Space — your financial frontier? Rocket Lab in hiring mode
Rocket Lab will hire at least 110 more staff in NZ by 2023 after expanding into its new, 2200sq m R&D facility in Auckland, founder Peter Beck says.
The new facility — which sits on the site formerly occupied by 2 Cheap Cars — will carry out research and development work for projects across the company’s entire operation — including its new, much larger Neutron Rocket.
While the high-tech labour market is tight, his company’s market position, plus inhouse training and apprenticeship programmes, will help in the new recruitment drive, says Beck — who has a reputation as a harddriving boss, if also one who has turned more than 100 staff into millionaires.
Despite the challenging labour market worldwide, Rocket Lab has managed to bring in around 300 staff worldwide so far this year. Beck says the pandemic continues to complicate things in New Zealand but “in the US it’s over” in terms of causing any business friction.
Rocket Lab currently has around 1400 staff, with a majority in North America for the first time since its acquisition of New Mexico-based Solaero and its 425 staff for US$80 million ($127m) earlier this year.
There are currently around 600 staff in NZ, with hiring in progress.
The Kiwi-american firm is currently advertising for 36 roles in Auckland from avionics engineers to software developers to business intelligence analysts and payroll, one electrical and two mechanical roles at Launch Complex One in Mahia.
It’s also looking to hire 74 people across its head office in Long Beach, California and its facilities in Colorado, Maryland, Virginia and Toronto.
The Nasdaq-listed firm — which has now accumulated US$551M in forward bookings — continues to expand at pace in the US, where in April it broke ground on the 23,000sq m Virginia manufacturing and mission control facility for the Neutron (buoyed by a US$45M subsidy from the US state and a US$24M US military grant), recently completed Launch Complex 2 at Nasa’s nearby Wallops Island (which Beck says will stage its first Electron launch by year’s end) and is building a new facility in Colorado (where it bought Advanced Solutions, a maker of systems that help control space mission operations) that will quadruple its facilities in the US state to 5100sq m.
But Beck emphasises the company is also growing at home. It has now increased its New Zealand footprint 250 per cent to some 26,600sq m since moving into the company’s Mt Wellington production complex in 2018.
“We now own almost the entire block,” Beck told the Herald.
Rocket Lab has also added a second launch pad at Launch Complex 1 in Mahia, to allow for faster turnaround missions — and is set to break its fast-turnaround record with two launches in two days if its next launch on July 22 goes ahead as scheduled.
Rocket Lab’s Auckland facility is now its largest, ahead of its 14,300sq m operation in Long Beach, which houses its corporate headquarters, plus its Rutherford engine and avionics manufacturing lines.
There is plenty of R&D to go around all the facilities now that Rocket Lab has expanded beyond Electron launches into space systems and, with its Capstone and upcoming Mars missions for Nasa, interplanetary missions. The James Webb Space Telescope that went into operation earlier this month is powered by solar panels made by Solaero.
The growth in footprint and headcount is also driven by engineering and design development support for Rocket Lab’s new large Neutron rocket, acceleration of the Electron rocket reusability rocket programme, and a new high-volume production line to manufacture satellite components for large-scale constellations, Beck says.
The new facility is situated beside Rocket Lab’s existing Auckland Production Complex (APC) in Mt Wellington, a state-of-the-art complex that houses large-scale robotics and extensive manufacturing capability to enable mass production of the Electron rocket, a global Mission Control Centre to support Electron launches and spacecraft operations, and office space.
Late last year, Rocket Lab expanded its Mt Wellington facility to add a high-volume production line for reaction wheels, a critical component for many small satellites.
The reaction wheel production line will produce up to 2000 units per year in support of the company’s growing space systems operations with advanced metal machining centres, automated production tools, and automated environmental testing workstations, Beck says.
“Our Auckland Production Complex is key to us being able to both launch more frequently, by building more Electrons faster or reflying them as our rocket reuse technology advances, and scaling our space systems division across our global locations — while at the same time, tapping into homegrown talent to work on world-leading technology and global missions.
“The growth of our operations in New Zealand will bring more hightech jobs to the country and support the economic growth of both our local space industry and the Auckland region.”
Rocket Lab shares were up 0.74 per cent to US$4.09 in late Nasdaq trading.