Rocket Lab launched its first-ever dedicated mission for the European Space Agency on Friday night, sending a pair of navigation test satellites into orbit from New Zealand. The Electron rocket lifted off from Launch Complex 1 at 10:14 p.m. NZT on March 28, carrying ESA’s “Celeste” payload to a low Earth orbit at 510 km altitude.
Electron delivers 'The Daughter Of The Stars' to orbit for the European Space Agency @esa.
85th Electron launch and 6th mission of the year.
— Rocket Lab (@RocketLab) March 29, 2026
The mission was called “Daughter Of The Stars.” It marks Rocket Lab’s sixth launch of 2026 and the 85th overall for its Electron vehicle.
The two satellites will test whether a low Earth orbit constellation can work alongside Europe’s Galileo navigation system, which operates in medium Earth orbit. The goal is to improve positioning accuracy across Europe for uses including autonomous vehicles, maritime navigation, and emergency services.
The spacecraft were built by two European consortia — one led by GMV in Spain and the other by Thales Alenia Space in France.
RKLB stock was up around 2% in Monday premarket trading following the announcement.
The stock is down 13% year-to-date, pressured by broader risk-off sentiment and an ongoing U.S.-Iran conflict. Over the past 12 months, however, it is up 231%.
Beyond this launch, Rocket Lab recently secured a $190 million contract from the U.S. Department of War for 20 hypersonic test flights using its HASTE launch vehicle. That is the company’s largest-ever single contract.
The deal pushed Rocket Lab’s total backlog past $2 billion.
Looking ahead in 2026, the company has missions lined up covering commercial Earth observation, national security payloads, international space agencies, and hypersonic technology development.
All of that activity comes ahead of the much-anticipated first launch of Rocket Lab’s larger Neutron rocket, currently expected in late 2026.
Neutron is designed to compete in the medium-lift market, targeting reusable launches for larger commercial and government payloads.
Wall Street holds a Moderate Buy consensus on RKLB, based on nine Buy ratings and four Holds. The average price target sits at $89.36 — implying roughly 47% upside from current levels.
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