Satellite and space communications are moving from the sidelines to center stage in India, and Jio Platforms is at the heart of that shift. Its push into low orbit satellite connectivity, new partnerships with global constellation providers, and a planned IPO could reshape how investors think about this theme. For portfolios, the question is which stocks are most exposed to this news, and how that exposure fits your own risk and return expectations. This article walks through 3 stocks from our Satellite and Space Communications screener that appear positively tied to these developments.

AST SpaceMobile (ASTS)

Overview: AST SpaceMobile builds a space based mobile network designed to connect ordinary smartphones directly to its BlueBird satellites, aiming to provide broadband coverage in areas without terrestrial cell towers for both commercial users and government clients. Founded in 2017 and based in Midland, Texas, the company targets global connectivity gaps rather than competing with traditional mobile networks on existing ground coverage.

Operations: AST SpaceMobile currently reports all of its US$84.9 million in revenue from Wireless Communications Equipment sold in the United States.

Market Cap: US$33.2b

AST SpaceMobile sits in the center of the direct to device satellite theme, with a technology story that lines up closely with Jio’s push into low orbit connectivity and growing interest in filling mobile dead zones. The company has carrier partnerships, regulatory momentum and a plan to scale its BlueBird constellation, but it is still unprofitable and depends on heavy upfront investment and reliable launch access, which keeps execution risk high. Forecast revenue growth of around 49.6% a year and sector attention are factors that may help explain why some investors are willing to look past current losses and a P/B of about 11.6x. A key consideration is whether AST SpaceMobile’s early lead in this niche will translate into durable cash flows and justify that valuation.

AST SpaceMobile’s big bet on direct to device coverage, its forecast 49.6% revenue growth, and an 11.6x P/B suggest investors are already pricing in a lot, so tap into the analyst forecasts for AST SpaceMobile to see what might be missing

Aviat Networks (AVNW)

Overview: Aviat Networks builds microwave and wireless access networks that carry data and mobile traffic for telecom operators, utilities, public safety agencies, and governments across North America, Europe, Africa, Latin America, and Asia Pacific. Its portfolio spans radios, microwave routers, private LTE/5G, and software tools that help customers design, monitor, and manage high capacity wireless links.

Operations: Aviat Networks generates about US$434.1 million in revenue from designing, manufacturing, and selling a range of wireless networking products, solutions, and services, with demand spread across the United States, Europe, Africa and the Middle East, Latin America and Asia Pacific, and the rest of North America.

Market Cap: US$258.3 million

Aviat Networks gives you exposure to the backbone gear that can sit behind low orbit satellite rollouts like Jio’s, as operators and governments still need high capacity microwave and backhaul links to move that data on the ground. The company is tying together its Pasolink acquisition, new Multi band Max products, and a focus on utilities and private networks. Some analysts link this to stronger earnings even though revenue growth forecasts are modest. At the same time, recent results included a loss in the latest quarter, funding is entirely from external liabilities, and management tenure is short, so execution and balance sheet discipline matter. With some analysts seeing upside from today’s price, the key issue is whether Aviat’s India and broader 5G wins can offset that operational and financial risk profile.

Aviat Networks looks like a pure play on wireless backhaul just as satellite traffic ramps up, but the real story sits in the 3 key rewards and 1 important warning sign that may reveal what recent losses are hinting at.

KVH Industries (KVHI)

Overview: KVH Industries provides satellite based internet, voice, TV, and content services for ships, vehicles, and remote sites, combining its own terminals with managed connectivity and media packages aimed at keeping crews and passengers connected. Founded in 1982 and headquartered in Rhode Island, KVH Industries sells globally across commercial shipping, leisure marine, and land mobile customers.

Operations: KVH Industries generates about US$117.9 million in revenue from Mobile Connectivity services, with sales spread across the United States, Singapore, and other international markets.

Market Cap: US$188.0 million

KVH Industries operates within the real world demand for satellite connectivity, supplying hardware and subscription services to ships and remote users as industry participants such as Jio discuss low orbit plans. One widely used fair value estimate suggests the stock trades at a steep discount. Those expectations of growth and improving profitability, combined with a modest market cap, may be appealing to some investors, but they depend on the company managing its reliance on external borrowing and meeting the forecasts that have been set, particularly as it spends to compete for business linked to new constellations.

KVH Industries looks like a classic valuation story that many investors skim past. Before you write it off or assume the discount says it all, read the full narrative for KVH Industries and see what the market might be missing.

The three stocks covered here are just a starting point, and the full Satellite and Space Communications screener turns up 42 more companies with equally compelling satellite and space communications stories that may not be on your radar yet. Use Simply Wall St to identify, filter, and analyze the exact catalysts and narratives that matter to you so you can focus on the highest conviction ideas in this theme.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.