The first stage is intended to use 13 of the new and more powerful Aeon-R engines on the re-usable first stage, with an expendable second-stage using a single vacuum-optimized Aeon-R Engine. This will loft the approximately 33,500 kg to Low Earth Orbit in fully-expendable mode. The design anticipates first-stage re-use, with down-range landing, rather than return-to-launch-site - requiring later development of landing infrastructure on a floating platform as with SpaceX (and anticipated for Blue Origin).
Based on the marketing materials and anticipated performance, Terran R is intended to compete in a similar space to Space's Falcon 9, Blue Origin's New Glenn, or ULA's Vulcan. Terran R is expected to first launch in 2026, barring delays in rocket or engine development.