Madison joined the team as they counted down to celebrate the milestone launch in June, seven years after Electron’s first test launch.
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We encourage you to seek appropriate advice from a qualified professional to suit your individual circumstances.
Madison Reidy is the host of the NZ Herald’s investment show Markets with Madison. She joined the Herald in 2022 after working in investment, and has covered business and economics for television and radio broadcasters.
