Redwire Corporation (NYSE: RDW) shares eked up starting out Monday, as the company, a leader in space infrastructure for the next generation space economy, announced today the strategic expansion of its in-space manufacturing technology portfolio with the first pathfinder mission for its autonomous semiconductor manufacturing platform, MSTIC. MSTIC will launch to the International Space Station (ISS) onboard Northrup Grumman’s 20th cargo resupply services mission (NG-20).
Semiconductors are an essential component that enable many of the devices that are used in modern life, such as smartphones, computers, automobiles, medical devices and more. The global semiconductor market was valued at over $600 billion in 2022, with experts forecasting that the market will reach over $1 trillion by 2030. Current challenges within the semiconductor supply chain, including geopolitical risk and complex manufacturing processes, present an opportunity for innovation and increasing domestic production.
“We are strategically expanding our space manufacturing capabilities to reach new markets and drive innovation that could support U.S. leadership in the global semiconductor ecosystem. This pathfinder mission represents an exciting step to validate space-based manufacturing processes that could deliver superior components beyond what is capable on Earth, which could have real impact on semiconductor supply chains,” said John Vellinger, President of Redwire’s In-Space Industries.
RDW gained three cents, or 1%, to $2.91.
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