Rocket Lab delays Neutron debut to 2027

Rocket Lab postponed the first Neutron launch to 2027 after voids were found in carbon composite layers of the propellant dome. Shares fell from about $63 to near $53 after hours as testing is not expected to finish before the end of Q1 2027.

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Rocket Lab's medium-lift Neutron has slipped again, from the originally mooted 2024 to 2027, because of carbon composite manufacturing voids in the propellant dome. Management says the problem is fixed, but cryo and hydrostatic test campaigns will run to Q1 2027, so a new launch date is not yet set. The stock fell roughly 16% after hours, reflecting the weight of Neutron in the growth story. The delay extends SpaceX's dominance in reusable medium-to-heavy lift just as Falcon 9 may be wound down in favor of Starship. Customers and constellation operators needing non-SpaceX capacity face a longer wait, and Electron stays Rocket Lab's only launch revenue source.