Viasat Wins U.S.Space Force Contract, Sending Shares Skyward
Viasat Inc. (VSAT) stock jumped as much as 13.93% in Wednesday trading after the satellite communications company announced a contract to design and develop a satellite system for the U.S. Space Force.The surge significantly outpaced the S&P 500’s 0.5% gain during the same period.
Viasat was selected as one of five companies awarded a prime contract to build a dedicated satellite network, demonstrating the Space Force’s confidence in the company’s established expertise. The initial phase of the project is expected to last seven months, according to Viasat.
“This contract underscores our proven track record in designing and delivering secure, resilient, and high-performance satellite communication solutions,” stated John Reeves, Viasat Vice President of Space and Mission Systems, in a press release. The system is intended to “provide critical capabilities to enable global connectivity and enhance warfighters’ situational awareness and operational effectiveness to meet emerging threats.”
While the financial details of the contract remain undisclosed, the announcement signals a significant win for Viasat, leveraging its core competencies in satellite design for a key government client. The company did not name the other companies involved in the project.
