Maxar's (MAXR) Remote Sensing License Gets Upgraded by NOAA
Maxar Technologies MAXR recently announced that National Oceanic and Atmospheric Administration (NOAA) upgraded its remote sensing license to enable non-Earth imaging (NEI) capability. With this upgrade, Maxar can now collect and distribute images of space objects across the Low Earth Orbit (LEO) to both commercial and government clients.
This capability will now be available for Maxar’s current constellation on orbit and its WorldView Legion satellites. Maxar will start to deploy its NEI capability in 2023 in association with few early adopters who need to map and study space objects extensively.
Maxar’s constellation can now image objects at less than 6-inch resolution at altitude ranging from 200 kilometers up to 1,000 kilometers in LEO. The new capability enables tracking of objects across a much wider area of space.
LEO environment is increasingly getting congested owing to the rapid deployment of space objects. The NEI capability will provide clients with useful information to aid them in their mission operations, protection of assets in space, and tackle important Space Domain Awareness and Space Traffic Management requirements, added Maxar.
Maxar Technologies Inc. Price and Consensus
Maxar Technologies Inc. price-consensus-chart | Maxar Technologies Inc. Quote
Maxar is a space technology firm providing satellite imagery and expert intelligence services, along with spacecraft and robotics for space exploration, research and national security.
The company’s focus on diversifying its products and customer base bodes well. Higher demand for its 3D and other innovative geospatial products is an added advantage. There is huge growth potential among three key parts of its addressable market — the U.S. government, other international governments and commercial customers.
Maxar remains focused on launching WorldView Legion satellites in 2022. Investment in differentiated capabilities and expansion of partnerships with large defense companies is likely to act as tailwinds.
However, the company has lowered its guidance for 2022 revenues due to weakness in the Earth Intelligence segment. Maxar now expects revenues in the range of $1,755-$1,805 million compared with the earlier guided range of $1,805-$1,855 million. Stiff competition, cyclical market, higher costs and lead time associated with macroeconomic weakness are concerns.
At present, Maxar has a Zacks Rank #3 (Hold). Shares of the company have lost 11.1% compared with the sub-industry’s decline of 12.9% in the past year.
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