Lumen Technologies and Viasat represent two distinct infrastructure plays in global communications. Lumen is transitioning from legacy services to enterprise fiber and AI networking following its residential fiber divestiture to AT&T, but faces significant debt and declining revenue. Viasat provides satellite-based connectivity with strong government contracts and improving cash flow, though it carries substantial debt and faces competition from well-capitalized rivals. The analysis concludes Viasat is the better buy in 2026 due to its alignment with satellite data service trends and stronger financial trajectory.

Viasat showcased the first automotive satellite voice call demonstration integrated into a BMW Group vehicle at the 5G Automotive Association Meeting in Munich. The technology, utilizing Qualcomm's Snapdragon Auto 5G Modem and Fraunhofer IIS NESC AI voice codec, enables voice and messaging connectivity via NB-IoT protocol over Viasat's L-band satellite network in areas with limited cellular coverage.

Rocket Lab announced an $8 billion acquisition of Iridium Communications, which sparked investor enthusiasm across the space sector. Viasat stock surged 19.74% despite not being directly involved in the deal, as investors speculate it could become a future merger target due to its valuable wireless spectrum holdings. The acquisition signals industry consolidation as smaller space companies seek to compete with SpaceX.

Following SpaceX's record IPO with a lofty valuation, investors seeking satellite economy exposure may consider three alternatives: Rocket Lab, which competes directly with SpaceX's launch services; AST SpaceMobile, offering 5G satellite connectivity to smartphones; and Viasat, with strong defense contracts offsetting aviation challenges. Each presents unique opportunities and risks in the growing space industry.

Viasat secured a lucrative $437.7 million Space Force contract under the Protected Tactical SATCOM-Global program to develop maneuverable, anti-jam mini-GEO satellites. Following its 2023 Inmarsat acquisition, the company has shifted to 75% government/enterprise revenue. With completion of its ViaSat-3 constellation in April 2026, Viasat is transitioning from heavy capital expenditure to cash generation, positioning it for margin expansion. Activist investor Carronade Capital suggests a defense unit spinoff could unlock $11 billion in shareholder value.

Rather than buying SpaceX directly at its $1.75 trillion valuation, investors may find better opportunities in three publicly traded companies positioned to benefit from SpaceX's infrastructure expansion: Intuitive Machines (lunar missions and NASA contracts), AST SpaceMobile (satellite broadband network using SpaceX launches), and Viasat (government/defense satellite communications).

Viasat stock surged 18.2% after winning a U.S. Space Force contract to build a mini-GEO dual X/Ka-band communications satellite as part of the Protected Tactical SATCOM-Global (PTS-G) program. The contract, worth approximately $219 million (half of the $437.7 million total awarded to both Viasat and Intelsat), represents about 4.7% of Viasat's trailing-12-month sales and could expand significantly if follow-on orders materialize under the program's $4 billion ceiling.

With SpaceX's anticipated IPO potentially being the largest ever at nearly $2 trillion valuation, investors seeking exposure to the company may consider space-focused ETFs like Ark Space & Defense Innovation (ARKX) and Procure Space ETF (UFO) as lower-risk alternatives to buying SpaceX shares directly. Both ETFs have shown strong performance and are likely candidates to add SpaceX to their portfolios.

Viasat has been selected by Lockheed Martin to provide satellite communications technology for NOAA's next-generation C-130J Hercules aircraft program. The line-fit integration of Viasat's Hybrid SATCOM Approach will deliver high-capacity, resilient connectivity for hurricane reconnaissance missions, with aircraft expected to enter service by 2030. This marks the first formal factory integration of the HSA technology on the C-130J platform.

Viasat announced it will release its fourth quarter and fiscal year 2026 financial results on May 28, 2026 after market close, followed by a conference call and webcast at 2:30 p.m. Pacific Time. The company will discuss results with investors via live call and archived webcast.

SpaceX's anticipated $75 billion IPO at a $1.75 trillion valuation is reshaping the space sector and creating investment opportunities across publicly traded space companies. Starfighters Space announced a partnership with Mu-G Technologies to respond to a NASA RFI for commercial microgravity services, while other space sector companies are benefiting from increased government spending on defense, lunar initiatives, and commercial space infrastructure.

The global in-flight retail and advertising market is projected to grow from $3.4 billion in 2025 to $5.9 billion by 2032, driven by digital transformation, AI-powered personalization, and mobile shopping experiences. Key growth drivers include digital payment solutions, premium travel segment expansion, and sustainability initiatives, though challenges include variable passenger engagement and connectivity limitations.