How to translate "špičkový" into English? German speakers wouldn't have much trouble, because the Slovak language has taken over their word "Spitze" or "spitzenklasse". In English you'd better start with "top", like top-class, top-quality or top-flight (flight meaning a group of military pilots, as in Top Gun).

Then there's "leading" in the sense of "going first", ahead of the others. The front edge of an aeroplane wing is the leading edge, or possibly the "cutting edge", which also means the sharp part of a knife blade, and "cutting-edge technology" (špičková technika) is the newest, the best, the sharpest, the highest-developed and most sophisticated. "State-of-the-art" could be understood as representing "najnovší stav remesla", so there isn't anything more modern, more ideal, more definitive, at least until tomorrow anyway.