MDA Space Awarded $688M Contract by Canadian Space Agency for Next-Gen SAR Satellite
MDA has more than doubled off its 52-week low of $15.
Summary
MDA Space Ltd. has secured a $688 million contract from the Canadian Space Agency to supply an advanced synthetic aperture radar (SAR) satellite, significantly boosting its backlog and reinforcing its role in national space infrastructure.
Key Events · M&A and Partnerships · MDA
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Major Contract Awarded
MDA Space has been awarded a $688 million contract by the Canadian Space Agency (CSA) to design, build, test, launch, and commission a next-generation synthetic aperture radar (SAR) satellite.
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Strategic Importance
The new satellite will operate with the existing RADARSAT Constellation Mission (RCM) satellites, enhancing Canada's sovereign Earth observation capabilities for maritime safety, Arctic surveillance, disaster response, and environmental monitoring.
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Leverages New Technology
The SAR satellite will be based on MDA CHORUS™, the company's fourth generation of Earth observation technologies, which is currently in its final integration phase.
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Backlog Impact
The contract, which follows an initial $44.7 million award for long-lead parts, will be added to MDA Space's backlog in the second quarter of fiscal 2026.
Analysis · MDA · Manufacturing
This substantial contract, valued at $688 million, represents a significant revenue stream for MDA Space, equivalent to nearly 13% of its current market capitalization. It solidifies the company's position as a key partner for the Canadian government in critical Earth observation capabilities and leverages its new MDA CHORUS™ technology, ensuring long-term business continuity and growth in a strategic sector.
At the time of this filing, MDA was trading at $40.00 on NYSE in the Manufacturing sector, with a market capitalization of approximately $5.4B. The 52-week trading range was $15.00 to $49.37. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.