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Aerospacelab wins €2.4 billion deal to build majority of IRIS² satellites

Published by Global Banking & Finance Review

Posted on September 10, 2026

1 min read

· Last updated: September 10, 2026

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Aerospacelab Secures €2.4 Billion Contract for Majority of IRIS² Satellites

Major Contract Details and Implications

Overview of the Agreement

Sept 10 (Reuters) - Belgium's Aerospacelab said on Thursday it had won a €2.4 billion ($2.8 billion) contract to build 264 satellites for the EU's IRIS² network, which is due to offer secure communications for governments, security agencies and commercial users by 2030.

Scope of Satellite Production

Aerospacelab said the deal gives it responsibility for producing 76% of the planned 348 satellites, making it the single largest disclosed manufacturing allocation for IRIS² and offering a clearer picture of how work is being divided.

Role within the SpaceRISE Consortium

The company said it would design, manufacture and deliver fully integrated low-Earth-orbit satellites through the Eutelsat-led SpaceRISE consortium, which is developing and operating the network under a concession deal with the EU.

Financial Details

($1 = 0.8603 euros) 

Reporting Credits

(Reporting by Maria Rugamer; editing by izabela Niemiec)

Key Takeaways

  • Aerospacelab now holds the largest disclosed manufacturing share in IRIS², responsible for producing 264 of the 348 planned satellites under a €2.4 billion deal.
  • The IRIS² programme has shifted from planning to full‑scale deployment following the EU‑SpaceRISE implementation agreement signed on August 7, 2026, with first launches expected in 2029 and full services by 2030. The constellation has been expanded to 348 satellites—330 in LEO and 18 in MEO—with an additional 66 LEO satellites boosting governmental secure capacity by 60 % in the EU and 54 % globally.
  • IRIS² is part of Europe’s broader sovereign connectivity push: a multi‑orbital public‑private initiative backed by the EU, ESA, EUSPA and SpaceRISE (Eutelsat, Hispasat, SES), with ESA contributing €550 million and serving a technical oversight role.

Frequently Asked Questions

What is the value of the Aerospacelab contract for IRIS² satellites?
Aerospacelab has won a €2.4 billion contract to build 264 satellites for the EU's IRIS² network.
How many satellites will Aerospacelab produce for the IRIS² program?
Aerospacelab will produce 264 out of the planned 348 satellites, representing 76% of the total.
What is the purpose of the EU's IRIS² satellite network?
The IRIS² network is designed to provide secure communications for governments, security agencies, and commercial users by 2030.
Which consortium is developing and operating the IRIS² network?
The IRIS² network is being developed and operated by the Eutelsat-led SpaceRISE consortium under a concession deal with the EU.

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