Space firm Redwire stock rockets 28% after joining $151 billion contract for Trump’s ‘Golden Dome’

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 billion to build out its autonomous capabilities.