I'm hazy on it now being so long ago but I THINK you could play 2 player at once.
It was side scrolling sci-fi shooter a bit like r-type but with newer pixel art.
From memory, the art style was very which is why I'm surprised I have never come across any information about it.
Trying to think how to explain artwork but the pixel art (nothing rendered or 3d) was nice and clean, not as "pillow-shaded" as r-type for example.
Nothing cutesy or weird, pretty standard but the ships reminded me a little of Zero Wing in that the front of ship was rounded.
Also I don't remember seeing any organic enemies or backgrounds although unfortunately I only got to play briefly

From what I saw that start was set in open space with bigger ships and space base coming past.
Sorry to be hazy but does this ring any bells for anyone??
I've been trawling through archives for years but its like it doesn't exist!
There's a few games I thought it MIGHT have been such as Rayxander (1 player and not in arcade) but I'm still convinced I'm yet to come across it...
Thanks for any feedback!! ^,^