On February 27, 2025, Rocket Lab revealed “Return On Investment”, the first platform for the landings on the ocean of the future Neutron medium-lift reusable launch vehicle.
The announcement was made as part of the fourth quarter 2024 financial results presentation. A year of significant successes for the company, including revenue growth, new contracts, space launches, and the development of new assets.
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Return On Investment
For the development of its first sea-based landing platform, Rocket Lab seems to have followed the same path as SpaceX, which built the Falcon 9 droneships by converting existing barges.
Return On Investment is being developed on the Oceanus barge, which was acquired by the company. The platform is currently ongoing modifications, including station-keeping thrusters, blast shielding, and ground equipment to secure the landed rocket — probably a system similar to SpaceX’s Octagrabber robot.
According to Rocket Lab, the platform is expected to enter service in 2026. The first Neutron launch, scheduled in 2025, plans to test the kading procedure on water without recovery.
The asset will enable Rocket Lab to offer two possible reusable mission profiles for Neutron. The first involves a Return to Launch Site (RTLS), while the second includes a Downrange Landing (DRL) of the first stage at sea.
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Neutron development
Rocket Lab has also provided the usual updates on the hardware development of its future heavier rocket. As previously announced, the construction of the launch site is ongoing as planned at Launch Complex 3 within NASA’s Wallops facility.
In December 2024, the company completed the installation of the launch mount and the water deluge system on the pad.
Neutron’s Hungry Hippo fairing is alive.
— Rocket Lab (@RocketLab) February 27, 2025
These two halves remain attached to Neutron’s first stage, opening up to let the second stage and payload through, before closing up again and landing back on Earth ready for reuse. pic.twitter.com/o8FZfAQbdP
Yesterday, Rocket Lab shared a video of the opening test of Neutron’s Hungry Hippo, an innovative fairing system that remains attached to the first stage and, after releasing the second stage, will close up, ready to be reused.
The production and qualification of all the first flight hardware is continuing with full vehicle assembly as the next major step. Production of second launch hardware is underway in parallel.
At the same time, Rocket Lab is proceeding with the development and testing of the Archimedes engine. Neutron’s first stage will feature nine of them. In 2024, through performance iterations on the production line, the company achieved a remarkable 200kg mass reduction per engine.
The maiden liftoff of Neutron is still scheduled for the second half of this year.
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A positive year for Rocket Lab
2024 has been a significant year for Rocket Lab, with a 78% increase in profit compared to the previous year and an impressive 121% growth between Q4 2023 and Q4 2024. Driving the company’s strong performance were 16 successful Electron launches—a record for Rocket Lab—and signed contracts worth over $450 million.
This year, Rocket Lab continues to expand its commitment to the defense sector. In 2024, the company was selected to develop and launch the Tactically Responsive Space (TacRS) Victus Haze mission. Rocket Lab has also become the prime contractor for the development of satellites for the SDA’s Tranche 2 Transport Layer.
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