Gilat Secures Over $25 Million in Orders for Satellite Solutions

Published 1 hours agoGILT

Gilat Secures Over $25 Million in Orders for Satellite Solutions

Gilat Satellite Networks recently announced securing over $25 million in new orders for its multi-orbit satellite solutions. These contracts signal substantial growth in demand for Gilat's technology across a range of applications. In January 2025, the company received $9 million in orders from major satellite operators for its advanced SkyEdge IV and SkyEdge II-c platforms, with deliveries expected within a year.

In April 2025, Gilat further strengthened its position with over $15 million in orders from leading global satellite operators. These latest contracts, to be delivered throughout the year, focus on multi-service uses, especially in In-Flight Connectivity across GEO, MEO, and LEO Very High Throughput Satellite constellations. Earlier, in April 2024, Gilat's U.S. subsidiary, DataPath, was awarded a $12 million contract to supply the U.S. Army with satellite connectivity enhancements, as reported by Satellite Today.

Additionally, April 2024 saw contracts totaling $13 million with various satellite operators to expand their networks using Gilat's SkyEdge IV capabilities. These ongoing developments indicate Gilat's continuing prominence in both commercial and defense sectors, showcasing the company's multi-orbit satellite technology and commitment to global communication solutions.

Share this article

Twitter Facebook LinkedIn

Recent Articles

JPMorgan Chase Launches Exclusive Financial Centers for Affluent Clients

JPMorgan Chase Launches Exclusive Financial Centers for Affluent Clients

8 minutes agoJPM

JPMorgan Chase is enhancing its focus on affluent clients by introducing J.P. Morgan Financial Centers, with new branches opening in New York's Columbus Circle and San Francisco's Financial District. These centers are specifically designed for clients with over $750,000 in qualifying deposits and investments. The new Financial Centers offer personalized services, including private meeting spaces, access to Senior Private Client Bankers, and a dedicated concierge service team. These premium services provide customized banking, lending, and wealth management experiences. In its report, JPMorgan highlighted the integration of features from First Republic Bank, such as open meeting spaces, after acquiring it earlier in 2023. JPMorgan Chase's strategy includes the opening of over 30 Financial Centers by the end of 2026, reflecting its commitment to expanding in the affluent market. Enhanced client experiences such as complimentary coffee, snacks, and signature bites aim to create a hospitality-focused environment, enhancing the service landscape for its wealthier client base.

Tesla Faces 49% Sales Drop in Europe Due to Image and Competition

Tesla Faces 49% Sales Drop in Europe Due to Image and Competition

23 minutes agoTSLA

Tesla has seen its European sales fall by a striking 49% in April 2025, marking the fourth month in a row of declining numbers. Reuters reported these figures, showing the stark decrease in Tesla's presence in the region's competitive electric vehicle market. Multiple factors are playing into this downturn. Brand image concerns have surfaced as CEO Elon Musk's political activities, specifically his support of Germany's far-right Alternative for Germany (AfD) party, have led to significant consumer backlash. Euronews highlights that this backlash has hurt the company's appeal, particularly among European buyers. Meanwhile, competition is heating up with Chinese automaker BYD overtaking Tesla for the first time in European electric vehicle sales; BYD sold 7,231 units compared to Tesla's 7,165 last month. In addition to these challenges, Tesla's Model Y production has slowed due to upgrades, affecting availability. The company's market share has also dipped from 1.3% to 0.7% during the same period, signaling a broader shift. Tesla now faces the task of adjusting its strategies to overcome these hurdles, including enhancing its product lineup and addressing the competitive pressures in the electric vehicle landscape.

Volcon ePowersports Expands Market Reach with New Order and Share Repurchase

Volcon ePowersports Expands Market Reach with New Order and Share Repurchase

38 minutes agoVLCN

Volcon ePowersports has announced a major business development with Venom-EV LLC placing an order for 500 golf carts. This order signals Volcon's strategic movement into the golf cart sector, broadening its product offerings and market reach as reported by Volcon's official site. In addition to the new product order, Volcon's Board of Directors has approved a share repurchase program. This initiative permits the company to buy back up to $2 million worth of its common stock by March 7, 2026. This move demonstrates the board's confidence in the company's direction and future potential. These developments are part of Volcon's broader strategy to diversify its business and deliver greater value to shareholders. By entering new markets and reaffirming commitment to its investors, Volcon is positioning itself for sustained growth and stability.

PDD Holdings Misses Revenue Estimates Amid Intensified Competition

PDD Holdings Misses Revenue Estimates Amid Intensified Competition

PDD Holdings, the parent company of popular e-commerce platforms Pinduoduo and Temu, has encountered financial hurdles in the first quarter of 2025. The company reported revenue of 95.67 billion yuan ($13.30 billion), which fell short of analyst expectations pegged at 102.51 billion yuan, according to Reuters. This shortfall underscores some of the difficulties the Chinese retail giant is facing both domestically and internationally. The company's profit took a significant hit, with net income plunging by 47% from the previous year to 14.74 billion yuan. Weak consumer sentiment in China, exacerbated by a prolonged property crisis, contributed to this decline by cutting down consumer spending. Moreover, the domestic market is seeing intensified competition as local rivals such as Alibaba and JD.com adopt aggressive pricing strategies to capture market share. The challenges for PDD Holdings aren’t limited to China. As Temu ventures into international markets, it faces uncertainties in the global trade environment impacted by ongoing U.S.-China trade tensions. These strains have contributed to a drop in confidence, as reflected by a more than 15% fall in the company's U.S.-listed shares in premarket trading following the earnings report. While the company navigates these complex challenges, it remains positioned at the center of significant economic and competitive pressures.