Following its effective merger with Clyde Space in the UK that completed in January 2018, AAC Microtec AB (ST:AACM) now offers a full range of end-to-end satellite solutions using small satellites weighing from around 1kg to 50kg. The nano- and micro-satellite technologies are expected to see substantial growth in utilization for low earth orbit missions, most likely deployed in constellations. Mission capability is advancing with technological development and the key application for communications markets is nascent. As lower-cost launch capabilities develop, there is expected to be strong growth in the number of satellites deployed. ÅAC has the ambition to dominate the small satellite market through both organic growth and further acquisitions.
Clyde Space merger creates a world leader
Founded in 2005 at the University of Uppsala in Sweden, since 2014 ÅAC has pursued a more focused strategy to grow in the small satellite sector. In January 2018, ÅAC raised SEK50m before costs via an equity issue to provide funding for development through organic and acquired technology. Clyde Space was also founded in 2005 in Glasgow, and has been a leading player in the development of CubeSat capabilities in the UK. ÅAC completed the acquisition of Clyde in January 2018, which it describes as a merger. Clyde shareholders now own 44% of the issued share capital, and Clyde executives fill roles as chief strategy officer and chief technology officer. ÅAC Clyde, as it refers to itself commercially, has ambitions to dominate the small satellite market. It now offers full end-to-end solutions to customers in a broad range of end markets, from satellite design, mission preparation, manufacture launch and operation.
A rapidly growing disruptive technology
Initially proposed as academic tools, CubeSats are 10cm cubes of technology weighing just over 1kg (1U) that can be assembled in modular forms up to around 12 cubes (12U) weighing around 20kg. Capabilities of these nano satellites are increasing with technology. The addition of Clyde’s CubeSat capability to ÅAC’s 50kg Innosat product provides a broad product offering. Market development should be driven by lower cost and increasing mission capability.
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