Globalstar Secures Major Government Contracts, Enhances Defense Tech Capabilities

Globalstar has secured major government contracts and boosted its defense technology capabilities. The company has announced new contracts and partnerships, successfully completed a proof of concept with Parsons, and is conducting XCOM RAN-based 5G research to support high-capacity, mission-critical defense applications. These developments demonstrate Globalstar's growing presence in the government sector and its commitment to advancing defense technology.

Globalstar (NASDAQ: GSAT) has secured significant government contracts and partnerships, further enhancing its defense technology capabilities. The company announced multiple new contracts and partnerships, including a successful proof of concept with Parsons, and is conducting XCOM RAN-based 5G research to support high-capacity, mission-critical defense applications [1].

The successful completion of the proof of concept with Parsons marks a significant step towards the commercialization of their satellite-enabled communications solution. This collaboration underscores Parsons' commitment to innovation in advanced technology collaborations and Globalstar's growing presence in the government sector [2].

Globalstar's Band 53 spectrum and Low Earth Orbit (LEO) satellite network enable hybrid terrestrial-satellite connectivity, which is crucial for high-capacity, mission-critical defense applications. The company expects these current government contracts to generate at least $60 million in revenue over five years, with significant growth in defense-related revenue anticipated beyond current contract minimums [1].

These developments not only demonstrate Globalstar's growing presence in the government sector but also highlight its commitment to advancing defense technology. The company's strategic partnerships and technological advancements position it well to capitalize on future opportunities in the defense market.

References:
[1] https://seekingalpha.com/news/4485770-globalstar-secures-major-government-contracts-boosts-defense-tech-capabilities
[2] https://simplywall.st/stocks/us/commercial-services/nyse-psn/parsons/news/will-parsons-psn-raised-revenue-outlook-and-tech-progress-wi