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Two small launch companies founded in 2017 with sharply different outcomes. Firefly reached orbit, went public in 2025 and is building the larger Eclipse with Northrop Grumman, while ABL Space (now Long Wall) left commercial launch after one failed launch and the loss of a second rocket, and turned to missile defense.
| Metric | Firefly Aerospace | ABL Space Systems |
|---|---|---|
| Founded[1,4,5] | 2017 (as Firefly Aerospace, after predecessor Firefly Space Systems was liquidated in March 2017) | 2017 (as ABL Space Systems) |
| Founder / CEO[2,4,5] | Founder: Tom Markusic; CEO: Jason Kim (named Aug 2024) | Founders: Harry O'Hanley and Dan Piemont; CEO: Dan Piemont |
| Headquarters[1,5] | Cedar Park, TX | Long Beach, CA (originally El Segundo) |
| Employees[1] | 1,409 full-time (Dec 31, 2025) | Not disclosed (private) |
| Publicly Traded[1,5] | Yes (Nasdaq: FLY, since Aug 8, 2025) | No (private, as Long Wall) |
| Private funding on record | $636M raised privately before listing | $460M raised privately |
| Key Investor / Partner[1,6] | AE Industrial Partners (about 36.9% of shares, Dec 31, 2025); Northrop Grumman ($50M equity investment, Eclipse partner) | Lockheed Martin chose ABL for the UK Pathfinder launch (2021); ABL claimed over 70 launch agreements |
| Primary Vehicle[1,6] | Alpha (small launcher, operational) | RS1 (retired) |
| LEO Payload Capacity[3,6] | 1,030 kg | 1,350 kg (claimed; never reached orbit) |
| First Stage Engines[1,6] | 4x Reaver (tap-off cycle) | 9x E2 (Block 1; 11 on Block 2) |
| Upper Stage Engine[1,6] | 1x Lightning | 1x E2 Vacuum |
| First Orbital Attempt[4,6] | Sept 2021 (failed: flight terminated after an anomaly) | Jan 10, 2023 (failed: a fire damaged harnessing and all engines shut down 11 seconds after liftoff) |
| First Successful Orbit[1,6] | Oct 2022 (Alpha Flight 2) | None |
| Launches (as of Oct 2026)[3,6] | 7 (Sep 2021 to Mar 2026), 4 successful | 1 (failed); a second RS1 was destroyed after a static-fire test on July 19, 2024 |
| Launch Site(s)[1,6] | Vandenberg SFB; pads under construction at Wallops Island, VA and Esrange, Sweden | Pacific Spaceport Complex, Kodiak, AK (LP-3C) |
| Status (Oct 2026)[3,5,6] | Operational: Alpha returned to flight on March 12, 2026, after an April 2025 failure | Left commercial launch (Nov 2024); renamed Long Wall (Feb 2025) and focused on missile defense |
| Next Vehicle[1,2,5,6] | Eclipse (reusable first stage, 16,000 kg to LEO, with Northrop Grumman; first launch planned from Wallops Island) | RSX, an RS1-based vehicle for flight testing and threat replication |
| Government Contracts (examples)[1,5] | U.S. Space Force VICTUS NOX responsive launch (Sep 2023); NASA VADR launch of INCUS from Wallops | $60M U.S. Space Force and Air Force contract (Mar 2023) |
| Other Products[1,5] | Blue Ghost lunar lander (landed Mar 2, 2025) and Elytra spacecraft | Ironwood deployable ground support equipment |
Figures as of Aug 12, 2026 (auto-updated daily from company profiles). Information only, not investment advice. Full disclaimer
Firefly Aerospace had its own near-death experience: its predecessor, Firefly Space Systems, furloughed its staff in October 2016 and was liquidated in March 2017, when Noosphere Ventures bought the assets and re-created the company as Firefly Aerospace. Alpha's first launch, in September 2021, was terminated after an anomaly; the second, in October 2022, reached orbit. Alpha flew a record-setting responsive launch for the U.S. Space Force (VICTUS NOX, September 2023), has a NASA VADR launch booked, failed in April 2025 and returned to flight on March 12, 2026. Firefly also builds the Blue Ghost lunar lander, which landed on March 2, 2025, and the Elytra spacecraft.[1,3,4]
ABL Space Systems drew attention with a containerized launch system designed to set up a launch site quickly, and claimed over 70 launch agreements, including Lockheed Martin's UK Pathfinder mission. Its first orbital attempt, on January 10, 2023 from Kodiak, Alaska, failed when a fire damaged key harnessing and the engines shut down 11 seconds after liftoff. The rocket for the second attempt was damaged beyond repair in a fire after a static-fire test on July 19, 2024. ABL then left commercial launch and, in February 2025, renamed itself Long Wall to focus on missile defense.[5,6]
Firefly's biggest partnership is with Northrop Grumman. Announced in August 2022, Eclipse builds on Alpha's technology and Northrop Grumman's Antares rocket, is supported by a $50 million Northrop Grumman equity investment, and is designed to deliver 16,000 kg to low Earth orbit with a reusable first stage. Its first launch is planned from Wallops Island, Virginia. Firefly's largest shareholder is AE Industrial Partners, which owned about 36.9% of its stock at the end of 2025.[1,2]
ABL also won a $60 million U.S. Space Force and Air Force contract in March 2023 for rapid-response launch. As Long Wall it now makes RSX, a vehicle based on RS1 for flight testing and threat replication, and Ironwood, deployable ground support equipment.[5,6]
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