Gilat Shipped Initial Aero Modems Out of a Multi-Million-Dollar Potential in China

Rhea-AI Summary

Gilat Satellite Networks (NASDAQ: GILT) has begun shipping its aero modems to a leading Chinese system integrator for installation on the fleet of the first airline in China, as well as additional domestic airlines. This is part of a multi-million-dollar potential deal. The Ka-band In-flight Entertainment and Connectivity (IFEC) system has been successfully operational on the initial aircraft, enhancing passenger experiences. The deal targets up to 3,500 commercial aircraft in China, indicating significant growth opportunities in the IFEC market.

Positive

• Shipment of aero modems represents a multi-million-dollar potential contract in China.
• Successful operation of IFEC on initial aircraft demonstrates product reliability.
• Potential to equip up to 3,500 commercial aircraft enhances future revenue prospects.

Negative

• None.

Gilat's Aero modem, for Ka-band IFEC to be installed on the entire fleet of first Chinese airline and on additional domestic airlines

PETAH TIKVA, Feb. 11, 2021 (GLOBE NEWSWIRE) -- Gilat Satellite Networks Ltd. (NASDAQ, TASE: GILT), a worldwide leader in satellite networking technology, solutions and services, announces that Gilat has shipped initial aero modems, out of a multi-million-dollar potential in China. A leading Chinese system integrator, to install Gilat's aero modem, for the Ka-band In-flight Entertainment and Connectivity (IFEC) system, on the entire fleet of the first airline in China and on additional domestic airlines.

IFEC on-board the first aircraft is already operational, providing commercial service with remarkable performance, enabled by Gilat's aero modem, Taurus. The Chinese airline is the first fleet out of a potential of 3,500 commercial aircraft operating in China.

"Gilat is most appreciative of the close partnership with the Chinese integrator, and the joint effort of ramping up the airline's fleet of aircraft with Gilat's proven aero modem, Taurus," said Yuan Si, China Country Manager for Gilat. "We are pleased to see the in-flight connectivity business moving forward in China and look forward to equipping additional airlines with Gilat's high-performance aero modem, enabling passengers an excellent IFEC user experience."

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, risks associated with the outbreak and global spread of the coronavirus (COVID-19) pandemic; 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. 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. We undertake no obligation to update or revise any forward-looking statements for any reason.

Contact:
Gilat Satellite Networks
Doreet Oren, Director Corporate Communications
DoreetO@gilat.com

GK Investor and Public Relations
Ehud Helft, Managing Partner
ehud@gkir.com

FAQ

What does Gilat Satellite Networks do?

Gilat Satellite Networks provides satellite-based broadband communications and related solutions.

What is the significance of Gilat's aero modems for GILT's business?

The shipment of aero modems to Chinese airlines could greatly enhance GILT's revenue and market presence.

When did Gilat begin shipping its aero modems?

Gilat began shipping its aero modems on February 11, 2021.

What is the market potential for Gilat's aero modems in China?

Gilat's aero modems are targeted for up to 3,500 commercial aircraft in China.

How does Gilat's partnership with Chinese airlines impact its growth?

The partnership opens doors for future installations and solidifies Gilat's position in the in-flight connectivity market.