GILT | Market Cap: $871.7M (07/13/26)
Industry:
Hardware Aerospace & Defense Telecom
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DESCRIPTION

Gilat Satellite Networks is an Israel-based company that designs and manufactures ground-based satellite communications equipment and delivers managed connectivity services globally. Gilat operates through three segments: Gilat Commercial (~62% of revenue), Gilat Defense (~22%), and Gilat Peru (~16%). On the commercial side, Gilat sells VSAT terminals, network hubs, RF amplifiers, and electronically steered array antennas, primarily to satellite operators, telecom providers, and system integrators. In-flight connectivity (IFC) is a key growth driver: Gilat's SkyEdge IV platform manages satellite networks for IFC operators, and its Sidewinder ESA terminal (acquired via Stellar Blue in January 2025) is installed on aircraft for airline connectivity. The Wavestream subsidiary manufactures RF amplifiers (SSPAs and BUCs), including for LEO constellation gateways. The defense segment, anchored by the DataPath subsidiary, supplies secure satellite terminals and field services primarily to the U.S. Department of Defense. The Peru segment operates large government-funded broadband networks under Build-Operate-Transfer and Build-Operate-Own contracts, earning recurring revenue by running rural connectivity infrastructure under long-term agreements with Peru's government. Gilat derives roughly 73% of revenue from equipment sales and 27% from services. Gilat typically enters a year with 50–60% of annual revenue covered by backlog. Key growth priorities include scaling Sidewinder terminal deliveries, pursuing Boeing and Airbus line-fit certification, expanding the defense business through M&A, and replicating the Peru model in other emerging markets.

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