Aerospace & Defense Satellite Communication Services sector
Strategic acquirers, private equity (buyout funds and growth funds) firms, and valuation benchmarks for Aerospace & Defense Satellite Communication Services
1.1 - About Aerospace & Defense Satellite Communication Services sector
Companies in the Aerospace & Defense Satellite Communication Services category provide managed, secure satellite connectivity for aircraft, maritime vessels, and defense platforms. They deliver global broadband and narrowband links, beyond-line-of-sight communications, and end-to-end network operations tailored to mission and fleet requirements. The category includes providers that integrate terminals, bandwidth, and ground infrastructure to ensure resilient communications across LEO, MEO, and GEO constellations.
Typical offerings span airborne satcom for cockpit and cabin connectivity, maritime VSAT for fleet operations, and tactical satcom-on-the-move for land and naval units. Vendors deliver Ka/Ku/C-band capacity, managed teleport and gateway services, network monitoring portals with QoS and SLA controls, secure encryption and COMSEC integration, antenna and terminal provisioning, and interoperability with LEO/MEO backhaul to optimize throughput, latency, and availability in contested or remote environments.
Primary customers include defense ministries and agencies, aerospace OEMs and commercial airlines, and maritime shipping and offshore operators. Outcomes include assured beyond-line-of-sight command and control, higher uptime and coverage across global routes, improved bandwidth efficiency and latency for mission-critical applications, and hardened, compliant communications that meet regulatory and cybersecurity requirements—supporting operational readiness and reduced risk for strategic buyers evaluating satcom providers.
2. Buyers in the Aerospace & Defense Satellite Communication Services sector
2.1 Top strategic acquirers of Aerospace & Defense Satellite Communication Services companies
Viasat
HQ: United States
Website
- Description: Provider of software, high-speed connectivity and managed internet services serving home, business, aviation, enterprise and government customers, offering cloud-based document management, airborne Wi-Fi, enterprise broadband, cybersecurity and data analytics solutions that enable reliable communication, real-time information access and network protection across terrestrial and satellite environments.
- Key Products:
- Satellite Networks: Operates satellite networks delivering broadband and narrowband connectivity through owned satellite fleet, providing high-speed internet access across consumer, enterprise, aviation and maritime markets
- Cybersecurity and Information Assurance Products: Supplies secure networking and tactical data link solutions that encrypt and protect mission-critical communications for government and defense operations in contested environments
- Fixed and Mobile Broadband Services: Provides satellite-based internet plans for homes, small businesses, airlines, maritime and energy customers, enabling reliable high-speed connectivity where terrestrial networks are unavailable
- Antenna and Space System Design & Development: Designs and builds antenna systems, modules, subsystems and virtualized network functions supporting advanced satellite communication payloads and ground infrastructure projects.
- Company type: Private company
- Employees: ●●●●●
- Total funding raised: $●●●m
- Backers: ●●●●●●●●●●
- Acquisitions: ●●
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2.2 - Strategic buyer groups for Aerospace & Defense Satellite Communication Services sector
M&A buyer group 1: NewSpace
57 companies
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Description: Companies in the Aerospace NewSpace Satellite Infrastructure Solutions category design, build, and operate commercial spacecraft and satellite networks that deliver Earth observation data, global connectivity, and mission hardware. They provide standardized satellite platforms, imaging constellations, and ground operations that shorten time-to-orbit and expand coverage. Customers gain reliable imagery, secure communications, and turnkey payload integration backed by scalable manufacturing and mission services.
Thales
- Type: N/A
- Employees: ●●●●●
- Description: Provider of advanced technology, equipment and service solutions across aerospace, space, transportation, defence and security markets, supplying sophisticated onboard aviation systems, civil and military satellites, rail signalling and train control solutions, electronic warfare sensors, missile systems, secure mobile communications, encryption technology and command-and-control platforms.
- Key Products:
- FlytCare: Turnkey maintenance service supporting airline IFEC systems with customized spares, repairs, logistics and performance guarantees, ensuring seamless operations and high seat dispatch rates
- Network Operations Center (NOC): 24/7 Network Operations Center monitors aircraft connectivity, uses LiveConnect for real-time issue detection, coordinates with satellite providers and engineers to rapidly restore committed service levels
- Cybersecurity Operations Center (CSOC): Centralized Cybersecurity Operations Center delivers threat intelligence, dashboards, vulnerability management, log archiving and automated response, ensuring continuous detection, prevention and rapid mitigation of cyber incidents
- Aircraft Technical Services (ATS): Aircraft Technical Services deliver on-wing line maintenance, system checks, cabin sweeps and performance planning to maximize ground time usage and minimize passenger disruption.
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Buyer group 2: ████████ ████████
●● companies
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Key Products: ████████, ████████, ████████, ████████
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Buyer group 3: ████████ ████████
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Key Products: ████████, ████████, ████████, ████████
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3. Investors and private equity firms in Aerospace & Defense Satellite Communication Services sector
3.1 - Buyout funds in the Aerospace & Defense Satellite Communication Services sector
2.2 - Strategic buyer groups for Aerospace & Defense Satellite Communication Services sector
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4 - Top valuation comps for Aerospace & Defense Satellite Communication Services companies
4.2 - Public trading comparable groups for Aerospace & Defense Satellite Communication Services sector
Valuation benchmark group 1: Enterprise Connectivity Telecom Operators
6 companies
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Description: Companies in this public trading comparables group are telecom network operators delivering enterprise-grade connectivity—wireless, fixed broadband, dedicated internet, and satellite—plus managed networking and communications services. Their models center on recurring access, usage, and wholesale revenues backed by large-scale infrastructure. They are grouped as valuation benchmarks because they monetize carrier networks to serve business connectivity needs across geographies with similar capital intensity and margin profiles.
Verizon Communications
- Enterprise value: $●●●m
- Market Cap: $●●●m
- EV/Revenue: ●.●x
- EV/EBITDA: ●●.●x
- Description: Provider of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Offers wireless and wireline communications services, video, conferencing, corporate networking, security, managed network services, and IoT products, as well as fixed wireless access, fiber-optic network, and copper-based network services.
- Key Products:
- Wireless phone services: Provider of mobile phone services with extensive coverage
- Fixed wireless access broadband: Offers high-speed internet services over wireless networks
- Corporate networking solutions: Includes secure and private network services for businesses
- IoT products: Provides various IoT solutions such as smart cities, fleet management, and asset tracking
- Video and conferencing services: Offers video conferencing tools and solutions for virtual meetings.
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Revenue growth
Median
15.7%
2025E
16.0%
2026E
EBITDA margin
Median
28.2%
2025E
28.6%
2026E
Cash EBITDA margin
Median
27.6%
2025E
28.0%
2026E
EV/Revenue
Median
8.4x
2025E
6.8x
2026E
EV/EBITDA
Median
28.9x
2025E
24.4x
2026E
EV/Cash EBITDA
Median
29.0x
2025E
25.5x
2026E
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