Maxar Technologies Inc. (MAXR) stock closed the week at a gain of 0.18 percent to $28.54 on Friday. The space technology pioneer recently said that it will maintain access to space-operating robotic systems technologies. To the long-term investors of the firm, this is a clear positive signal.
The company spoke about selling of its primary MDA division in December 2019. This division has been involved in the creation and manufacturing of complex space robot manipulators. The MDA manipulator is used on the ISS, and similar systems for lunar stations, flights to Mars, and other projects will be needed in the future.
As Maxar lost a large portion of its innovation funds, the MDA sale concerned long-term investors. However, Maxar this month said that MDA will continue supplying the company with its technology. Maxar has entered into several contracts with MDA for the supply of hardware as well as software for the SPIDER manipulator. This is a manipulator of a new generation ordered by NASA to show the possibility of assembling complex space systems, such as security windows, as well as satellite repair and refueling.
The SPIDER manipulator will be mounted on a Maxar satellite and will engage in a low-earth orbit NASA mission named Restore-L to refuel the satellite.
Thus, Maxar will continue to use MDA technology by remaining the new private company’s primary customer. This is good news as MDA expects the space robotics market to hit $4.5 billion in the next 10 years.
Maxar Technologies Inc. (MAXR) stock remained adding 2.77 percent to its value over the past week while stock’s price increased by 82.13 percent since beginning of the year. The earth intelligence and space infrastructure solutions providing company reported a strong third-quarter revenue of $436 million early this month. The revenue generated came with an increase of $23 million compared to the same period in 2019. Company’s net income rose to $85 million, compared to a loss of $26 million in the Q3 2019.