A stunning long-exposure photograph captures the mesmerizing trail left by SpaceX’s Falcon Heavy rocket during the successful launch of the ViaSat-3 Americas satellite in Florida on April 30, 2023.
Image source: Viasat
Viasat‘s stock experienced a decline in after-hours trading on Wednesday following the announcement of a malfunction in its recently deployed communications satellite.
The Carlsbad, California-based company revealed that an “unexpected event” occurred while deploying the reflector of its Viasat-3 Americas satellite, which could have a significant impact on performance. The satellite was successfully launched aboard SpaceX’s Falcon Heavy rocket in April.
“We are disappointed by the recent turn of events,” stated Mark Dankberg, CEO of Viasat.
Shares of Viasat dropped by as much as 21% during extended trading, starting from its previous closing price of $42.98 per share.
Sign up here to receive weekly editions of CNBC’s Investing in Space newsletter
In its announcement, Viasat did not disclose the identity of the reflector’s manufacturer, but Dankberg mentioned that his company was collaborating closely with the manufacturer to resolve the issue. A spokesperson from Viasat confirmed to CNBC that the manufacturer is a prominent aerospace and defense company, excluding Boeing, which built the spacecraft’s structure and power.
The design of the reflector on the Viasat-3 Americas satellite appears to align with the “AstroMesh” line of reflectors advertised by Northrop Grumman. Additionally, Viasat stated that the “long boom arm” supporting the reflector is a “direct derivative” of the telescoping booms developed by Northrop Grumman for NASA’s James Webb Space Telescope.
Viasat previously acknowledged the contributions of both Boeing and Northrop Grumman as part of their joint team behind the Viasat-3 Americas satellite.
Northrop Grumman has not yet responded to CNBC’s request for comment.
An artist’s rendering showcases the ViaSat-3 Americas satellite gracefully orbiting above the Earth.
Image source: Viasat
Viasat emphasized that the incident would not disrupt its existing customers, as the company has 12 other satellites in operation.
The Viasat-3 Americas satellite is the first of three satellites that Viasat intends to deploy to enhance its broadband business. In a press release, Viasat mentioned the possibility of reallocating one of its upcoming ViaSat-3 satellites, originally intended for EMEA (Europe, the Middle East, and Africa) and APAC (Asia-Pacific) coverage, to replace the malfunctioning satellite originally designed for North and South America.
According to industry publication SpaceIntelReport, if the satellite is lost, Viasat may be eligible for a $420 million insurance claim. A space insurance underwriter described the situation as a “market changing event” within the sector.
Denial of responsibility! VigourTimes is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
