Rocket Lab USA stock rose over 3% in early premarket trade on Wednesday after the launch services provider signed a multi-launch deal with the Institute for Q-shu Pioneers of Space.

The company stated that the contract includes three dedicated launch missions involving its Electron rocket, which will launch no earlier than 2026 from Rocket Lab Launch Complex 1 in New Zealand. This marked a new contract with the Japanese satellite company, bringing the total number of Electron launches scheduled for IQPS to seven.

“Each dedicated launch will deploy a single synthetic aperture radar (SAR) satellite from a Rocket Lab Motorized Lightband separation system – demonstrating Rocket Lab's vertical integration across launch and space systems that improves reliability and streamlines the launch process for its customers,” the company said in a statement.

Retail sentiment on Stocktwits about Rocket Lab USA was in the 'bullish' territory at the time of writing.

Rocket Lab's next launch for IQPS is scheduled for November. The company is one of the handful of firms, alongside Jeff Bezos-backed Blue Origin, to secure a larger share of the satellite launch market, where Elon Musk's SpaceX holds a dominant position.

“The company just continues to secure new/additional near-term contracts [2025/26], scaling its core business,” one trader said.

The IQPS contract follows another deal with the Japanese firm Synspective for an additional 10 dedicated launches of its Electron vehicles.

The company is also working on a larger rocket, Neutron, meant for launching groups of satellites. Rocket Lab's spacecraft have been chosen for major space missions, including NASA's journeys to the Moon and Mars.

Rocket Lab stock has more than doubled this year.

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