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Last updated : 15/09/2026 - 16h53
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Airbus and Thales to Build First IRIS² Satellites, Delivery Expected in 2029

Airbus Defence and Space will design and manufacture the first series of satellites for the European IRIS² constellation, following the signing of an initial contract facilitated by Eutelsat within the SpaceRISE consortium. The first satellites from this low-Earth orbit layer are expected in 2029.


Airbus and Thales to Build First IRIS² Satellites, Delivery Expected in 2029

Initial Contract Signed at Paris Space Summit

Airbus Defence and Space has signed the initial contract for the design and construction of the first series of satellites for the European sovereign IRIS² constellation. Eutelsat, responsible within the SpaceRISE consortium for the low-Earth orbit (LEO) segment, has enabled Airbus and Thales Alenia Space to begin work on this first series.

The signature took place during the International Space Summit, held in Paris on September 9 and 10, 2026. IRIS² (Infrastructure for Resilience, Interconnectivity and Security by Satellite) is the European Union's space programme aimed at providing governments with secure connectivity solutions and offering commercial services.

At Least 66 Satellites Delivered in 2029

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According to IRIS² industrial architecture, Airbus and Thales Alenia Space will supply the first layer of the LEO segment, comprising at least 66 satellites, with delivery scheduled for 2029. This first fleet constitutes the sovereign pillar of the project and will provide military Ka-band capabilities to future European users.

Airbus will adapt its industrial capacities to meet scheduling and performance expectations for this first series of the LEO segment, leveraging investments made in recent years in LEO constellations.

Production Secured at Toulouse Facility

Airbus will manufacture the platforms and integrate the satellites with the payload supplied by Thales Alenia Space. Production will be based at its serial production facility in Toulouse, relocated to Europe, which already manufactures the new batch of OneWeb satellites for Eutelsat.

"It is a privilege to contribute to this strategic programme, which will strengthen Europe's digital sovereignty and strategic autonomy," said Alain Fauré, Director of Space Systems at Airbus Defence and Space.



Sector Aéronautique et Défense Aéronautique / spatiale


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Context

Period
  • Period: S1 2026
Key reported figures
  • Revenue: 33 200 millions d'euros
  • Quarterly revenue: 33 200 millions d'euros
  • Revenue growth: 12 %
  • Net income: 2 243 millions d'euros
  • Free cash flow: -1 043 millions d'euros
  • -8 360 millions d'euros
Risks mentioned
  • Dépréciation du dollar américain pesant sur les revenus des activités avions commerciaux
  • Taux de couverture de change moins favorable limitant la marge des avions commerciaux
  • Consommation de trésorerie liée à la constitution de stocks pour la montée en cadence
Opportunities identified
  • Commandes brutes d'avions commerciaux de 886 appareils et carnet de 9 222 avions
  • Prises de commandes Defence and Space en forte hausse à 9,3 milliards d'euros
  • Montée en cadence A320 vers 70 à 75 avions par mois fin 2027

The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.

Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.

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