Outer space

Boeing-Lockheed's Vulcan rocket design 'nearly fully mature'

A joint venture between Boeing Co (BA.N) and Lockheed Martin Corp (LMT.N) will conduct the final design review for its new flagship Vulcan rocket within months, it said on Wednesday, as the aerospace company heads for a showdown with Elon Musk’s SpaceX and others in the launch services market.

The final design review is a crucial milestone as the company, United Launch Alliance (ULA), tries to move into full production ahead of a first flight in spring 2021 after slipping from its initial 2019 timetable.

“The design is nearly fully mature,” ULA systems test engineer Dane Drefke told Reuters during a tour of Space Launch Complex 41 at Cape Canaveral Air Force Station in Florida.

The companies are vying to develop rockets to carry satellites into orbit in what the Satellite Industry Association lobby group estimates is a roughly $5.5 billion satellite launch services market.

ULA has started cutting and building hardware and has begun structural and pressure testing at its Decatur, Alabama factory. Engineers were also modifying the Florida launch pad and tower to accommodate Vulcan.