Published: March 2026
Reading Time: 5–6 minutes
SpaceX is continuing to deepen its control over critical aerospace technologies. The company has agreed to acquire Hexagon Masterworks Inc., a specialist in high-pressure composite storage cylinders, from Hexagon Purus ASA in a transaction valued at up to $15 million.
The deal reflects a broader trend in the aerospace sector: leading launch providers are increasingly bringing strategic manufacturing capabilities into their internal supply chains.
Deal Structure and Transaction Details
According to a statement from Hexagon Purus, SpaceX will purchase 100% of the shares of Hexagon Masterworks Inc., the company’s wholly owned aerospace composite cylinder subsidiary.
The agreement values the business at approximately $15 million, structured as:
- $12.5 million in cash at closing
- up to $2.5 million in contingent earn-out payments
These additional payments will depend on customary closing adjustments and post-transaction performance conditions.
Importantly, the transaction does not include Masterworks’ hydrogen mobility activities, which remain outside the scope of the acquisition.
Composite Pressure Vessels: Critical Components in Aerospace Systems
Hexagon Masterworks specializes in high-pressure composite storage cylinders, often referred to in the aerospace sector as composite overwrapped pressure vessels (COPVs).
These structures are essential in modern spacecraft and launch vehicles because they combine:
- high strength
- low weight
- excellent pressure resistance
Typical aerospace applications include:
- spacecraft propulsion systems
- pressurized gas storage
- launch vehicle fuel pressurization systems
- satellite propulsion tanks
Composite pressure vessels are commonly constructed using carbon fiber reinforcement combined with polymer liners, creating structures capable of handling extremely high pressures while minimizing mass.
For launch systems where every kilogram matters, weight savings directly translate into increased payload capacity.
Strategic Supply Chain Integration for SpaceX
The acquisition suggests that SpaceX intends to internalize more of the manufacturing expertise required for advanced pressure vessel technology.
Vertical integration has been a defining strategy for the company, allowing it to control costs, accelerate development cycles, and maintain tighter oversight of key components.
Adding Masterworks’ engineering expertise in composite pressure vessel manufacturing could strengthen SpaceX’s capabilities in several areas:
- spacecraft propulsion systems
- reusable launch vehicle architectures
- next-generation satellite platforms
- high-pressure storage systems used in space missions
By integrating the business into its operations, SpaceX is expected to incorporate the team’s experience directly into its long-term aerospace manufacturing ecosystem.
Why Hexagon Purus Is Divesting the Business
For Hexagon Purus, the sale reflects a strategic shift rather than a performance issue.
The company stated that its aerospace unit has reached a stage where ownership by a company focused entirely on aerospace applications would better support the business’s next phase of growth.
SpaceX, with its extensive launch operations and spacecraft development programs, provides a natural industrial environment for this technology.
The divestment is also part of Hexagon Purus’ broader portfolio review.
Reassessing the Hydrogen Mobility Market
Hexagon Purus has been active in hydrogen infrastructure and storage systems, particularly in hydrogen mobility solutions.
However, the company indicated that it does not currently expect hydrogen mobility in North America to represent a major growth opportunity in the near-to-medium term.
This reassessment appears to have influenced the decision to streamline operations and concentrate resources on the company’s most promising strategic segments.
By divesting the aerospace unit, Hexagon Purus aims to:
- strengthen its financial position
- extend its liquidity runway
- focus investment on core business areas
Leadership Perspective on the Transaction
Morten Holum, CEO of Hexagon Purus, acknowledged that the sale represents a significant transition for the company.
He emphasized that the decision was guided by long-term strategic considerations.
According to Holum, SpaceX views the composite cylinder technology developed by Masterworks as world-class engineering capability, and intends to integrate it into its internal supply chain to support future growth.
Holum also recognized the work of the Masterworks team in building the business and advancing its technology.
Composite Pressure Vessel Technology in the Space Industry
Composite pressure vessels have become increasingly important as aerospace systems push toward higher efficiency and lighter structures.
Traditional metal pressure tanks remain common, but composite vessels offer several advantages:
| Feature | Composite Pressure Vessel | Metal Tank |
|---|---|---|
| Weight | Much lighter | Heavier |
| Pressure tolerance | Extremely high | High |
| Corrosion resistance | Excellent | Moderate |
| Structural efficiency | Very high | Lower |
For launch vehicles and spacecraft, these benefits make composite storage systems particularly attractive.
Companies developing reusable rockets and long-duration spacecraft often rely heavily on advanced pressure vessel technology.
A Continuing Trend in Aerospace Vertical Integration
The transaction also highlights a broader pattern across the aerospace industry.
Major companies increasingly prefer to control critical manufacturing technologies internally, particularly when those technologies directly influence mission reliability or system performance.
Examples include:
- propulsion systems
- advanced composite structures
- avionics electronics
- pressure vessel manufacturing
By bringing key capabilities in-house, aerospace firms can shorten development timelines and reduce dependency on external suppliers.
SpaceX has been especially aggressive in pursuing this strategy.
Looking Ahead
Although relatively modest in financial size, the acquisition signals a strategic technology move rather than a simple financial transaction.
By acquiring Masterworks, SpaceX gains direct access to specialized expertise in high-pressure composite storage systems, an area that remains critical to modern spacecraft engineering.
For Hexagon Purus, the divestment provides additional financial flexibility while allowing the company to concentrate on other strategic priorities.
As space launch systems continue to evolve, technologies such as composite pressure vessels, lightweight structures, and advanced materials will remain central to the next generation of aerospace platforms.