Redwire shares surged 29% Tuesday after the space and defense company joined an up to $151 billion Defense Department contract to support President Donald Trump's 'Golden Dome' initiative.
The company joins thousands of vendors supporting a Missile Defense Agency contract to create new defense, aerospace and cybersecurity systems to protect the U.S.
Other awardees include drone maker AeroVironment, Palantir, Firefly Aerospace, Lockheed Martin, Palmer Luckey's Anduril and Jeff Bezos' Blue Origin.
In May, Trump announced his plans to build a 'Golden Dome' defense system, akin to Israel's Iron Dome.
At the time, Trump said the system would cost $175 billion and be up and running in about three years.
Some projections estimate the project could cost more than $500 billion over two decades.
During his second term in office, Trump has focused on rebuilding and modernizing the U.S. military and defense manufacturing. This month, the president called for a $1.5 trillion defense budget in 2027 to support his goal of a "Dream Military."
Redwire debuted on the New York Stock Exchange in 2021 during the frenzy of special-purpose acquisition company mergers that took many space firms public.
The Jacksonville, Florida-based company creates infrastructure such as camera systems, sensors and antennas for space missions.
Last year, the company bought drone maker Edge Autonomy for $925 million to build out its autonomous capabilities.
