Thank you for the opportunity to make a presentation to the committee today. As opposed to an association, I'm now speaking as a corporation, on behalf of MDA.
MDA is a homegrown story of innovation and entrepreneurship. In 1969 University of British Columbia professor Dr. John MacDonald and his physics grad Vern Dettwiler founded MacDonald, Dettwiler and Associates. Their goal was simple—to create an advanced technology company where talented engineering graduates could find employment in British Columbia. That humble start was the catalyst for B.C.'s technology industry, which today employs more than 100,000 people in the province.
Today MDA serves the world from our Canadian home and global offices as an international space mission partner and robotics, satellite systems and geo-intelligence pioneer with a 52-year story of firsts on and above the earth. With more than 2,000 employees across Canada, located in multiple provinces, MDA is leading the charge toward viable moon colonies, enhanced earth observation and communication in a hyper-connected world.
MDA's success is a direct result of Canada's early recognition, dating back to the dawn of the space era some 60 years ago, that it needed to harness space to achieve its national needs for telecommunications services and remote sensing of our large land mass and long coastlines. Today Canada's comparative advantage in this sector involves our country's robust space ecosystem, where the industrial and academic community collaborate to develop, build and operate complex space systems, all from within our domestic borders. Beyond manufacturing, the importance of space to Canada's national security, economic prosperity and place in the world cannot be understated. Space also has the ability to inspire the next generation to pursue science, technology, engineering and math studies in their education.
MDA plays an important role as a prime contractor for Canadian government flagship space programs and an anchor company in Canada's space innovation ecosystem, creating, developing and building solutions in Canada, exporting these solutions globally, and reinvesting in future Canadian innovation and intellectual property. Many of MDA's, and Canada's, space technologies are world-renowned. Our Canadarm robotics technology has branded Canada on the world stage, and serves as a source of inspiration and pride for Canadians. Our RADARSAT earth observation satellite technology is a leading source of knowledge about our planet.
MDA is pursuing a number of exciting commercial initiatives, such as our plan to build a commercial earth observation satellite mission as our follow-on to RADARSAT-2, as well as advanced technology work on Telesat's recently announced low-earth orbit satellite broadband network, Telesat Lightspeed. We are also planning to leverage our work on Canadarm3, the Canadian Space Agency's third-generation robotic system for NASA's moon-orbiting space station, into commercial opportunities in the on-orbit satellite servicing and space tourism sectors.
In April 2020 a group of enthusiastic Canadian investors, led by Northern Private Capital, repatriated MDA as a stand-alone, Canadian-headquartered private company. Together we are charting a path for growth as a pure space-play company focusing on the burgeoning space economy. Countries around the world are moving swiftly and decisively to participate in the new space economy, because while space may not be a final frontier, it is the next one. The global space market is worth over $420 billion today and is projected to surpass $1 trillion in the next decade. In 2020, in spite of the pandemic, this sector experienced record investment.
Canada is well positioned to lead in the future if we keep our hand in. Canada and the entire space community are planning to be part of this trillion-dollar economy in a big way. In order to do this, however, we need to have the Government of Canada as a partner. In this global sector, the government's role is paramount—as an investor, owner, regulator and anchor customer.
In terms of the post-pandemic economic recovery, the government should turn this epic challenge into an opportunity to build back better, building on strengths, charting a path to a future that focuses on areas of strength and claims them for this country. Space is one such area. Every dollar invested in space by the Canadian government has a strong multiplier effect, producing roughly twice the impact. Investments in space have an immediate effect. They are rocket fuel for Canada's economic recovery. This sector is poised to play a significant role over the long term as Canada positions itself for future prosperity and a continued high quality of life.
For the continued success of Canada's space sector and to position Canadian companies for the rapidly expanding global space economy, we need three things.
First, we need the Government of Canada to serve as an anchor customer to innovative space companies.
Second, we need continued investment in technology development and demonstration. There are a number of opportunities for Canada to do this for projects that could be active right now.
Third, we need a long-term space plan that outlines the government's planned investments in space as well as a modern regulatory framework. In these times of economic uncertainty, the space sector is a light on the horizon. With investments in space paying strong dividends now and over the long term, the sector is ready to play its part to help our country build back better.
Thank you.