MDA Space selected to lead Canada’s lunar utility vehicle study

BRAMPTON, Ontario - MDA Space Ltd. (TSX:MDA), a $3.56 billion market cap space technology company whose stock has surged over 200% in the past year, has been selected by the Canadian Space Agency (CSA) to conduct an early-phase study for Canada’s proposed Lunar Utility Vehicle (LUV), according to a press release statement issued Tuesday.

The study represents an initial step in defining the LUV mission concept and technology development plan, focusing on mission architecture, technology options and risk assessments for future lunar logistics and mobility capabilities. The contract comes as MDA demonstrates strong financial performance, with revenue growth of 50% over the last twelve months and an "GREAT" financial health score according to InvestingPro analysis.

MDA Space will lead a team that includes the Centre de Technologies Avancées BRP – Université de Sherbrooke (CTA) and the University of Toronto Institute for Aerospace Studies (UTIAS). The collaboration combines MDA’s space systems experience, CTA’s off-road vehicle development expertise, and UTIAS’s autonomy algorithms.

The project will integrate MDA SKYMAKER, a suite of space robotics technology derived from Canadarm, to develop autonomous mobility solutions for lunar surface operations.

This study follows a lunar surface demonstration conducted by the MDA Space team at the Canadian Space Agency in December 2024.

"We’re proud to be working alongside CTA and UTIAS to help shape Canada’s role in lunar exploration," said Mike Greenley, CEO of MDA Space, in the statement.

The financial terms of the study contract were not disclosed in the announcement. Investors following MDA should note that the company is scheduled to report its next earnings on August 8, 2025. For deeper insights into MDA’s valuation and growth prospects, including exclusive ProTips and comprehensive financial analysis, visit InvestingPro, where you’ll find detailed research reports and expert recommendations.

In other recent news, MDA Space has made notable advancements and secured significant contracts. The company successfully demonstrated its digital beam-forming technology using its Ka-band direct radiating array, marking an industry first in satellite communication technology. Additionally, MDA Space announced a contract extension with Fisheries and Oceans Canada to continue providing maritime satellite surveillance data and analytics services. In a strategic move, MDA Space has also taken over the operation of the David Florida Laboratory, ensuring the continuation of Canada’s only commercial spacecraft testing facility.

Furthermore, MDA Space has been awarded $60 million in contracts to deliver sensor systems for the Royal Canadian Navy’s River-class Destroyer program. In merger news, SatixFy Communications shareholders approved an all-cash merger with MDA Space, with over 99% of voting shareholders backing the agreement. This merger is expected to close in the third quarter of 2025, pending regulatory approvals. These developments highlight MDA Space’s continued growth and strategic positioning within the satellite and space technology sectors.

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