MDA Space Signs $1.1b Contract With Globalstar To Build Next Generation Leo Constellation

February 10, 2025

 MDA Space Ltd. has signed a definitive contract with Globalstar Inc. (NYSE American: GSAT) to be the prime contractor for the satellite operator’s next generation low Earth orbit (LEO) constellation, with a total contract value of approximately $1.1 billion*.

As part of the definitive contract for the full LEO constellation, MDA Space will manufacture more than 50 MDA AURORA™ software-defined digital satellites for Globalstar.

“We are pleased to once again be working with Globalstar as they develop their next generation LEO constellation,” said Mike Greenley, CEO of MDA Space. “With the full contract now in place, we are moving full speed ahead on the program.”

The definitive contract announced today is a follow-on to an initial Authorization to Proceed (ATP) contract with an undisclosed customer, previously announced on November 17, 2023.

A contract value of approximately $750 million will be added to the company’s backlog in the first quarter of fiscal 2025. This amount is in addition to the ATP value of approximately $350 million that was previously added to backlog, for a total value of $1.1 billion under the definitive contract.

*Contract value is stated in CAD. Management assumed US/CAD exchange rate of 1.43.