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Rocket Lab flies the Electron small launcher and is building the Neutron medium-lift rocket; Relativity Space is building the Terran R medium-to-heavy-lift rocket. Here is how the two compare, with sources.
| Metric | Rocket Lab | Relativity Space |
|---|---|---|
| Founded | 2006 | 2015 |
| Headquarters | Long Beach, CA (launch complex and factories also in New Zealand) | Long Beach, CA |
| CEO | Sir Peter Beck (founder) | Eric Schmidt (since March 2025; took a controlling stake) |
| Employees | Over 2,600 full-time (Dec 31, 2025) | About 2,000 (company website, Oct 2026) |
| Private funding on record | $158M raised privately before listing | $1.3B raised privately |
| Valuation / Market Cap | ~$40.1B (RKLB, NASDAQ) | Private (est. $4.2B, June 2021 round) |
| Public Status | Public (NASDAQ: RKLB, since August 2021) | Private |
| Primary Vehicle | Electron (operational); Neutron (in development) | Terran R (in development; first launch targeted late 2026) |
| Previous Vehicle | N/A | Terran 1 (one launch, March 2023, did not reach orbit; retired) |
| Launches (career) | Electron: 97 incl. suborbital HASTE, 93 successful (through 26 Sep 2026) | 1 (Terran 1, did not reach orbit) |
| LEO Payload Capacity | 300 kg (Electron); 13,000 kg (Neutron, reusable, in development) | 23,500 kg (Terran R with downrange booster landing; 33,500 kg expendable) |
| Reuse Strategy | Electron boosters have been recovered from the ocean (one briefly caught by helicopter in May 2022); Neutron first stage designed to land on a sea platform | Terran R reusable first stage with downrange landing (planned) |
| Revenue (FY2025) | $601.8M (up 38%; space systems $402.8M, launch $199.0M) | Not publicly disclosed (private) |
| Manufacturing Approach | Carbon composite structures; 3D-printed Rutherford engines | Terran R built from aluminum alloys; moved away from 3D printing for parts such as fuel tanks |
Figures as of Sep 4, 2026 (auto-updated daily from company profiles). Information only, not investment advice. Full disclaimer
Rocket Lab is the company with flight heritage: Electron had flown 97 times (counting its suborbital HASTE variant) through 26 September 2026, 93 of them successful. Rocket Lab listed on Nasdaq as RKLB in August 2021 through a SPAC merger. Its FY2025 revenue was $601.8 million, up 38%, and space systems (spacecraft and components) made up $402.8 million of it, more than launch. Its next vehicle, Neutron, is a reusable medium-lift rocket designed to carry about 13,000 kg to low Earth orbit; in August 2026 Rocket Lab said it was targeting delivery of Neutron to the launch pad in the fourth quarter of 2026.
Relativity Space, founded in 2015, set out to build rockets largely by 3D printing. Its Terran 1 launched once, on March 23, 2023, and failed to reach orbit; Relativity then retired it and turned to Terran R. Terran R is built from aluminum alloys, and the company has moved away from additive manufacturing for parts such as fuel tanks. In March 2025 former Google CEO Eric Schmidt became chief executive after taking a controlling stake. Relativity says Terran R will lift 23,500 kg to low Earth orbit with a downrange booster landing, will launch from Launch Complex 16 at Cape Canaveral starting in late 2026, and has more than $3 billion in launch service agreements. Until Terran R flies, Rocket Lab is well ahead in flight heritage.
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