Maxar to Build 14 Spacecraft Platforms for L3Harris as Part of Space Development Agency's Tranche 1 Tracking Layer Program

Maxar Technologies (NYSE:MAXR) (TSX:MAXR), provider of comprehensive space solutions and secure, precise, geospatial intelligence, today announced it has been selected by L3Harris Technologies for the design and production of 14 spacecraft platforms and associated support for its Tranche 1 Tracking Layer contract with the Space Development Agency (SDA).

SDA selected L3Harris as a prime for its Tranche 1 Tracking Layer as part of the initial Missile Warning/Missile Tracking warfighting capability of the National Defense Space Architecture (NDSA). Tranche 1 Tracking Layer will provide limited global indications, warning and tracking of conventional and advanced missile threats, including hypersonic missile systems.

Designed, engineered and built in-house, these modular satellite platforms illustrate Maxar's ability to adapt and extend its deep experience to provide agile, affordable solutions in proliferated, low Earth orbit (LEO) constellations. With this contract, Maxar will provide a robust foundation for the integration of various mission payloads, including optical terminals for space mesh networking, Ka-band communications, and infrared sensors. Additionally, it will provide related ground, operations and sustainment support. Maxar will manufacture the platforms at its factories in Palo Alto and San Jose, California, for delivery in 2024, and launches are scheduled to begin in April 2025.

"Maxar is proud to support L3Harris on this critical Space Development Agency mission that highlights our expanding national security capabilities," said Chris Johnson, Maxar Senior Vice President and General Manager of Space. "This program demonstrates that Maxar is primed to handle a diverse set of missions, and it exemplifies how our technology and experience are optimized to bring rapidly deployed, proliferated LEO constellations to market."

"Developing and manufacturing commoditized, commercially available spacecraft for the National Defense Space Architecture is key for the Space Development Agency, and the Maxar platform delivers incredible capability to the L3Harris Tranche 1 Tracking Layer mission solution," said Rob Mitrevski, Vice President and General Manager, Spectral Solutions, L3Harris. "The relationship created by our two organizations on this program creates a powerful toolset in our nation's defense against evolving missile threats."

About Maxar

Maxar Technologies (NYSE:MAXR) (TSX:MAXR) is a provider of comprehensive space solutions and secure, precise, geospatial intelligence. We deliver disruptive value to government and commercial customers to help them monitor, understand and navigate our changing planet; deliver global broadband communications; and explore and advance the use of space. Our unique approach combines decades of deep mission understanding and a proven commercial and defense foundation to deploy solutions and deliver insights with unrivaled speed, scale and cost effectiveness. Maxar's 4,400 team members in over 20 global locations are inspired to harness the potential of space to help our customers both create a better world. Maxar trades on the New York Stock Exchange and Toronto Stock Exchange as MAXR. For more information, visit www.maxar.com .

Forward-Looking Statements

This press release may contain forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Any such forward-looking statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements, including those included in the Company's filings with U.S. securities and Canadian regulatory authorities. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, other than as may be required under applicable securities law.

Investor Relations Contact:
Jonny Bell
Maxar Investor Relations
1-303-684-5543
jonny.bell@maxar.com

Media Contact:
Kristin Carringer
Maxar Media Relations
1-303-684-4352
kristin.carringer@maxar.com

News Provided by Business Wire via QuoteMedia

MAXR:CA,MAXR
The Conversation (0)
Robot using a futuristic 3D screen.

ASX Robotics Stocks: 3 Biggest Companies in 2024

Robotics is a growing area of engineering and science technology. Although Australia is hoping to lead the way in robotics, the number of pure-play ASX-listed robotics companies currently isn't very long.

Robotics is a broad term covering everything from design to the construction and operation of robots. It also includes the use of robots in roles normally played by humans, often to reduce errors or speed up processes.

The list below provides an overview of the three largest ASX-listed companies that employ robotics. Data was sourced using TradingView's stock screener on March 7, 2024, and stocks are listed in descending market cap order.

Keep reading...Show less
robot hand behind and stock charts with 2024 overlay

Robotics Market Forecast: Top Trends That Will Affect Robotics in 2024

Demand for robotic solutions has steadily increased in recent years as industries have become more complex.

According to Precedence Research, the global robotics tech market was valued at US$72.17 billion in 2022 and is expected to reach US$283.19 billion by 2032, representing a compound annual growth rate (CAGR) of 14.7 percent.

With that in mind, some investors are keen to understand the robotics industry and take advantage of its projected growth. Read on to learn about the main trends experts believe could shape the robotics space in 2024.

Keep reading...Show less
robot with stock chart

Robotics Stocks: 7 Biggest Companies

It’s no surprise that the top robotics stocks are gaining attention.

Precedence Research reports that the global robotics technology market was worth US$72.17 billion in 2022 and could grow at a compound annual growth rate of 14.7 percent to reach US$283.19 billion by 2032, spurred on by demand for industrial robots and improving technology from robotics companies.

The automotive industry is the biggest source of demand for robotics. According to the Association for Advancing Automation, in 2022 the sector drove industrial robot sales to a record high in North America. Automakers such as Hyundai Motor Company (KRX:005380) are also showing signs of merging into the robotics industry — in 2021, the South Korean company acquired a controlling stake in robotics firm Boston Dynamics for US$1.1 billion.

Keep reading...Show less
robot hand and human hand reaching toward each other

How to Invest in Robotics in Australia

The global robotics industry is expected to grow at a CAGR of 17.64 percent through 2028 to reach US$258.36 billion, according to Mordor Intelligence. The robotics sector is also growing in Australia ― but is it a sector worth investing in?

Broadly speaking, robotics is an umbrella term that includes the design, construction and use of robots. This can include core automation and production, industrial software, robot technology and integration of robotics. From drones to self-driving cars to toys, robotics is a growing industry that is beginning to permeate our daily lives. The goal of a robot is to complete a task faster and more efficiently than a human.

The distinction between robotics and AI can be a little confusing, but essentially think of robotics as the body and AI as the brain. Both can exist separately and they are powerful when combined.

Keep reading...Show less
humanoid robot with digital graphic display

How to Invest in Robotics

The robotics industry is one of the largest markets in the technology space today, with applications across diverse sectors. However, this diversity may leave market watchers wondering how to invest in robotics.

In simple terms, robotics is defined as the "science and technology behind the design, manufacturing and application of robots." Robots themselves are devices that can perform tasks the same way people do, but without human assistance.

Some experts believe a "robot revolution" will completely change the global economy over the next 20 years or so, and with the rise of robotics all but guaranteed, the Investing News Network has put together a primer on the sector. Read on to learn more.

Keep reading...Show less

Maxar Technologies Stockholders Approve Acquisition by Advent International

Maxar Technologies (NYSE:MAXR) (TSX:MAXR) ("Maxar" or the "Company"), provider of comprehensive space solutions and secure, precise, geospatial intelligence, announced that at Maxar's Special Meeting of Stockholders (the "Special Meeting") held earlier today, the Company's stockholders voted to adopt the Agreement and Plan of Merger (the "merger agreement"), whereby Maxar will be acquired by Advent International ("Advent"), one of the largest and most experienced global private equity investors. Under the terms of the merger agreement, Maxar stockholders will receive $53.00 per share in cash for every share of Maxar common stock they own immediately prior to the effective time of the merger.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×