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The UK Micro VSAT market is projected to grow at a CAGR of 7.9% from 2023 to 2033, driven by advancements in satellite technology and increasing demand for broadband services across various sectors. The Ka-band is expected to dominate market share, while land applications lead in usage. Recent developments include Ovzon"s contract renewal with the UK Ministry of Defence, highlighting the sector"s strategic importance.
Firefly Aerospace has secured $175 million in an oversubscribed Series D funding round led by RPM Ventures, boosting its valuation to over $2 billion. The investment will enhance production of the Alpha launch vehicle and expand the Elytra spacecraft's market reach, emphasizing responsive space capabilities. Despite securing multiple launch contracts, the company has conducted only one Alpha launch this year, with plans for more in 2024.
L3Harris Technologies, Inc. focuses on designing, manufacturing, and marketing information and communications equipment for defense, government, and commercial sectors. Their net sales are primarily derived from space and airborne systems (35%), integrated mission systems (33.8%), and communication systems (25.9%), with 70.5% coming from product sales and 29.5% from services. The U.S. market represents 78.5% of their net sales.
L3Harris Technologies, Inc. focuses on designing, manufacturing, and marketing information and communications equipment for defense, government, and commercial sectors. Their net sales are primarily derived from space and airborne systems (35%), integrated mission systems (33.8%), and communication systems (25.9%), with 70.5% coming from product sales and 29.5% from services. The U.S. market represents 78.5% of their net sales.
Stock futures showed little movement after the S&P 500 ended a three-day losing streak, with futures for the index and Nasdaq 100 both up less than 0.1%. L3Harris shares surged over 4% following strong earnings, while Dexcom fell despite beating expectations. The Dow lagged, dropping over 140 points, primarily due to declines in IBM and Boeing, as all major indexes are set to end the week with losses, breaking six-week win streaks. Investors are awaiting earnings reports and economic data releases on consumer sentiment and durable goods.
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