The acquisition aims to integrate AI-driven autonomous navigation into Firefly’s lander and orbital vehicle programs, per Jefferies.
Firefly Aerospace (NASDAQ:FLY) will acquire Space-ng to enhance its AI-based autonomous navigation and optical guidance systems. The deal targets integration across the Blue Ghost lander and Elytra orbital vehicle programs, strengthening GPS-independent navigation and in-house software capabilities.
Jefferies maintains a Buy rating on FLY with a $52 price target, while KeyBanc upgraded the stock to Overweight on June 15, citing structural supply constraints and NASA’s accelerated activity. Both firms highlight Firefly’s exposure to national security and commercial space demand.
The acquisition follows a sector-wide selloff after SpaceX’s IPO, with analysts favoring well-capitalized space companies amid rising satellite and defense-related opportunities.