Based in Sweden, AAC Clyde Space is a world leader in nanosatellite end-to-end solutions, subsystems and platforms after merging with Clyde Space in Scotland. The merged company also supplies a range of technology components to other small satellite manufacturers globally.
AAC Clyde Space is at the forefront of the rapidly growing and revolutionary market for small satellites. As nanosatellite build rates and deployments rise sharply over the next decade, increasing systems supply and platform revenues should be enhanced by operational and service revenues. The new executive team need to steer AAC Clyde Space through the growth phase and target other opportunities in New Space. While FY19 was challenged by two programme delays these have now been delivered and the order backlog and prospects remain bright with improving quality. Management expects strong growth in FY20 and to be EBITDA and FCF positive in FY21.
Of over 1,000 nanosatellites launched since 1998, AAC Clyde Space is represented on 30–40%. Over the next five years around 3,000 nanosatellites should be launched as technology development extends the applications for low earth orbit (LEO) constellations, especially for communications. AAC Clyde Space has the capacity in Glasgow and Sweden to facilitate such expansion as well as develop its ‘Satellite as a Service’ offering, while increasing sales of subsystems to third-party satellite providers.