Market Narratives, Jun 24, 2026

RUNNING Defense Satellite Connectivity

STRENGTH 65

Gilat Satellite Networks lands multi-million dollar European defense contract, spotlighting satellite communications spending

Gilat Satellite Networks announced a multi-million dollar order to supply custom SATCOM terminals to a European Ministry of Defense. This contract win underscores the growing prioritization of resilient satellite communications infrastructure by NATO-aligned nations. The broader space/satellite sector has been on a multi-month run as defense budgets shift toward space-based assets; GILT itself has lagged peers and this contract could mark a catalyst for catch-up.

LEADERS already moved

LUNR

Intuitive Machines, Inc.

+117.4%5D -10.3%

Mid $4.5B

RKLB

Rocket Lab Corp

+39.9%5D -9.1%

Large $55.1B

IRDM

Iridium Communications Inc.

—5D +1.6%

Mid $4.7B

GSAT

Globalstar, Inc.

—5D +0.2%

Large $10.3B

LAGGARDS room to catch up

Planet Labs PBC

—5D +1.1%

Large $10.2B

Satellite imagery/data analytics leader; strong multi-month run

Heavy lift — a large-cap that needs major capital to move.

GILT

GILAT SATELLITE NETWORKS LTD

—5D -9.7%

Small $923M

Just won multi-million $ defense SATCOM contract; small cap laggard in the theme

Nimble — a smaller name that can close the gap quickly.