Redwire Corp (RDW) may not be a household name yet, but it’s quickly becoming one to watch in the space economy.
The Jacksonville-based aerospace firm announced this week that it developed and delivered the onboard computer for the European Space Agency’s (ESA) Comet Interceptor.
It’s a first-of-its-kind spacecraft designed to rendezvous with a comet traveling from the outer solar system.
The computer, built by Redwire’s wholly owned Belgian subsidiary Redwire Space NV, will act as the “brain” of the mission, transmitting critical data to ground operators and managing key in-space functions.
“We are proud to have accomplished this exciting milestone alongside our partners OHB Italy and ESA, which brings the first-of-its-kind Comet Interceptor mission one step closer to launch,” said Mike Gold, Redwire’s President of Civil and International Space.
But that’s not the company’s only recent win.
Just last week, Redwire announced it had secured another ESA contract — this time with SpaceTech GmbH — to provide avionics technology for the Next Generation Gravity Mission (NGGM), part of the joint NASA-ESA satellite constellation known as MAGIC.
That mission will use four satellites to track changes in Earth’s gravitational field, providing valuable insight into floods, droughts, ice melt, and sea level rise.
Redwire will design and deliver the Instrument Control Unit (ICU), the component responsible for managing the spacecraft’s Earth-observing instrumentation.
“Our avionics technology continues to enable Europe’s most game-changing missions,” Gold said.
Redwire is betting on defense contracts next
The back-to-back contract announcements sparked a buying spree on Wall Street.
Redwire stock jumped 22.54% on Tuesday, and it's now up 216.7% over the past year, lifting its market cap past the $1 billion mark.
The rally follows a series of strategic moves by Redwire that caught Wall Street’s attention earlier this year, including its acquisition of drone maker Edge Autonomy, which expanded the company’s capabilities into unmanned systems for defense and intelligence.
“I think the DoD contracts might be something here to consider as a catalyst,” said Schwab Network’s George Tsilis back in February, citing Redwire’s growing national security footprint.
Redwire CEO Peter Cannito highlighted that in the company’s latest earnings call. Drones, he said, have “proven themselves… as a force multiplier in combat,” citing the war in Ukraine as a wake-up call for Western defense agencies.
At last year’s AUSA summit, Cannito noted, discussions were dominated by how drones — and their integration with satellite and space-based systems — will define the battlefield going forward.
“That’s why we started looking at Edge Autonomy,” Cannito said. “We saw those trends and wanted to engage… These drones are going to be closely integrated into a multi-domain mission environment that’ll include space as well.”
With ESA contracts stacking up and a strong foothold in next-gen military tech, Redwire could be a surprise winner in the new space race.
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