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Sierra Space CEO Tom Vice Retires as Company Pushes Toward Spaceplane Launch

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Sierra Space, the space spin-off of Sierra Nevada Corp, announced on Monday that CEO Tom Vice has retired, with billionaire Chairman Fatih Ozmen stepping in as interim CEO. This leadership change comes as the company nears the anticipated launch of its long-delayed Dream Chaser spaceplane.

Sierra Space, valued at $5.3 billion and spun off in 2021, has been working for nearly a decade to develop Dream Chaser, a spaceplane intended to transport cargo to and from low-Earth orbit. The spaceplane is expected to compete with SpaceX’s Dragon capsules. Under Vice’s leadership, Sierra Space also established a partnership with Jeff Bezos’ Blue Origin to build an inflatable space station, which would be offered to NASA as a potential commercial replacement for the International Space Station. Additionally, Sierra Space secured a $740 million contract from the Pentagon last year to build satellite platforms.

However, the company has faced challenges in launching Dream Chaser. Initially set to launch in 2024 aboard United Launch Alliance’s Vulcan rocket, the spaceplane was removed from the mission due to development delays.

Sierra Space thanked Tom Vice for his leadership during his tenure and wished him well in his retirement. The company’s backers include AE Industrial Partners, BlackRock, and Japanese investors like MUFG Bank and Kanematsu, following a $290 million funding round in 2023.

 

Boeing and Lockheed Martin in Talks to Sell ULA to Sierra Space in a Potential $2-$3 Billion Deal

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Boeing and Lockheed Martin are in advanced discussions to sell their joint venture, United Launch Alliance (ULA), to Sierra Space, a private aerospace company. The potential deal, which could value ULA between $2 billion and $3 billion, represents a significant shift in the U.S. space launch industry. ULA, a major provider of launch services to the U.S. government and a key competitor to Elon Musk’s SpaceX, has long been dominated by its parent companies, Boeing and Lockheed Martin, two of the largest defense contractors in the world.

This sale would mark a departure from past failed attempts to divest ULA, with previous potential buyers, including Jeff Bezos’ Blue Origin and Cerberus Capital Management, unable to reach an agreement. Sierra Space, spun off from Sierra Nevada Corporation in 2021, aims to use the acquisition to accelerate its space ambitions, including the development of its Dream Chaser spaceplane and a private space station habitat.

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For Boeing, selling ULA aligns with CEO Kelly Ortberg’s strategy to refocus on its core aerospace and defense businesses, while Lockheed Martin would similarly be shedding a non-core asset. ULA, formed in 2006 to consolidate Boeing’s and Lockheed’s rocket businesses, has struggled to compete with SpaceX’s innovative and cost-effective Falcon 9 rockets. ULA’s new Vulcan rocket, which debuted in 2023, has faced production and scalability challenges, making the timing of the sale critical for the company’s future.

Sierra Space’s potential acquisition of ULA would provide it with in-house launch capabilities, reducing its reliance on external providers and potentially saving hundreds of millions of dollars in launch costs for its spaceplane and space station projects. However, the deal is not yet finalized, and negotiations could still fall through. The sale would also free ULA from Boeing and Lockheed’s control, potentially allowing it to explore new markets such as lunar habitats and maneuverable spacecraft, areas previously resisted by its parent companies.

 

The Dream Chaser spaceplane has been removed from the manifest for ULA’s second Vulcan launch

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Sierra Space’s Dream Chaser spaceplane has been removed from the manifest for United Launch Alliance’s (ULA) second Vulcan Centaur flight due to scheduling delays. An “inert payload” will take its place, ULA announced on Wednesday. Devamını Oku