Firefly Aerospace is expected to secure a $110 million U.S. EXIM loans to expand spacecraft production in Texas as competition in the space sector intensifies.
Firefly Aerospace is expected to secure a $110 million loan from the U.S. Export-Import Bank (EXIM) to help in the the expansion of its spacecraft production facilities in Texas, according to Reuters.
The loan is part of EXIM’s broader initiative to help U.S. companies strengthen their global competitiveness in strategic sectors including space and artificial intelligence.
Austin-based Firefly recently gained attention after becoming the first private company to successfully land a spacecraft on the moon with its uncrewed Blue Ghost mission. The company also launches satellites using its Alpha rocket and builds satellite platforms for space missions.
According to Reuters, the loan is expected to carry a 12-month availability period and a 10-year repayment term. Firefly’s planned expansion in Texas could create around 200 jobs.
The move comes as global competition in satellite and spacecraft production continues to intensify, driven by growing demand for connectivity and national space capabilities.
Reuters noted that companies including SpaceX, Blue Origin and Rocket Lab are expanding aggressively in the sector with lower-cost satellite and spacecraft production.
A Firefly spokesperson did not immediately respond to Reuters’ request for comment.
