Gilat's Airborne Technology Enables Opening-up of the Chinese Ka-Band IFEC Market and Driving a Multi-Million Dollar Market Opportunity
Gilat Satellite Networks (NASDAQ: GILT) announces the successful launch of its Taurus aero modem for Qingdao Airlines' In-flight Entertainment and Connectivity (IFEC) service via China Satcom's CS-16 Ka-HTS satellite. This marks a significant milestone in the Chinese Ka-band IFEC market, opening a multi-million-dollar opportunity. The A320 aircraft has begun commercial service after a successful inaugural flight on July 7, 2020, becoming the first in China to feature a Ka-band IFEC system. Gilat aims to leverage partnerships to drive growth in this strategic market.
- Successful launch of Taurus aero modem enhances Gilat's market position.
- Opening of Chinese Ka-band IFEC market presents a multi-million-dollar opportunity.
- First commercial use of Ka-band IFEC system in China expands Gilat's reach.
- None.
PETAH TIKVA, Israel, July 07, 2020 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announces that Gilat's aero modem, Taurus, is powering In-flight Entertainment and Connectivity (IFEC) service to China's Qingdao Airlines. The service is provided by China Satcom, over CS-16 Ka-HTS satellite together with its partner China TDT LINK (contents/service provider to passengers). The whole Ka-band IFEC system was integrated by FTS, a leading Chinese system integrator, who received the STC/VSTC for this IFEC early this year. This milestone of opening-up of the Chinese Ka-band IFEC market is the driver for a multi-million-dollar market opportunity.
The Qingdao Airlines’ A320 aircraft has started to provide the Ka band satcom based IFEC commercial service, after a very successful flight from Qingdao to Chengdu on July 7, 2020, with its IFEC system formally open to the passengers for the first time. As of today, there are more than 3,500 commercial aircraft operating in China and this aircraft is the first one retrofitted with a Ka band IFEC system.
"Gilat is proud to have been selected by our long-term partners China Satcom and FTS, and most pleased with the joint effort of integrating our proven IFC modem, Taurus, to enable opening of the Chinese skies for broadband connectivity,” said Yuan Si, China Country Manager for Gilat. "Gilat views China as a strategic focus area, and this success marks yet another important landmark in Gilat's vision of enabling plentiful quality affordable broadband connectivity everywhere. We look forward to continued collaboration with our strategic partners, to jointly reap the benefits of this multi-million-dollar China IFC market."
About Gilat
Gilat Satellite Networks Ltd. (NASDAQ: GILT, TASE: GILT) is a leading global provider of satellite-based broadband communications. With 30 years of experience, we design and manufacture cutting-edge ground segment equipment, and provide comprehensive solutions and end-to-end services, powered by our innovative technology. Delivering high value competitive solutions, our portfolio comprises of a cloud based VSAT network platform, high-speed modems, high performance on-the-move antennas and high efficiency, high power Solid State Amplifiers (SSPA) and Block Upconverters (BUC).
Gilat’s comprehensive solutions support multiple applications with a full portfolio of products to address key applications including broadband access, cellular backhaul, enterprise, in-flight connectivity, maritime, trains, defense and public safety, all while meeting the most stringent service level requirements. Gilat controlling shareholders are the FIMI Private Equity Funds. For more information, please visit: www.gilat.com
Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words "estimate", "project", "intend", "expect", "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Many factors could cause the actual results, performance or achievements of Gilat to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, among others, changes in general economic and business conditions, inability to maintain market acceptance to Gilat's products, inability to timely develop and introduce new technologies, products and applications, rapid changes in the market for Gilat's products, loss of market share and pressure on prices resulting from competition, introduction of competing products by other companies, inability to manage growth and expansion, loss of key OEM partners, inability to attract and retain qualified personnel, inability to protect the Company's proprietary technology and risks associated with Gilat's international operations and its location in Israel. In addition, there is uncertainty about the spread of the COVID-19 virus and the impact it will have on the Company’s operations, the demand for Company’s products, global supply chains and economic activity in general. These and other risks and uncertainties are detailed in the Company’s Securities and Exchange Commission filings. We undertake no obligation to update or revise any forward-looking statements for any reason. For additional information regarding these and other risks and uncertainties associated with Gilat's business, reference is made to Gilat's reports filed from time to time with the Securities and Exchange Commission.
Contact:
Gilat Satellite Networks Doreet Oren DoreetO@gilat.com
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