- Mynaric announces contract in the mid-seven figure Euro-range from space customer
- Contract further proof of Mynaric's prime position in aerospace connectivity market
- Further details to be released in due course
Munich, January 14, 2020 - Mynaric (Frankfurt Stock Exchange: M0Y, ISIN: DE000A0JCY11) has announced today a multi-million Euro contract in the mid-seven digits from a space customer.
The nature of today's contract means little can be announced immediately but further details will be made public by Mynaric at a later date.
Today's announcement demonstrates strong traction for Mynaric's laser communication products with this second significant space contract coming so soon after an initial contract - with a different customer - in October 2019. The news clearly indicates that the aerospace connectivity market is moving towards adoption of affordable laser communication, and Mynaric strongly expects that, during this year, a watershed in the adoption of laser communication for connectivity in space will take place.
With this contract, Mynaric also secures the potential for additional business with the same customer in the coming years.
"This contract again underlines that our efforts to make laser communication affordable and readily available are starting to bear fruit right now. We believe that this multi-year engagement will bring with it significant market potential for sustained growth over the coming years.
That we have signed yet another space customer within just three months of our previous space contract once again highlights Mynaric's primacy in the market. It also supports our strong belief that 2020 is going to see the inflection point for laser communication in space as we anticipate additional trailblazing contracts and strategic partnerships."
Bulent Altan, Member of the Mynaric Executive Board
Mynaric is a manufacturer of laser communication technologies used to enable communication and surveillance applications in air and space. Its wireless laser data transmission products include ground and flight terminals, which allow very large quantities of data to be sent wirelessly and securely over long distances between aircraft, autonomous drones, high-altitude platforms, satellites and the ground.
Globally, the need for fast and secure connectivity is advancing inexorably. Data networks are today largely based on infrastructure on the ground, which cannot be expanded arbitrarily for legal, economic or practical reasons. The future therefore calls for an expansion of the existing network infrastructure into air and space. With its wireless laser communication products Mynaric is positioned as a prime pioneer in this growth market.
For more information see: www.mynaric.com
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