Katalyst's Link Satellite Spins Out of Control on NASA Swift Rescue Mission

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The briefing

The Katalyst Space Link spacecraft, launched July 3 on a $30 million NASA contract to reboost the aging Swift gamma-ray observatory, has entered a multi-axis spin after two of its three reaction wheels stopped functioning and its cold-gas thruster system suffered partial failure. Katalyst is using Link's gimbaled electric propulsion thrusters, orbit-raising hardware pressed into attitude-control duty, to slow the spin. Without a successful rendezvous in the coming months, Swift will reenter and burn up, closing out a 22-year astrophysics mission and testing NASA's willingness to bet future science on fast-turn commercial servicing contracts.

Boeing took a $280 million second-quarter charge on the VC-25B Air Force One program, pushing cumulative losses past $3 billion on a fixed-price contract with a $3.9 billion ceiling. CEO Kelly Ortberg tied the charge to added production and certification resources to hold a 2028 delivery, and said Starliner's next flight, a cargo-only mission to the International Space Station (ISS), remains unscheduled while Boeing works with NASA on a manifest slot. Amazon's July 24 FCC filing for a 5,105-satellite direct-to-device system on Globalstar spectrum keeps the D2D race widening, with launch capacity the binding constraint on its Leo rollout.

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The headlines

Katalyst's Link satellite spins out of control on Swift rescue mission

Katalyst Space Technologies' Link satellite, launched July 3 on a Northrop Grumman Pegasus XL under a $30 million NASA contract, entered a multi-axis spin after two of its three reaction wheels failed and its cold-gas reaction control thrusters degraded. Katalyst is firing Link's gimbaled electric propulsion thrusters, which were built for orbit-raising and are now holding attitude, to slow the spin ahead of a planned rendezvous with the Neil Gehrels Swift Observatory, which will reenter without intervention.

Boeing still hunting a launch slot for uncrewed Starliner cargo flight

SpaceX BA

Kelly Ortberg told analysts that Starliner remains the last fixed-price defense and space program Boeing needs to get on track, and that the redesign of the thruster and helium-leak issues from the 2024 Crew Flight Test is going well. The next mission, Starliner-1, is now a cargo-only flight and its timing depends on where NASA can slot it in an already busy ISS manifest, with launch opportunities still under review.

Amazon files for 5,105-satellite D2D system on Globalstar spectrum

SpaceX AMZN

Amazon asked the FCC on July 24 to authorize up to 5,105 low Earth orbit satellites for its Amazon Leo Direct-to-Device System, running on spectrum tied to its pending $11 billion-plus Globalstar acquisition and inheriting Globalstar's existing Apple relationship. Amazon plans to begin D2D launches in 2028 in parallel with its Gen 1 broadband constellation, which has 390-plus satellites in orbit against a July 2029 deadline for 3,232 first-generation spacecraft after the FCC scrapped an interim milestone in June.

Rocket Lab lands $266M Space Force suborbital deal, opens Alaska site

RKLB

Rocket Lab confirmed a $266 million multi-launch agreement with Space Systems Command for 12 suborbital missions with options for six more, its largest launch contract to date. The company will open a fourth launch site at the Pacific Spaceport Complex-Alaska in Kodiak, with flights potentially beginning by year-end, positioning HASTE as a preferred vehicle for missile defense and hypersonic testing tied to depleted US missile stockpiles and Golden Dome test demand.

Xingchen Daohe raises $14.8M for Chinese SSA constellation

Beijing-based Xingchen Daohe, or Stars Harmony, secured roughly 100 million yuan ($14.8 million) on July 22 to build its Guanlan space situational awareness constellation, with backers including the Beihang Tianhui incubator, Zhenghan Capital, QDGF Ventures and state-linked Changsha Chengfa. The round joins a broader Chinese commercial SSA push that includes Geovis Insighter's planned 156-satellite fleet and Aotian Technology's July 24 launch of the Gande-1 debris-monitoring satellite on a Kinetica-1 rocket.

ESA opens tender to repurpose Gateway's Lunar Link as standalone comms asset

The European Space Agency issued an invitation to tender on July 27 for up to two parallel firm-fixed-price contracts worth up to €3 million each to study repurposing Lunar Link, the Thales Alenia Space-built communications system originally intended for NASA's now-paused Gateway station, as a standalone cislunar communications satellite. Thales Alenia Space France is a mandatory subcontractor, and the studies target a launch in the fourth quarter of 2029 to serve as a precursor to ESA's Moonlight lunar comms and navigation program.

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Research

The robot NASA hired to lift a orbital telescope tumbled out of control

According to NASA, two of the three reaction wheels that control the spacecraft's alignment have failed, and there are problems with one of the spacecraft's thruster systems.

Swift reboost mission encounters attitude control problems

A spacecraft launched nearly a month ago in a high-risk bid to boost the orbit of a NASA astrophysics satellite is suffering attitude control problems that could jeopardize its mission.

[ 04 / +32 / -5 ]

Market pulse

Archived snapshot from this edition. Prices and moves are not live.

Gainers+32

Decliners-5

Big mover GSAT+4.1%

Globalstar led the delayed public space-market snapshot at +4.1%, consistent with fresh detail on Amazon's FCC filing to build a 5,105-satellite direct-to-device system on Globalstar spectrum tied to its pending acquisition.

Asset	Snapshot	Move
GSATGlobalstar	$83.38	+4.1%
CRSCarpenter Technology	$519.66	+3.2%
ATIATI	$187.44	+3.0%
YSSYork Space Systems	$14.73	-3.5%
DCODucommun	$179.02	-2.4%
BABoeing	$216.14	-2.2%

[ 05 / 4 tracked ]

Launch watch

Schedule and countdowns as recorded in the 2026-07-29 edition.

T-6D 09H

Long March 8A

CASC · Long March 8A · Commercial LC-1 · Wenchang Space Launch Site

T-6D 14H

Falcon 9 Block 5 | Starlink Group 17-53

SpaceX · Falcon 9 Block 5 · SLC-4E · Vandenberg SFB · LEO

T-7D 03H

Smart Dragon 3

China Rocket Co. Ltd. · Smart Dragon 3 · Haiyang offshore launch location · Haiyang Oriental Spaceport

T-7D 08H

Falcon 9 Block 5 | BlueBird 11-13 (Block 2 #6-8)

SpaceX · Falcon 9 Block 5 · SLC-40 · Cape Canaveral SFS · LEO

[ 06 / 5 in window ]

Filings

8-K

Park Aerospace Corp. · 8-K

2026-07-28 · Park Aerospace disclosed that all six director nominees were reelected at its July 21 annual meeting, with shareholders also approving executive compensation on an advisory basis and ratifying CohnReznick as auditor.

8-K

Satellogic Inc. · 8-K

2026-07-28 · Satellogic said CFO Rick Dunn will step down on August 21, with SVP Corporate Controller Dustin Greer expected to serve as interim CFO if a permanent successor is not named by that date.

8-K

Carpenter Technology Corporation · 8-K

2026-07-28 · Carpenter Technology disclosed that President and CEO Brian J. Malloy died suddenly on July 24, and that Tony R. Thene has been reappointed Chairman, President and CEO, resuming the roles he held through June 2026.

8-K

The Boeing Company · 8-K

2026-07-28 · Boeing reported second-quarter 2026 results that included a $280 million charge on the VC-25B Air Force One replacement program, disclosed alongside its 10-Q for the quarter ended June 30, 2026.

Form 4

Park Aerospace Corp. · Form 4

2026-07-28 · Park Aerospace Corp. filed a Form 4 ownership update: Constantine Petropoulos (See Remarks) reported 2,500 shares acquired and 5,000 shares disposed at $14.00-$36.00 (7,500 options after). These filings are routine insider-ownership disclosures, not operating updates.

[ End of Issue 043 ]

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