Canadian satellite maker MDA Space speeds production, locks in more overseas military contracts

Mike Greenley, CEO of MDA Space, joins BNN Bloomberg to discuss the company's earnings and opportunities from higher defence spending.

MDA Space says it plans to ramp up its satellite production and pursue more defence contracts as governments boost military spending.

The Brampton, Ont. based satellite company is moving from building roughly one satellite a week to two per day, as it brings an expanded Montreal manufacturing facility online, CEO Mike Greenley told BNN Bloomberg on Wednesday.

He said global instability is reinforcing demand for satellites.

“Countries want to be able to have increased Earth observation, to be able to monitor their sovereign territory,” Greenley said.

He said MDA Space has “really high visibility” into its revenue this year, with the company’s Q4 results showing revenue and profitability up 50 per cent year over year and a backlog of roughly $4 billion.

“The large majority of our revenue this year was already in backlog and signed contracts that we have in the business,” Greenley said.

“Our backlog levels are up seven times the level they were at when we went public five years ago.”

No concerns meeting growing demand

Greenley said he has no concerns about meeting growing demand, as the company has hired heavily and now has 4,000 employees.

He said the company has also moved into its new facility, the Space Robotics Centre of Excellence in Brampton, and that capital spending this year will go toward installing equipment in the new Montreal facility.

“The facility is starting to become operational now, as we go through the first few stages of the production cycle,” Greenley said.

Canada’s defence contracts

The company signed a strategic partnership agreement with the Government of Canada and Telesat Corporation in December 2025 to develop and deliver military satellite communications (MILSATCOM) for the Arctic.

“Canada is going through an expansion of its defence spending… it is actually starting to move,” Greenley said.

He also said there are increased opportunities for the company internationally.

The company signed a memorandum of understanding with Hanwha Systems of South Korea in late January this year to develop the Korea Low Earth Orbit (K-LEO) defence constellation.

“They would work with us to go after the Korean military communication satellites to create new export opportunities for us,” Greenley said.

He said collaboration with the U.S. is strong and growing. The company recently signed a contract with the U.S. Missile Defense Agency tied to the Golden Dome program. Greenley said all five U.S. defence primes buy satellite components from MDA shipped from Montreal.