Pete Cannito, Redwire Corporation at the New York Stock Exchange, September 8, 2021.
Redwire shares surged 29% Tuesday after the space and defense company joined an up to $151 billion Defense Department contract to support President Donald Trump's 'Golden Dome' initiative.
The company joins thousands of vendors supporting a Missile Defense Agency contract to create new defense, aerospace and cybersecurity systems to protect the U.S.
Other awardees include drone maker AeroVironment , Palantir , Firefly Aerospace , Lockheed Martin , Palmer Luckey's Anduril and Jeff Bezos' Blue Origin.
In May, Trump announced his plans to build a 'Golden Dome' defense system, akin to Israel's Iron Dome.
At the time, Trump said the system would cost $175 billion and be up and running in about three years.