Investing.com - Shares of Gilat Satellite Networks Ltd (NASDAQ: GILT ) rose 4.3% after the satellite network technology company announced that it has received orders worth more than $22 million from leading satellite operators worldwide.
The orders, scheduled for delivery over the next twelve months, are from multiple satellite operators and reflect Gilat's growing role in providing advanced connectivity across multiple satellite constellations, including GEO, MEO and LEO. In particular, the company has seen positive development in the fast-growing in-flight connectivity (IFC) market.
These new contracts underscore the industry's confidence in Gilat's product portfolio, which includes ground segment infrastructure, system management solutions and specialized offerings for mobility and broadband services. The company's technology is designed to meet the performance and scalability requirements of next-generation satellite networks.
"Our ongoing partnership with leading satellite operators underscores Gilat's critical role in the evolution of satellite connectivity," said Ron Levin, President of Gilat's Commercial Division. "These new contracts demonstrate confidence in our ability to support large-scale, high-performance deployments while strengthening our position as a key player in all orbital architectures."
Gilat continues to evolve its multi-orbit portfolio to meet the growing global demand for broadband, mobility and enterprise connectivity services. The company is positioning itself as a key technology provider that enables satellite operators to expand their service offerings in different market segments.
