MDA Space named global satellite business of the year

BRAMPTON, PARIS - MDA Space Ltd. (TSX:MDA), a ~$3 billion market cap space technology company that has delivered nearly 96% returns to investors over the past year, has been awarded the 2025 Global Satellite Business of the Year by Novaspace at the annual World Space Business Week in Paris, according to a company press release.

The award recognizes organizations making significant contributions to the space and satellite sectors worldwide. Novaspace presents these annual awards to highlight companies demonstrating excellence in the industry. According to InvestingPro data, MDA has demonstrated remarkable business execution with 57% revenue growth in the last twelve months.

"We are truly honoured to be recognized for our achievements in the sector by Novaspace," said Mike Greenley, CEO of MDA Space.

The Canadian-based company was recognized for several technical achievements over the past year, including what the company describes as an industry first in satellite beam forming and steering with its Ka-band radiating array using direct sampling technology. InvestingPro analysis shows the company maintains a "GREAT" financial health score, reflecting strong operational performance and innovation capabilities.

MDA Space has also continued deployment of its AURORA product line, a suite of software-defined broadband and direct-to-device satellite solutions designed to allow customers to modify payload functionalities while satellites are in orbit.

Founded over 55 years ago, MDA Space employs approximately 3,800 people across Canada, the United States, and the United Kingdom. The company specializes in robotics, satellite systems, Earth observation, and space infrastructure.

The award was presented during World Space Business Week, an annual industry event that brings together leaders from the global space sector. Analysts maintain a bullish outlook on MDA’s prospects, with targets reaching up to $40. Get detailed insights and 12+ additional ProTips with InvestingPro’s comprehensive research report.

In other recent news, MDA Space Ltd. has experienced a series of significant developments. EchoStar Corporation has terminated its satellite constellation contract with MDA Space due to strategic changes following discussions with the Federal Communications Commission. This decision comes as EchoStar plans to sell its spectrum licenses to SpaceX. Meanwhile, MDA Space has been selected by the Canadian Space Agency to conduct a study for Canada’s proposed Lunar Utility Vehicle, marking an important step in future lunar logistics and mobility capabilities.

Additionally, MDA Space has achieved an industry first by successfully demonstrating digitally formed and steered multiple beams with its Ka-band direct radiating array, enhancing satellite communications systems. The company has also extended its maritime surveillance contract with Fisheries and Oceans Canada, which includes future use of data from MDA’s upcoming Earth observation constellation. Furthermore, MDA Space has taken over the operation of the David Florida Laboratory, ensuring the continuation of Canada’s only commercial spacecraft testing facility. These developments highlight MDA Space’s ongoing advancements and strategic moves in the aerospace sector.

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