Firefly Aerospace (Nasdaq: FLY) has extended its multi-launch agreement with Lockheed Martin through 2031, covering up to 25 dedicated launches using the Alpha Block II rocket configuration, according to a company statement.

The two-year contract extension builds on an existing multi-launch arrangement between the two companies. The Alpha Block II is described as an upgraded version of Firefly's current Alpha rocket, designed to improve manufacturability, reliability, and production rate.

"This extension reflects Firefly's continued support to Lockheed Martin and their critical missions anchored by our Block II configuration, which is the next evolution of our launch capabilities," said Jason Kim, CEO of Firefly Aerospace. "This upgraded configuration allows us to increase Alpha's production rate and fills a void at a time when launch options are in high demand, but payload capacity is scarce and launch site diversity is limited."

The Alpha Block II is also intended to support tactically responsive space missions, hypersonic testing, and commercial satellite launches for domestic and international customers.

Separately, Firefly and Lockheed Martin are collaborating with Seagate Space on sea-based launch solutions using Seagate's Gateway offshore launch platform. The three companies are working on mission-application concepts and flight-demonstration projects aimed at supporting national security missions from multiple launch locations.

Firefly Aerospace is based in Cedar Park, Texas, and operates engineering, manufacturing, and test facilities in central Texas.