LEO Satellite Stocks: Satellite Supply Chain Map

Dielectric Ceramic Powder L4・Upstream

• 🇯🇵 Sakai Chemical Industry Co.,Ltd.（4078） — 「高純度誘電体材料、誘電体粉末の製造販売」 Source: 4078 FY2026 annual securities report (EDINET, Japanese original), section starting p.6

Compound Semi Epi Wafer L3・Upstream

• 🇹🇼 VPEC（2455） — 「10 FP/DFB LD 磊晶片」 Source: 2455 FY2025 annual report (Chinese original), section starting p.74
• 🇹🇼 LandMark（3081） — 「Photo-detector・1100nm ~1650nm」 Source: 3081 FY2025 annual report (Chinese original), section starting p.79
• 🇹🇼 TrueLight（3234） — 「磊晶片生產流程 (MOCVD 磊晶 ) 晶圓生產流程 (Wafer」 Source: 3234 FY2025 annual report (Chinese original), section starting p.73
• 🇹🇼 GWC（6488） — 「磊晶片、拋光片、退火片、 擴散片、 SOI 、 FZ 晶圓 … 等，另外更跨足」 Source: 6488 FY2025 annual report (Chinese original), section starting p.114
• 🇺🇸 WOLFSPEED, INC.（WOLF） — 「Our silicon carbide materials products consist of silicon carbide bare wafers, epitaxial wafers, and GaN epitaxial layers on silicon carbide wafers.」 Source: WOLF FY2025 annual report (10-K/20-F)

Compound Semi Foundry L3・Upstream

• 🇹🇼 WIN（3105） — 「穩懋半導體致力於提供客戶最佳品質的三五族化合物半導體電路製程之晶圓」 Source: 3105 FY2024 annual report (Chinese original), section starting p.85・not repeated in the latest annual report

Printed Circuit Board (PCB) L3・Upstream

No collected annual-report disclosure for this item yet — the segment may be dominated by non-Taiwan or unlisted players, or not yet covered.

RF Power Amplifier L2・Upstream

• 🇹🇼 WIN（3105） — 「寬頻衛星通訊 (Broadband Satellite Communication)・pHEMT」 Source: 3105 FY2025 annual report (Chinese original), section starting p.85
• 🇹🇼 GCS（4991） — 「本公司則係聚焦於高階元件特性之基地台和射頻基 礎設施設備所需的功率放大器、電壓控制振盪器及其他元件、電力電子 元件 (Power el」 Source: 4991 FY2025 annual report (Chinese original), section starting p.93
• 🇹🇼 TWOWAY（8045） — 「射頻放大器・在有線寬頻服務裡，信號由機房送至客戶端或反向傳回機房都藉由光纖網路與同軸網路來完成。信號在同軸網路上傳輸時強度因銅線衰減的特性會」 Source: 8045 FY2025 annual report (Chinese original), section starting p.71
• 🇺🇸 COMTECH TELECOMMUNICATIONS CORP /DE/（CMTL） — 「We also provide rugged, highly efficient, and reliable high-power amplifiers ("HPAs") for commercial and military applications around the world.」 Source: CMTL FY2025 annual report (10-K/20-F)
• 🇺🇸 GILAT SATELLITE NETWORKS LTD（GILT） — 「The product family includes several SSPA lines, such as EnduroStream, PowerStream , TerraStream, AeroStream , and MicroStream, offered in multiple power levels and configurations.」 Source: GILT FY2025 annual report (10-K/20-F)

Low-Noise Amplifier L2・Upstream

No collected annual-report disclosure for this item yet — the segment may be dominated by non-Taiwan or unlisted players, or not yet covered.

Microwave Passive Components L2・Upstream

• 🇹🇼 ACX（3152） — 「雙工器、」 Source: 3152 FY2025 annual report (Chinese original), section starting p.40
• 🇹🇼 YAO SHENG（3207） — 「10.腔體濾波器」 Source: 3207 FY2025 annual report (Chinese original), section starting p.55
• 🇹🇼 UMT（3491） — 「所產製微波 / 毫米波通訊元件，已取得國際知名系統大廠認證通過」 Source: 3491 FY2025 annual report (Chinese original), section starting p.74
• 🇹🇼 RPTK（6980） — 「本公司提供完善之射頻測試零組件」 Source: 6980 FY2025 annual report (Chinese original), section starting p.47
• 🇹🇼 TMYTEK（7812） — 「本公司主要營業項目高頻毫米波通訊主、被動元件之設計及銷售」 Source: 7812 FY2025 annual report (Chinese original), section starting p.60

ASIC Design Service L2・Upstream

• 🇺🇸 Globalstar, Inc.（GSAT） — 「The ASIC provides a single chip one-way solution that can be embedded in a customer's own solution.」 Source: GSAT FY2025 annual report (10-K/20-F)

Satellite RF Modules L1・Upstream

• 🇹🇼 MTI（2314） — 「直播衛星電視接收設備（LNB）」 Source: 2314 FY2024 annual report (Chinese original), section starting p.66
• 🇹🇼 ACX（3152） — 「射頻前端模組、」 Source: 3152 FY2025 annual report (Chinese original), section starting p.40
• 🇹🇼 AMICCOM（5272） — 「LNB・衛星傳輸到地面的電視訊號」 Source: 5272 FY2025 annual report (Chinese original), section starting p.74
• 🇹🇼 RPTK（6980） — 「包含陣列天線及升降頻模組」 Source: 6980 FY2025 annual report (Chinese original), section starting p.47

Satellite Antennas L1・Core

• 🇹🇼 MTI（2314） — 「開發 Ku band 主動式 Beam forming 高增益陣列天線」 Source: 2314 FY2024 annual report (Chinese original), section starting p.61
• 🇹🇼 RPTK（6980） — 「不論是射頻測試產品或是屬於射頻研發產品的陣列天 線」 Source: 6980 FY2025 annual report (Chinese original), section starting p.47
• 🇹🇼 TMYTEK（7812） — 「毫米波主動式相控陣列天線模組與次系統」 Source: 7812 FY2025 annual report (Chinese original), section starting p.71
• 🇺🇸 COMTECH TELECOMMUNICATIONS CORP /DE/（CMTL） — 「We also supply maritime antenna solutions that are fielded by foreign governments.」 Source: CMTL FY2025 annual report (10-K/20-F)
• 🇺🇸 GILAT SATELLITE NETWORKS LTD（GILT） — 「Amplifiers and RF product lines including SSPA, FCU and defense grade integrated SATCOM solutions such as Deployable Ku/Ka/X-band Earth Terminal, or DKET」 Source: GILT FY2025 annual report (10-K/20-F)

Satellite Ground Equipment L1・Core

• 🇹🇼 MTI（2314） — 「寬頻衛星通訊設備(VSAT)」 Source: 2314 FY2024 annual report (Chinese original), section starting p.66
• 🇹🇼 CyberTAN（3062） — 「也有機上盒、衛星路由器等產品，並」 Source: 3062 FY2025 annual report (Chinese original), section starting p.94
• 🇹🇼 WIN（3105） — 「小型衛星地面站 (VSAT)・pHEMT，GaN HEMT」 Source: 3105 FY2025 annual report (Chinese original), section starting p.85
• 🇹🇼 RPTK（6980） — 「陣列天 線、地面站，皆通過驗證並採用」 Source: 6980 FY2025 annual report (Chinese original), section starting p.47
• 🇺🇸 AST SpaceMobile, Inc.（ASTS） — 「Products revenues primarily consist of the sale of gateway equipment, software and related services to MNOs.」 Source: ASTS FY2025 annual report (10-K/20-F)
• 🇺🇸 COMTECH TELECOMMUNICATIONS CORP /DE/（CMTL） — 「We believe we are a leading provider of satellite earth station modems, solid-state amplifiers ("SSPAs"), frequency converters and traveling wave tube amplifiers ("TWTAs").」 Source: CMTL FY2025 annual report (10-K/20-F)
• 🇺🇸 GILAT SATELLITE NETWORKS LTD（GILT） — 「AeroStream is our transceiver line designed for in-flight satellite connectivity. It is certified to leading commercial aviation and military standards and integrates seamlessly with modems and antenna control units.」 Source: GILT FY2025 annual report (10-K/20-F)
• 🇺🇸 Globalstar, Inc.（GSAT） — 「SPOT Trace products are cost-effective, anti-theft and asset-tracking devices that notify owners via email or text anytime movement is detected, using 100% satellite technology」 Source: GSAT FY2025 annual report (10-K/20-F)
• 🇺🇸 Iridium Communications Inc.（IRDM） — 「Our 9575A handset is the only commercial, mobile handheld satellite phone capable of Type I encryption accredited by the U.S. National Security Agency for Top Secret voice communications.」 Source: IRDM FY2025 annual report (10-K/20-F)
• 🇺🇸 KVH INDUSTRIES INC \DE\（KVHI） — 「In December 2024, we introduced our TracNet Coastal and TracNet Coastal Pro terminals, expanding our extensive multi-channel portfolio of maritime products and services with a standalone 5G/cellular and Wi-Fi system.」 Source: KVHI FY2025 annual report (10-K/20-F)

Satellite Subsystems L1・Core

• 🇯🇵 Mitsubishi Heavy Industries,Ltd.（7011） — 「民間航空機、防衛航空機、飛しょう体、艦艇、特殊機械（魚雷）、特殊車両、宇宙機器等の設計、製造、販売、サービス及び据付け等を行っている」 Source: 7011 FY2026 annual securities report (EDINET, Japanese original), section starting p.6
• 🇯🇵 Kawasaki Heavy Industries,Ltd.（7012） — 「航空機、航空機用エンジン、宇宙関連機器等の製造・販売」 Source: 7012 FY2026 annual securities report (EDINET, Japanese original), section starting p.6
• 🇯🇵 SUBARU CORPORATION（7270） — 「航空機、宇宙関連機器ならびにその部品の製造、販売および修理を行っています」 Source: 7270 FY2026 annual securities report (EDINET, Japanese original), section starting p.5
• 🇺🇸 Redwire Corp（RDW） — 「Redwire has developed a state-of-the-art docking system, the International Berthing and Docking Mechanism ("IBDM"), to support autonomous rendezvous and docking capabilities for spacecraft.」 Source: RDW FY2025 annual report (10-K/20-F)
• 🇺🇸 Rocket Lab Corp（RKLB） — 「Our Optical Systems business develops and builds advanced electro-optical and infrared ("EO/IR") sensor payloads for national security space missions.」 Source: RKLB FY2025 annual report (10-K/20-F)

LEO Satellites L0・Both

• 🇯🇵 seiren co.,ltd.（3569） — 「人工衛星及び人工衛星部品の製造・販売等を行っております」 Source: 3569 FY2026 annual securities report (EDINET, Japanese original), section starting p.6
• 🇯🇵 株式会社アクセルスペースホールディングス（402A） — 「AxelGlobe事業は当社グループが保有・運用する光学地球観測衛星コンステレーションが取得した画像データを販売、又はそれらの画像を加工・分析して情報を抽出し、ソリューションとして顧客にサービス提供しております。」 Source: 402A FY2025 annual securities report (EDINET, Japanese original), section starting p.7
• 🇹🇼 RPTK（6980） — 「本公司已成功研發太空衛 星應用之通訊酬載」 Source: 6980 FY2025 annual report (Chinese original), section starting p.47
• 🇺🇸 AST SpaceMobile, Inc.（ASTS） — 「On December 23, 2025, we launched our BB6 satellite.」 Source: ASTS FY2025 annual report (10-K/20-F)
• 🇺🇸 Redwire Corp（RDW） — 「Redwire also provides the EU-based LEO Hammerhead, a small satellite platform which is capable of supporting payloads of up to 70 kg and targets spacecraft with a mass of less than 200 kg」 Source: RDW FY2025 annual report (10-K/20-F)
• 🇺🇸 Rocket Lab Corp（RKLB） — 「Photon can be configured to operate as the upper stage of Electron (the kick stage) during launch, then with a simple command, transition into an operational spacecraft on orbit」 Source: RKLB FY2025 annual report (10-K/20-F)

Launch Vehicle L0・Core

• 🇯🇵 IHI Corporation（7013） — 「航空エンジン、ロケットシステム・宇宙利用、防衛機器システム等の製造、販売、サービスの提供等を行なっています」 Source: 7013 FY2026 annual securities report (EDINET, Japanese original), section starting p.6
• 🇺🇸 Rocket Lab Corp（RKLB） — 「as is the case for Neutron’s Archimedes engine and avionics design and production activities.」 Source: RKLB FY2025 annual report (10-K/20-F)

Base Station Equipment L0・Downstream

• 🇹🇼 MTI（2314） — 「無線寬頻頭端設備( LTE/5G NRRemote RadioHead)」 Source: 2314 FY2024 annual report (Chinese original), section starting p.66