MDA Space secures $60M contract for new Canadian warship sensor systems
MDA Space (TSX:MDA) has been awarded C$60 million in contracts to deliver and integrate two advanced sensor systems for the Royal Canadian Navy's River-class destroyer (RCD) program
The contract marks a significant milestone in Canada's National Shipbuilding Strategy, which aims to modernize the federal fleet and bolster the domestic shipbuilding industry
Once completed, the RCD fleet can significantly enhance the Royal Canadian Navy's operational capabilities, supporting a wide range of critical missions both at home and abroad
MDA Space stock (TSX:MDA) last traded at C$32.15
MDA Space (TSX:MDA) has been awarded C$60 million in contracts to deliver and integrate two advanced sensor systems for the Royal Canadian Navy's River-class destroyer (RCD) program. These systems are designed to enhance situational awareness and defend against laser and optically guided threats aboard the first three ships of the fleet.
The contract marks a notable milestone in Canada's national shipbuilding strategy, which aims to modernize the federal fleet and bolster the domestic shipbuilding industry. The sensors will be developed across MDA Space's Canadian facilities in Richmond, British Columbia; Halifax, Nova Scotia; and Brampton, Ontario.
'As a headquartered Canadian company and a long-term trusted mission partner to Canada's Department of National Defence, MDA Space is proud to work with Canada's world-leading defence industrial base to deliver next generation naval sensors for the River-class destroyer program,' Mike Greenley, CEO of MDA Space said in a news release. 'We value our role in helping to deliver this important fleet and capability to the Royal Canadian Navy and look forward to seeing these ships launched and operationalized in the years ahead.'
The River-class destroyers, being constructed by Irving Shipbuilding Inc. at the Halifax Shipyard, are envisioned as multi-mission combat vessels equipped with cutting-edge technologies. Lockheed Martin Canada is leading the combat management system design and integration, working alongside a team that includes MDA Space, CAE, L3 Harris, Ultra, and BAE.
Once completed, the RCD fleet can significantly enhance the Royal Canadian Navy's operational capabilities, supporting a wide range of critical missions both at home and abroad.
MDA Space Ltd. is a partner to the global space industry specializing in robotics, satellite systems and geointelligence. The company brings over 55 years of experience across more than 450 missions, including the development of the Canadarm robotic arm system.
MDA Space stock (TSX:MDA) last traded at C$32.15 and has risen 166 per cent since this time last year.
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