Sun. Dec 3rd, 2023
MDA Starts Work on $130.9 Million Satellite Constellation Contract

Canadian robotics, satellite systems, and geointelligence company, MDA, has announced that it has commenced work on a $130.9 million satellite constellation contract. The project is for an undisclosed client and has been authorized to proceed.

The contract involves the development of a non-geostationary orbit satellite constellation, with initial activities focusing on engineering and programmatic work. MDA will also be securing long-lead items as part of the project.

The complete satellite constellation is estimated to be worth a minimum of $564.5 million and will consist of at least 36 MDA software-defined digital satellites. This satellite constellation will be the latest offering from MDA.

Shares in MDA saw a rise of 5.5% in the wake of this announcement, reaching a trading price of C$11.51.

This project represents a significant development for MDA and showcases its expertise in satellite systems and related technologies. The company’s investment in research and development in these fields has allowed it to secure contracts for major projects such as this. The satellite constellation will likely enable improved communication and data transmission capabilities for the client, while also contributing to the growth of MDA’s portfolio.

As work on the contract progresses, further details about the client and the specific applications of the satellite constellation may emerge. MDA continues to make advancements in the field of geointelligence and is well-positioned to capitalize on the growing demand for satellite-based solutions.