Redwire Corp.'s stock surged 13.21% during the night session, marking a significant upward movement for the aerospace and defense company.

The rally was primarily driven by a series of substantial new contract awards that have significantly boosted the company's order backlog. Redwire secured a multiyear contract valued in the high eight-figures from an undisclosed NATO member country for its next-generation Penguin Mk3 tactical uncrewed aerial system, which is part of that country's UAS modernization program. Additionally, the company received a $15 million follow-on order from the US Army Aviation Center of Excellence's 1st Aviation Brigade for its Stalker UAS, marking the third order from the brigade in eight months.

The sharply rising backlog provides strong revenue visibility and has sustained investor confidence in the company's growth prospects. The broader space and aerospace sector also showed positive momentum during the session, contributing to the bullish sentiment surrounding Redwire's stock.