Starfighters Space, Inc. (NYSE: FJET)

Starfighters Space, Inc. is a commercial aerospace company that provides flight services using a fleet of Lockheed F 104 supersonic aircraft.
The company’s core activities include pilot and astronaut training, launch services and access to space, and in flight testing for a variety of payloads.
It operates primarily from NASA’s Kennedy Space Center and Midland International Air & Space Port, offering a reusable platform for high speed flight research and space access.
The company currently operates seven flight ready F 104 aircraft based at NASA’s Kennedy Space Center and Midland International Air & Space Port.
Its mission is to make space accessible to entrepreneurs, researchers, industry and government at a high cadence and the right cost.

Starfighters Space, Inc. generates revenue from its Historical Services, which comprise pilot and astronaut training, launch services and access to space, and in flight testing performed with its F 104 fleet.
The company is also developing New Services that will provide horizontal launch capabilities for small payloads using its StarLaunch rocket system and an airborne testbed for hypersonic research and development.
Revenue is derived from fees charged to government, commercial, academic and civil customers for training missions, flight tests and planned launch services.
Historical Services have generated income from pilot training missions for companies such as Boom Supersonic and from in flight testing for various payloads.
The New Services include the development of the StarLaunch I rocket for suborbital payloads and the StarLaunch II concept for low Earth orbit delivery.
Partnerships with GE Aeronautics support the engineering and testing of the StarLaunch system.

The company operates through the following segments: Historical Services and New Services.

• Historical Services: This segment provides pilot and astronaut training for prospective pilots of next generation supersonic aircraft, offers launch services and access to space by using the F 104 as a carrier platform, and conducts in flight testing such as captive carry payloads, windstream simulations and high altitude experiments for defense, civil, academic and commercial clients. The segment also provides type specific training under FAA Letter of Authorization, allowing pilots to train in the same jets used by NASA astronauts. Training missions are conducted in the controlled airspace above Kennedy Space Center and the Atlantic Ocean range. In flight testing services cover envelope expansion, propulsion checks and avionics qualification for a range of customers.

• New Services: This segment focuses on developing horizontal launch capability through the StarLaunch rocket system to deliver small satellites to suborbital and low Earth orbit, and provides an airborne testbed for hypersonic research and development and test and evaluation missions for government and commercial partners. The StarLaunch system uses the F 104 as a reusable first stage, which reduces launch costs and increases flight frequency. Horizontal launch capability allows the company to respond quickly to changing weather and schedule requirements. The airborne hypersonic testbed offers flight data at Mach 2 speeds, filling a gap left by limited wind tunnel availability.

Starfighters Space, Inc. occupies a niche position as the sole commercial operator of a fleet of Lockheed F 104 aircraft, giving it unique high speed and high altitude capabilities that few competitors can match.
The company faces competition from established launch providers such as SpaceX, Northrop Grumman, United Launch Alliance and Rocket Lab in the small satellite launch market, as well as from firms engaged in hypersonic wind tunnel testing and flight testing.
Its competitive strengths derive from the proven operational history of the F 104, lower operating costs due to reusability, launch flexibility from a jet based first stage, and the ability to offer rapid response flight testing in a real world environment.
The reusable F 104 platform reduces per launch expenses compared with expendable rockets, giving a cost advantage.
Operating from Kennedy Space Center provides immediate access to skilled workforce, launch infrastructure and established industry partnerships.
These factors enable Starfighters to serve customers requiring rapid turnaround and flexible flight profiles.

Starfighters Space, Inc. serves a diverse customer base that includes government agencies such as NASA and the U. S. Department of Defense, commercial firms like Boom Supersonic and GE Aeronautics, academic institutions and civil contractors.
Specific customers referenced in the filing are Boom Supersonic for pilot training, Innoveering LLC and GE Aeronautics for launch system development, and NASA for historical flight support.
The company also supports academic researchers conducting high altitude experiments and technology demonstrators.
Government clients use the platform for hypersonic research, missile testing and re entry vehicle validation.