{"id":396647,"date":"2026-01-08T18:38:07","date_gmt":"2026-01-08T18:38:07","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/396647\/"},"modified":"2026-01-08T18:38:07","modified_gmt":"2026-01-08T18:38:07","slug":"shares-of-canadas-mda-space-rise-on-new-contract-with-u-s-missile-defense-agency","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/396647\/","title":{"rendered":"Shares of Canada’s MDA Space rise on new contract with U.S. Missile Defense Agency"},"content":{"rendered":"\n

Shares of MDA Space (MDA.TO<\/a>)\u200b\u200b jumped on Thursday as the Brampton, Ont.-based satellite and communications firm announced a new contract from the U.S. Missile Defense Agency. In a news release, MDA says it has struck a fixed date and quantity contract for America\u2019s Scalable Homeland Innovative Enterprise Layered Defense (SHIELD) program.<\/p>\n

Launched in 2025, the US$1.15 billion SHIELD contracting program aims to modernize U.S. defences across land, sea, air, space, and cyberspace. This includes the U.S. \u201cGolden Dome\u201d missile defence strategy.<\/p>\n

The company did not announce a dollar value for the contract, which \u201cpositions MDA Space to bid on future tasks and services that support the expansive U.S. defence initiative.\u201d<\/p>\n

“As a long-time trusted mission partner to space and defence organizations worldwide, MDA Space is committed to delivering mission-critical solutions and strategic operational capabilities,” MDA Space CEO Mike Greenley stated in the release.<\/p>\n

MDA shares rose as much as 8.5 per cent in Toronto at the start of Thursday\u2019s trading session.<\/p>\n

\u201cThis is a positive development for MDA Space, as it confirms our ability to bid on tasks and services within the $151 billion SHIELD procurement vehicle, and could create significant revenue opportunities for MDA Space in the future,\u201d Amy MacLeod, MDA\u2019s vice president of corporate communications, said in an email on Thursday.<\/p>\n

She added that MDA has \u201cextensive experience\u201d working with U.S. government agencies and prime contractors, including America\u2019s Space Development Agency, which operates a network of military satellites.<\/p>\n

On Wednesday, U.S. President Donald Trump suggested the U.S. military budget for 2027 should be significantly higher<\/a> than what has been approved by congressional lawmakers.<\/p>\n

Shares of America\u2019s largest defence companies, including Lockheed Martin (LMT<\/a>) and General Dynamics (GD<\/a>) jumped in after-hours trading, following Trump\u2019s remarks on his Truth Social online media platform. Those stocks gained about seven per cent and five per cent, respectively, on Thursday.<\/p>\n

Back in Canada, MDA Space is seen as a beneficiary of Ottawa\u2019s plan to hike military spending<\/a>. The company manufactures a host of satellite systems, as well as robotic applications for shuttles and space stations, including the famous Canadarm.<\/p>\n

Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on X @jefflagerquist<\/a>.<\/p>\n