- Largest single order with Elon Musk’s SpaceX
- Order worth £47.3 million
- Year-to-date shares up 93%
Communications tech designer Filtronic (FTC:AIM) has developed a useful habit of securing large kit orders from Elon Musk's SpaceX but nothing quite like this. The £47.3 million order is nearly three-times the size of its previous largest, as SpaceX expands its Starlink low-earth orbit satellites constellation.
The contract is the first proprietary GaN (gallum nitride) e-band next generation product, delivering more than double the output power of the existing GaAs (gallium arsenide) technology.
GaN processes enable higher power, improved efficiency, and greater thermal performance-critical advantages for satellite communications and aerospace and defence applications.
Filtronic shares, which have soared nearly 450% since early February 2024, rallied another 5% on 26 August 2025 to 141.65p.
The first production units from this contract will ship in full year 2027 and are expected to deliver material revenues in full year 2027 and full year 2028.
GROWTH OPPORTUNITIES
Nat Edington CEO of Filtronic said: ‘We are extremely proud to announce this landmark contract, which not only sets a new commercial record for Filtronic but also reflect the success of our partnership with world-leading satellite company SpaceX, supporting the Starlink constellation.
‘GaN represents a transformative opportunity for the ground segment of LEO communications, and this contract is further testament to the world-class engineering talent of both teams working together.’
Katherine Thompson, analyst at Edison said: ‘The company rapidly scaled manufacturing capacity and adapted other internal functions to meet customer demand and is investing to keep its product roadmap at the forefront of high-performance RF technology.
‘The focus for the year ahead is to diversify the customer base, complete the relocation to a new manufacturing facility and exploit the growth opportunities in the space and defence markets.’
