Telesat Corporation, a publicly owned Canadian company founded in 1969, provides connectivity and distribution services globally. Employing approximately 600 people, the company generated revenue of around $500 million in 2023. A significant aspect of Telesat's operations is Telesat Lightspeed, a Low Earth Orbit (LEO) satellite network utilizing Ka-band technology.
On March 27, Telesat CEO Dan Goldberg reported that geopolitical shifts are increasing government interest in the company's low Earth orbit plans, spurred by rising global defense priorities and a demand for sovereign-controlled communications. This validates Telesat's shift from geostationary satellites as Starlink impacts its legacy broadband business. On April 2, 2025, the average one-year price target for Telesat (TSX:TSAT) increased to $45.78 per share, a 52.96% rise from the March 19, 2025 estimate of $29.93 per share. Separately, Telesat's Chief Commercial Officer, Glenn Katz, explained the company's strategy of focusing on wholesale satellite connectivity provision, rather than directly competing with Starlink. The company filed a report on December 31, 2024, with the SEC and SEDAR+.
Telesat's customers primarily consist of aviation and Aerospace Component Manufacturing, telecoms and digital signage and professional display companies. Examples of Telesat's customers include NASA, Bell Canada and Panasonic. Telesat has commercial and technical partners like Arabsat, Nelco and Avanti Communications. Examples of Telesat's suppliers include Intellian Technologies and Quantum Systems (QEST).
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