# If SES S.A. moves, who benefits? How far does the value-chain ripple reach?
Canonical: https://valuechain.wiki/ses · Facet: ripple · Updated: 2026-07-12T04:10:27.154+00:00 · Source: ValueChain.wiki (cited money-flow graph)

**Citable summary**: Per the valuechain.wiki graph, SES S.A. is directly linked to 4 companies (4 supply, 0 revenue relationships) and reaches 12 companies within two hops; the links are backed by 11 dated sources, 2 of them primary filings (as of 2026-07-12).

SES S.A. operates across Multi-orbit GEO+MEO operator (Intelsat combined). After +141.5% in 2025, it gave back -28.2% in 2026. The supply side (avg -7.7%) leads the stock (-28.2%), with spending rippling down to suppliers first. Among connected nodes the furthest ahead is SpaceX (+0.7%) and the furthest behind is Gilat Satellite Networks (-21.8%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. SES is part of the EU IRIS² consortium (SpaceRISE) and Luxembourg's GovSat partner.

## Supply chain (benefiting)
- T1 Thales (https://valuechain.wiki/thales.md)
- T2 Airbus (https://valuechain.wiki/airbus.md)
- T3 GE Aerospace (https://valuechain.wiki/ge-aerospace.md)
- T3 RTX (https://valuechain.wiki/rtx.md)
- T3 Voyager Technologies (https://valuechain.wiki/voyager-technologies.md)
- T3 Leonardo S.p.A. (https://valuechain.wiki/leonardo.md)
- T3 Korea Aerospace Industries (https://valuechain.wiki/kai.md)
- T3 ArianeGroup (https://valuechain.wiki/arianegroup.md)
- T3 Toray Industries (https://valuechain.wiki/toray-industries.md)
- T3 Parker-Hannifin Corporation (https://valuechain.wiki/parker-hannifin.md)
- T3 TransDigm Group Incorporated (https://valuechain.wiki/transdigm-group.md)
- T3 Honeywell Aerospace Inc. (https://valuechain.wiki/honeywell-aerospace.md)
- T1 Boeing (https://valuechain.wiki/boeing.md)
- T2 Korean Airlines (https://valuechain.wiki/korean-airlines.md)
- T2 Moog (https://valuechain.wiki/moog.md)
- T2 Mitsubishi Heavy Industries (https://valuechain.wiki/mitsubishi-heavy-industries.md)
- T2 AMETEK, Inc. (https://valuechain.wiki/ametek.md)
- T2 PPG Industries (https://valuechain.wiki/ppg-industries.md)
- T3 Mitsubishi Chemical Holdings (https://valuechain.wiki/mitsubishi-chemical-holdings.md)
- T1 SpaceX (https://valuechain.wiki/spacex.md)
- T2 STMicroelectronics (https://valuechain.wiki/stmicroelectronics.md)
- T3 Wolfspeed (https://valuechain.wiki/wolfspeed.md)
- T3 Synopsys (https://valuechain.wiki/synopsys.md)
- T3 Cadence Design Systems (https://valuechain.wiki/cadence.md)
- T3 Cohu (https://valuechain.wiki/cohu.md)
- T2 EchoStar Corporation (https://valuechain.wiki/echostar.md)
- T3 T-Mobile US, Inc. (https://valuechain.wiki/t-mobile-us.md)
- T3 AT&T Inc. (https://valuechain.wiki/at-t.md)
- T1 Gilat Satellite Networks (https://valuechain.wiki/gilat.md)

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Full node: https://valuechain.wiki/ses.md · JSON: https://valuechain.wiki/ses.json