Most space companies pick a lane. Some focus on launch. Others build satellites. A growing number are pursuing lunar opportunities, while defense contractors compete for military and national-security contracts. Firefly Aerospace Inc. (NASDAQ:FLY) is taking a different approach.

Instead of betting its future on a single market, the company is building a business that spans launch services, lunar exploration, in-space transportation and defense technologies—a strategy CEO Jason Kim believes could reduce risk while expanding the company’s growth opportunities.

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Three Markets, One Strategy

“Firefly’s strategy is built around being a diversified space and defense technology company that is equipped to serve all three markets with our launch, lunar, and in-space services,” Kim told Benzinga.