This is the second of three in-game medals. Here is Wing Commander Arena's "Silver Star", part of a system patterned after the awards in Wing Commander I. This art was not used in the finished game. The bird theme found in all three of these medals comes from the Firekkans... who we'll see more of in the future. The artist also drew a connection between the word Terran and a bird's talons.
This is part of a series of beautiful Wing Commander Arena concept images graciously provided by Gaia Industries. You can find the original article here. You can thank the guys at Gaia by picking up Street Trace NYC on Xbox Live Arcade!