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Last updated : 08/09/2026 - 11h24
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IRIS²: Eutelsat Confirmed as LEO Segment Leader with 330 Satellites

Eutelsat announced the completion of the first milestone review of the European sovereign connectivity program IRIS², transitioning the project from its definition phase to its industrial execution phase. The group has clarified the scope of its commitment, notably the number of satellites it will design and operate for the low-earth orbit segment.


IRIS²: Eutelsat Confirmed as LEO Segment Leader with 330 Satellites

Transition to IRIS² Industrial Execution Phase

Eutelsat indicated, in a statement dated August 7, 2026, that the first milestone review ("First Rendez-Vous") of the IRIS² program has been completed, paving the way for full industrial implementation of the European multi-orbit sovereign connectivity infrastructure. The group is confirmed as leader of the low-earth orbit (LEO) segment.

According to the statement, this milestone marks the transition from program definition to its execution phase, with immediate start of manufacturing, system integration and infrastructure deployment. The main suppliers cited are Airbus Defence and Space, Thales Alenia Space and Aerospacelab.

The described architecture combines an inclined orbit, beamforming antennas and 5G NTN technology, as well as inter-satellite optical links designed to strengthen resilience and reduce dependence on terrestrial infrastructure.

Constellation of 330 Satellites and Deployment Schedule

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The group states that it will design, deploy and operate the IRIS² LEO constellation, composed of 264 dual-band Mil-Ka/Ku satellites as well as 66 Mil-Ka band satellites. Eutelsat will draw on its experience from OneWeb operations.

According to the disclosed schedule, the first Ka-band satellites will be launched from 2029 and the commercial LEO constellation in Ku-band will be fully operational by mid-2032. The group also plans to extend the OneWeb constellation until 2034 by deploying 229 additional satellites, in addition to the 440 GEN1 satellites already ordered.

Eutelsat clarifies that the group's capital expenditure (capex) plan remains unchanged until fiscal year 2029 and that the project is consistent with its financial framework. Jean-François Fallacher, Chief Executive Officer, described it as "a decisive moment for Eutelsat and for Europe's space ambitions", with the group moving "from the planning phase to the execution phase".



Sector Télécommunications Satellite et connectivité


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Context

Period
  • Period: FY2025
Key reported figures
  • Revenue: 1 244 millions d'euros
  • Revenue growth: 2,5 %
  • Net income: -1 082 millions d'euros
Risks mentioned
  • Baisse du chiffre d'affaires Vidéo (-13,1 %) sous l'effet des sanctions contre les chaînes russes
  • Résiliation des accords de capacité sur les satellites Express AT1 et AT2
  • Recul structurel du segment GEO devant se poursuivre en 2026-27
Opportunities identified
  • Croissance de l'activité LEO de 69,5 % à 297 M€, représentant 25 % du chiffre d'affaires total
  • Compensation possible de 504 millions de dollars US liée à la libération de la bande C aux États-Unis
  • Contrat subséquent CENTAURE de 350 M€ au titre de l'accord-cadre NEXUS avec les Forces armées françaises

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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