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TSAT advances Lightspeed LEO satellite buildout with $2.7B Canadian defense deal, aiming global service by 2028

Analyst Insights
16 Aug 2026
Seeking Alpha
View Source
Bullish
TSAT advances Lightspeed LEO satellite buildout with $2.7B Canadian defense deal, aiming global service by 2028

Telesat Corporation (TSAT) is transitioning from its declining geostationary satellite business to focus on its Lightspeed low-Earth-orbit (LEO) broadband project. The Lightspeed constellation has expanded to 225 satellites, targeting global commercial service by the end of Q1 2028. TSAT also secured a C$2.7 billion Canadian defense contract, suggesting a total LEO backlog near C$5.6 billion, underpinning the long-term strategic value of Lightspeed. This progress makes TSAT shares a speculative buy at current levels.

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