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Relativity Space

PrivateFounded 2015🇺🇸Long Beach, CaliforniaCEO Eric Schmidt

Relativity Space, led by CEO Eric Schmidt, is building Terran R, a reusable medium-to-heavy-lift rocket aimed at commercial, government, national-security, and telecommunications missions, and is privately developing the spacecraft for NASA's Aeolus Mars orbiter.

Latest update Oct 14, 2026

01

Overview

After flying Terran 1 as a 3D-printing pathfinder in 2023, the company shifted fully to Terran R, pairing large-scale additive manufacturing with conventional structures for scale and cost. As of the 12 October 2026 September company update, all 13 Flight 1 Aeon R engines are installed on the first-stage thrust structure and gimbal testing is underway. Stage 2 rolled onto NASA Stennis A2 with the Aeon V installed and completed a wet dress rehearsal ahead of the first hot fire, which has not been reported. Earlier in 2026 the stage-one structural qualification campaign was completed (420 pressure cycles, 62 load cases, and 4.3 million lbf of axial compression) and the flight-one second stage completed cryoproof and COPV manifold proof testing on A2. The LC-16 Horizontal Integration Facility at Cape Canaveral is structurally complete and pad infrastructure continues to come online, against a backlog of more than $3 billion across a dozen-plus customers including OneWeb Gen-2 and SES. In June 2026 NASA selected Relativity to privately develop a Mars orbiter (NASA supplies the Aeolus instruments; Relativity supplies the spacecraft, Terran R, and cruise operations, targeting a 2028 launch). On July 7, 2026 the U.S. Space Force added Relativity Federal to the NSSL Phase 3 Lane 1 national-security launch pool, and on September 9, 2026 NASA added Terran R to the Launch Services (NLS) II contract, making the still-unflown rocket eligible to bid on future NASA and NOAA missions through June 2030. On July 21, 2026 Relativity and Space Florida unveiled a statewide expansion anchored by a planned $350 million advanced-manufacturing and R&D campus in Titusville. The Terran R page still says launches from LC-16 start in late 2026. No Terran R vehicle operator license was found: FAA license VOL 23-127 authorizes Terran 1 only, and the 28 September 2026 Federal Register notice still says Relativity must obtain a license for Terran R commercial launch operations at SLC-16.

relativityspace.comUpdated Oct 14, 2026

02

What's next6

  1. 2026

    Complete stage hot-fire test campaigns

    With all Flight 1 engine acceptance testing complete and the stage-one structural qualification campaign finished, Relativity's next test milestone is still stage-level hot-fire: the fully engined first-stage thrust structure must be mated to the rest of Stage 1 and shipped to NASA Stennis, while the second stage (already through cryoproof and COPV proof testing on Stennis's A-2 stand) has its Aeon V engine installed and returns to the stand. As of September 11, 2026 Relativity's public updates page has posted no campaign after the July 2026 company update, and no Stennis hot-fire has been announced.

  2. 2026

    Bring LC-16 fully online for Terran R

    Finish outfitting the Horizontal Integration Facility, launch mount, and transporter-erector so Cape Canaveral operations are ready for first flight. The July 2026 company update said the HIF had been energized, a 270,000-pound assembly-room crane had completed its first proof-load test, and the transporter-erector upper strongback had arrived on site. As of September 11, 2026 Relativity has not posted a later pad-complete milestone.

  3. Late 2026

    Terran R first launch

    TargetLate 2026 (company); observers now expect 2027

    Complete integrated vehicle testing (including first-stage hot-fire at NASA Stennis) and launch Terran R from LC-16 at Cape Canaveral, proving the vehicle and beginning execution against a more than $3B launch backlog. Relativity's Terran R page still targets late 2026. As of September 11, 2026 no stage hot-fire or stacked-vehicle campaign has been publicly reported since the mid-August engine-install update, and September 10 reporting said industry observers now expect the debut in 2027. Relativity has not issued a public schedule revision. NASA's September 9 NLS II on-ramp makes Terran R eligible to bid on agency missions once it has a flight record.

  4. 2028

    Build and launch the Aeolus Mars orbiter

    Under a June 2026 NASA Space Act Agreement, Relativity privately develops the spacecraft, supplies Terran R, and runs cruise operations for the Aeolus Mars atmospheric-science orbiter, targeting a 2028 launch. NASA Ames provides the four-instrument payload and will support instrument operations for at least one Martian year. The mission is not an NLS II task order; NASA's September 9, 2026 NLS II on-ramp is a separate bidding path for future agency launches. The spacecraft work is gated on Terran R flying, which Relativity still targets for late 2026 while industry observers now expect 2027.

  5. Date not announced

    Obtain FAA vehicle operator license for Terran R at SLC-16

    TargetFAA vehicle operator license still pending after FONSI

03

Latest news7

  1. FAA clears Relativity Terran R environmental review at SLC-16

    The FAA signed a Finding of No Significant Impact and Record of Decision on September 17, 2026 for Relativity Space Terran R launch operations at SLC-16 at Cape Canaveral Space Force Station. The decision adopts the 2024 Space Force supplemental environmental assessment and supports issuing a vehicle operator license; it is not itself that license. The analysis covers a maximum of 24 launches a year, with first launch still described as 2026 in the FAA document.

    www.faa.gov talkoftitusville.com

  2. NASA adds Relativity Terran R to NLS II

    NASA on September 9, 2026 added Relativity Space's still-unflown Terran R rocket to the NASA Launch Services II contract under the program's annual on-ramp, making the vehicle eligible to compete for future agency launch task orders. NLS II is a multiple-award indefinite-delivery contract with an ordering period through June 2030 and performance through December 2032, and NASA can also use it for other agencies such as NOAA. The award does not assign a specific mission. Aviation Week noted the listing does not guarantee business.

    NASA Aviation Week

  3. Relativity Space installs first Aeon R engines on Terran R

    Relativity Space has begun installing the first Aeon R engines onto Terran R's first-stage thrust structure, which is built to hold 13 of the 3D-printed, LOX-methane engines for a combined liftoff thrust of about 3.5 million lbf. Every engine completed acceptance testing before installation; once the fully assembled thrust structure is mated to the rest of Stage 1 at Relativity's Long Beach facility, the integrated booster will ship to NASA's Stennis Space Center for hot-fire testing ahead of Terran R's targeted debut later this year.

    NASASpaceFlight.com

  4. Relativity Space to expand Terran R production on Space Coast

    Space Florida said on July 21 it signed an agreement to help finance a new Terran R production facility for Relativity Space near Cape Canaveral, making the company eligible for up to $134 million from the Florida Department of Transportation's Spaceport Improvement Program. Relativity is evaluating a site at Space Coast Regional Airport in Titusville for a manufacturing and research campus that could grow to $350 million and create thousands of jobs through 2034, alongside a commitment to expand test and launch infrastructure at Kennedy Space Center and Cape Canaveral Space Force Station. The expansion backs Relativity's reusable Terran R rocket, which is in the middle of a qualification testing campaign ahead of its debut launch.

    SpaceNews Space Florida

  5. Space Force adds Relativity Space to national-security launch pool

    The U.S. Space Force on July 7 onboarded Relativity Space's Relativity Federal subsidiary to the National Security Space Launch (NSSL) Phase 3, Lane 1 program, letting the company compete for task orders on lower-priority, less-demanding national-security missions. Relativity received an initial $5 million task order for risk and capability assessments, joining Impulse Space as the newest additions to the on-ramping launch pool. The award backs Relativity's partially reusable Terran R rocket - an 87-meter vehicle powered by 13 3D-printed Aeon R engines and rated for about 23,500 kg to low Earth orbit - which is targeting a first flight no earlier than late 2026.

    SpaceNews Air & Space Forces Magazine Breaking Defense

04

Products2

05

Key metrics

Employees
2,000

company About page as of 5 Oct 2026

Est. annual revenue
Pre-revenue

more than $3B contracted launch backlog

Pre-sold Launch Contracts

More than $3B across government, commercial, and telecom customers (incl. OneWeb Gen-2, SES)

NASA NLS II Status
Terran R added Sept 9, 2026

eligible to bid on NASA/NOAA missions through June 2030 (no mission assigned yet)

Flight 1 Aeon R installation

All 13 engines installed on the first-stage thrust structure (Aug 2026; posted Sep 11)

Terran R stage hot-fire / FAA license
No Stennis stage hot-fire reported

FAA license still pending after 28 Sep Federal Register FONSI notice

Terran R stage hot-fire / FAA license

No Stennis stage hot-fire reported as of 5 Oct 2026; FAA vehicle operator license still pending after 28 Sep Federal Register FONSI notice

Space Florida first-phase Florida expansion

10 Sep 2026 board authorized LC-16 infrastructure, payload processing and upper-stage testing; first phase estimated $565M capital and 590 jobs; conduit financing up to $26M

Terran R stage test and FAA license

Wet dress complete on Stennis A2 in the 12 October 2026 September update; stage hot fire not reported. No Terran R vehicle operator license identified; VOL 23-127 is Terran 1 only.

06

Operations & revenue

Operating status

Development Stage

As of 14 October 2026, Relativity's updates index lists the September 2026 company update, bylined 12 October, as the newest item. That update says Stage 2 completed a wet dress rehearsal on NASA Stennis A2 after the Aeon V was installed, ahead of the first hot fire. It does not report a stage hot fire. The Terran R page still says launches from LC-16 start in late 2026. FAA license VOL 23-127 authorizes Terran 1 flights from LC-16, not Terran R. The 28 September 2026 Federal Register notice still says Relativity must obtain a vehicle operator license for Terran R at SLC-16. The FAA active-license workbook was not opened; the Commercial Space Data page showed a 22 September 2026 update date and no license table.

Revenue streams

  • Terran R Launch Services

    Future launch services for commercial, government, national-security, and telecommunications customers flying on Terran R from Cape Canaveral, underpinned by more than $3B in launch service agreements (incl. OneWeb Gen-2 and SES). Relativity can compete for U.S. Space Force NSSL Phase 3 Lane 1 task orders (added July 7, 2026) and, as of September 9, 2026, for NASA NLS II missions. A June 2026 NASA Space Act Agreement also tasks Relativity with privately developing and launching the Aeolus Mars science orbiter in 2028.

  • Horizon Manufacturing Technologies

    Stand-alone advanced manufacturing business commercializing Relativity's large-scale additive manufacturing stack for energy, aerospace, and defense hardware.

  • Aeolus Mars orbiter (Interplanetary Sciences)

    Under a June 2026 NASA Space Act Agreement, Relativity privately develops the spacecraft, supplies Terran R, and runs cruise operations for the Aeolus Mars atmospheric-science orbiter, targeting a 2028 launch. NASA provides the four-instrument payload. The mission is not an NLS II task order; NASA's September 9, 2026 NLS II on-ramp is a separate bidding path for future agency launches.

07

Track record

How past announced dates turned out.

0/1announced date hit on time

  • 0 Hit
  • 1 Slipped
  • 0 Missed
  1. Slipped

    Complete a Terran R stage hot-fire at NASA Stennis

    Target Not started as of 29 Sep 2026; A2 still being readied · Resolved Oct 12, 2026

    The September 2026 company update, bylined 12 October 2026, says Stage 2 completed a wet dress rehearsal on Stennis A2 after Aeon V installation. That is not a stage hot fire. The prior target said the hot fire had not started and A2 was still being readied. A2 readiness and the wet dress are now done; the hot fire itself remains unreported and undated.

08

Timeline21

  1. 2026

    1. Stage 2 wet dress at Stennis; hot fire not reported

      Relativity's September 2026 company update, bylined 12 October 2026, said Stage 2 rolled onto NASA Stennis A2 after modifications for hot fire, the Aeon V engine was installed, a test readiness review was completed, and a wet dress rehearsal used flight-like propellant loads, COPV fills, engine chill, and a simulated stage-one ascent. The update places that work ahead of the first hot fire and does not report the hot fire. It also says gimbal testing of the 13 installed Aeon R engines is underway and the east lightning tower at Cape Canaveral reached 530 feet.

    2. Space Florida authorizes first-phase Terran R Florida infrastructure

      On 10 September 2026 Space Florida's board authorized FDOT funding negotiations for Relativity's Launch Complex 16 infrastructure, a payload processing facility and an upper-stage testing facility. Florida Today quoted CIO Ronald Lau that the multi-phase project covers Brevard County, Kennedy Space Center and Cape Canaveral, with first-phase capital investment of $565 million and 590 new direct jobs at average salaries of $86,000, and conduit financing slated to reach up to $26 million. The vote came one day after NASA added Terran R to NLS II. This is an authorization to negotiate, not a reported close of the bonds, and is distinct from the 21 July Farnborough announcement of a planned $350 million campus and up to $134 million FDOT SIP eligibility.

    3. FAA publishes Federal Register notice of Terran R FONSI/ROD availability

      On 28 September 2026 the FAA published a Federal Register notice of availability (91 FR 61274, FR Doc. 2026-19716) for the 17 September FONSI/ROD adopting the 2024 Space Force supplemental EA. The notice states Relativity is required to obtain a license from FAA to conduct Terran R commercial launch operations at SLC-16. It announces availability of the environmental decision and is not a vehicle operator license.

    4. All 13 Flight 1 Aeon R engines installed on Terran R thrust structure

      Relativity's August 2026 company update, posted 11 September, said technicians installed all 13 flight-one sea-level Aeon R engines onto the first-stage thrust structure at Long Beach. Each engine is rated 269,000 lbf SL for 3,497,000 lbf combined liftoff thrust. Stage 2 was back in the Stennis hangar after cryoproof and COPV proof, awaiting Aeon V installation ahead of hot fire. Flame-diverter work continued at LC-16 and the engineering support building opened. This does not complete stage hot-fire or issue an FAA vehicle operator license.

    5. FAA issues Terran R FONSI/ROD for SLC-16

      On September 17, 2026 FAA Manager Stacey M. Zee signed a FONSI/ROD adopting the 2024 Space Force supplemental EA for Terran R operations at SLC-16, Cape Canaveral. The decision supports issuing a vehicle operator license and is not itself that license. The analysis covers a maximum of 24 launches a year.

    6. NASA adds Terran R to NLS II launch-services contract

      On September 9, 2026 NASA awarded Relativity Space an NLS II contract for Terran R under the program's annual on-ramp, making the still-unflown rocket eligible to compete for future NASA launch task orders (and launches NASA procures for other agencies such as NOAA). The multiple-award IDIQ runs through an ordering period ending June 2030 and a performance period through December 2032. The award does not assign a specific mission; Relativity's already-announced Aeolus Mars orbiter remains a separate Space Act Agreement targeting 2028.

    7. Stage-one qualification complete; all Flight 1 engines pass acceptance testing

      By mid-August 2026 Relativity completed the Terran R stage-one structural qualification campaign (420 pressure cycles across 62 load cases, including 4.3 million lbf of axial compression on a full, pressurized tank), and the flight-one second stage completed cryoproof and COPV manifold proof testing on NASA Stennis Space Center's A-2 test stand, formally activating that stand. With the Aeon V second-stage engine finishing acceptance testing alongside the already-qualified 13 Aeon R first-stage engines, all Flight 1 engine testing for Terran R's debut is now complete, and Relativity continued actively hiring propulsion-test and infrastructure engineers to scale the program.

    8. First Aeon R engines installed on Terran R's thrust structure

      In early August 2026 Relativity began installing the first Aeon R engines - four outer fixed engines under the landing legs plus nine center gimballed engines, all already acceptance-tested - onto Terran R's first-stage thrust structure using custom ground support equipment. Once fully populated, the thrust structure will be rotated into place and mated to the rest of Stage 1 hardware at Relativity's Long Beach facility before the integrated booster ships to NASA's Stennis Space Center for hot-fire testing.

09

Funding

$1.3Bdisclosed across 3 rounds with a stated amount

Cumulative disclosed raise · dated rounds

$500M$1B$1.5B20202021$1.3B raised
  1. Series C

    2019

    $140M

    Bond, Tribe Capital, Playground Global, Y Combinator, Social Capital

  2. Series D

    2020

    $500M

    Tiger Global, Fidelity, Baillie Gifford, ICONIQ Capital, General Catalyst

  3. Series E

    2021

    $650M

    Fidelity, BlackRock, Coatue, Baillie Gifford, Tiger Global

All Rockets