Maxar Wins $49M Deal From U.S. Army for Imagery Ground Tech
Maxar Technologies Inc. MAXR has clinched an eight-year indefinite-delivery, indefinite-quantity contract valued at up to $49 million. The leader in Earth Intelligence and Space Infrastructure has been selected by the U.S. Army Geospatial Center for the supply of high-grade tactical ground systems. These portable defense systems will provide crucial geospatial intelligence to address national security challenges with unrivalled speed and cost effectiveness.
With a global reach in more than 70 countries, Maxar operates the world’s most sophisticated constellation of Earth imaging satellites. It delivers ground-breaking technologies to enhance national intelligence with commercial imagery and expertise. The industry-leading geospatial analytics facilitates end users with best-in-class strategic solutions. Primarily, the company enjoys a first-hand access to an advanced bouquet of commercial satellite imagery that helps the armed forces to counter border security and monitor critical infrastructure while preventing terrorism and insurgency.
Per the deal, Maxar will provide Remote Ground Terminal (RGT) solution to the U.S. Army. Designed on Maxar’s Tactical Architecture for Near-real-time Global Operations platform, the avant-garde system procures vital data from Earth observation satellites, which can be leveraged by the armed forces to support humanitarian missions while strengthening disaster management infrastructure. With 24x7 on-site services from Maxar, the solution involves hassle-free configuration and can be set up in nearly an hour. The U.S. Army also plans to develop the RGT solution for its future scalable intelligence ground station — Tactical Intelligence Targeting Access Node. Maxar also secured two initial task orders with an aggregated amount of $8 million.
On Jan 2020, the Westminster, CO-based company had inked a multi-year deal with The Netherland’s Defence Geographic Agency to equip it with SecureWatch — a pioneering tool for Earth Intelligence. The game changing partnership leveraged Maxar’s expertise in crucial Earth Intelligence information as a trusted mission partner to advance Dutch Ministry of Defence’s mapping and monitoring operations across diverse activities like disaster response, military operations, national security and environmental sustainability. It also secured important deals in its Space Systems business, including initial work on Canadarm3 and the TEMPO instrument for NASA with robust growth in Imagery and Services segments.
Of late, Maxar has been making significant progress on its near-term priorities for sustained top and bottom-line growth. These comprise efforts to reduce leverage levels, re-engineer the Space Solutions business, and position Imagery as well as Services businesses for long-term growth.
At the same time, the company is focused on creating a leaner and more agile organization with a reduced cost structure. It is making efforts to provide greater value to its mission partners with consistent focus on speed, expanded data sources and tools. It also caters to a plethora of industry verticals such as defense and intelligence-focused government organizations and technology companies, which mainly concentrate on visualization and automation. Maxar’s collaboration with the U.S. Army is a positive endeavor in this regard.
Shares of Maxar have soared 226.9% against the industry’s decline of 14.5% in the past year.
Maxar currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader industry are Iridium Communications Inc. IRDM, The Liberty SiriusXM Group LSXMK and Digi International Inc. DGII, each carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Iridium delivered a trailing four-quarter positive earnings surprise of 30.4%, on average.
Liberty SiriusXM has a long-term earnings growth expectation of 12.7%.
Digi International pulled off a trailing four-quarter positive earnings surprise of 564.3%, on average.
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