The Aerospace & Defense Forum Dallas/Ft. Worth Chapter December 10, 2015
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MARKET OVERVIEW
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HISTORY OF THE SPACE MARKET
Early space market government driven
• Missions were limited to government priorities Traditional Aerospace • Frequency was driven by single customer (government) High cost infrastructure with few customers, low launch • Cost a non issue rate, high cost per flight
Applications Technology was determined by government (Missions) • Type of missions, launch and frequency • Disposable launch • Vertical launch and limited recovery Platform (Launch vehicles)
High cost mission programs • Reusability impossible Infrastructure (Regulatory, Launch pads, etc.) Market Limiting due to cost, safety, capabilities and availability
CURRENT/NEAR TERM MARKET FOR SPACE
Current generation technology is focused on several areas • Using private enterprises to make established, government and scientific missions more affordable • Commercial efforts to advance technology for space platforms and missions
Multiple market segments are seeing opportunities in space • Communications • Science • Manufacturing Cost, capabilities and • Security frequency remain limiting • Mining factors to opening the • Tourism market to other potentially • Space maintenance viable missions. • Medical • Point to point capabilities
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FUTURE WINNERS WILL COMBINE LOW COST WITH HIGH FLEXIBILITY
FUTURE WINNERS History History During the 80s and 90s the cost Most rocket launches are very HighHigh of launching was secondary (e.g. costly and designed to carry Cost per kg to Low Earth Orbit at large freight. Launch lead time ~$ 15K/kg - $ 30K/kg range) can take years, and smaller
freights often share rides making Flexibility Future timing and destination inflexible MOST LowLow TRADITIONAL NEW SPACE Enablers of the future space INITIATIVES industry are in a 'race' to drive Future down the cost to launch (e.g. Reusable launch vehicles will cost per kg to LEO is currently at make launch schedules much a fraction of prior costs for more flexible and a process of HighHigh LowLow SpaceX and will further weeks/days rather than years decrease by future initiatives) Launch costs
OUR FIT IN THE MARKET
Traditional Aerospace New Space High cost infrastructure with Applications Low cost infrastructure, high flight rate, few customers, low launch (Missions) opens many new markets for large rate, high cost per flight numbers of customers
Applications (Missions) XCOR XCOR’s platforms are more changes the Platform game (Launch vehicles) capable, accessible, affordable and serviceable. Platform (Launch vehicles) Infrastructure (Regulatory, Launch pads, etc.)
Infrastructure Infrastructure(Regulatory, Launch (Regulatory,pads, etc.) Launch pads, etc.)
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THE NEW SPACE INDUSTRY
XCOR THE COMPANY
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SPECIFIC MARKET OPPORTUNITIES
FOCUS ON SPECIFIC MARKET OPPORTUNITIES:
- Rocket engines With diverse, highly profitable revenue streams, the Company will - Wet Leases of spacecraft be positioned to either continue to expand its cash generating - Payloads and scientific market business model or be a potential acquisition target for financial or strategic buyers. - Space tourism
- Ancillary revenue streams (*)
- Orbital markets (*)
* Future markets and opportunities for XCOR u
XCOR VISION
XCOR VISION
Frequent - Space offers boundless technology and business opportunities Lessons Flights Learned - To open market: frequency must increase, costs drop and capabilities dramatically improve
- Keys to commerciality of space are reusability Lower Cost Safer Flight - Engines and vehicles must have high usage rates, low serviceability requirements (quick turn times) and long lifespan
High tempo flight operations are Diverse capabilities, accessibility and affordability will enabled by true reusability, rapid drive mission development. deployment and minimal maintenance
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XCOR MISSION
XCOR MISSION NEW SPACE Through developing and producing highly reusable, and affordable engines and vehicles with low service requirements, XCOR provides platforms to HighHigh dramatically increase the viability of space missions and opportunities across diverse markets Flexibility MOST LowLow TRADITIONAL NEW SPACE > INSTANT REUSABILITY INITIATIVES
HighHigh LowLow Launch costs
HIGHLIGHTS IN THE HISTORY OF XCOR
Candidate for ULA agreement for ACES Development of Development of upper stage engine EZ-Rocket X-Racer (exp. Jan ‘16)
1999 2001 2003 2005 2007 2009 2011 2013 2015
Founded in 1999 Further developed Completing 65+ Production Near future: rocket engine manned rocket agreement with Lynx Mark II and (e.g. LOX/Methane flights, including 7 Space Florida XCOR Orbiter Engine) flights in one day
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PRODUCT EVOLUTION
XCOR ENGINES XCOR SUBORBITAL LYNX Low cost, reusable (current) Carries people, payloads and scientific experiments to 100km
XCOR EZ- XCOR ORBITAL (near future) ROCKET Two stage air launched fully Demonstrated cost reusable orbital launch system per flight at $900
XCOR X-RACER Our team has accumulated over 4,000 engine firings and 7 flights in one day with has safely flown a piloted rocket operated demonstrator 10 minute turnaround. aircraft 66 times without a single incident. Safety has our Technology proven highest priority . for Lynx system. Evolutionary step by step approach.
BUSINESS DIVISIONS
ROCKET ENGINES SPACECRAFT PAYLOAD MISSIONS SPACE TOURISM (WET LEASE)
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PRODUCTS & SERVICES
BUSINESS LINE 1: INSTANTLY REUSABLE ENGINES
XCOR Aerospace position • XCOR rocket engines are pump fed, modular and demonstrated with restartability, reliability and reusability • Instant reusability: fly under rocket power, land, re- fuel, perform a check list and take off again • No use of hypergolics, but rather non-toxic bi-propellants
Main competitors
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BUSINESS LINE 2: WET LEASE
XCOR Aerospace position • Two-seat spacecraft that makes use of standard runway; Lynx can fly up to 4 times a day, every day • Engines designed to be used thousands of times • Ability to carry and launch scientific and industrial equipment (payloads) into LEO • Possibility to sell, build and operate under wet lease
Main competitors
THE XCOR LYNX
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BUSINESS LINE 3: PAYLOADS/SCIENTIFIC RESEARCH
XCOR Science & Payloads position • Low cost compared to substitute competitors • Frequent access, short lead time • Multi-mission payload capabilities in one flight • Missions include: microgravity research, in-situ sampling, remote sensing, micro-satellite launches, tech development and astronaut training
Main competitors
BUSINESS LINE 4: TOURISM
XCOR Space Expeditions position • Unlike any of the competitors passengers travel in the co-pilot’s seat • Horizontal takeoff, supersonic in T+60 sec, and Mach 2.9 at T+180 seconds • Giant canopy with nearly 360 degree view from above
Main competitors
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LYNX FLIGHT PROFILE
XCOR SPACE EXPEDITIONS: CORPORATE PARTNERS
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TEAM
KEY MANAGEMENT
CEOCOO CCO
BOARD- MEMBERS
TEAMS
XCOR.COM
/XCOR
@XCOR
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