ViaSat, Inc. (NASDAQ:VSAT) shares are trading higher on Wednesday after the company announced it has been selected for a prime contract award by the U.S. Space Force Space Systems Command for the Protected Tactical SATCOM-Global program.
VSAT shares are at critical resistance. Get the inside scoop here.
What To Know: Viasat is one of five awardees to receive an initial Delivery Order 1 contract under an Indefinite Delivery Indefinite Quantity agreement that aims to develop a small geosynchronous Earth orbit satellite constellation designed to enhance resilience and anti-jamming capabilities.
The first launch is projected for 2028.
Under the initial seven-month award, Viasat's Space and Mission Systems team will mature a design for a dual-band X/Ka-band satellite and anchor station architecture, covering telemetry, command, network operations,= and cybersecurity requirements.
The program, which carries a ceiling value of $4 billion for all awardees, supports the U.S. Space Force's initiative to deploy maneuverable GEO satellites that improve the security and agility of military communications.
John Reeves, vice president of Space and Mission Systems at Viasat Government, said the company's dual-band design and experience in secure communication solutions will enhance global connectivity and operational effectiveness for U.S. forces.
VSAT Price Action: ViaSat shares closed Wednesday up 13.96% higher at $35.66, according to data from Benzinga Pro.
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