Eutelsat expects to generate more than €10 billion ($11.1 billion) in commercial services revenue between 2032 and 2040 from its role in the IRIS² network.
The company was selected to manage the low Earth orbit segment of the European Union's IRIS² network, which will consist of 330 satellites. Eutelsat plans to invest a total of €3.39 billion in shared and commercial infrastructure for the IRIS² network between 2027 and 2034.
The firm stated it will gain access to more than double the bandwidth currently available to OneWeb. Eutelsat owns OneWeb, which currently operates more than 600 satellites and serves as the primary low Earth orbit alternative to SpaceX's Starlink. A €1 billion expansion for OneWeb is scheduled to add 229 more satellites to its fleet.
The company's total backlog reached €12.1 billion, including €8.9 billion specifically from the design and construction of IRIS². Eutelsat reported a total backlog of €3.4 billion at the end of June. Last year, Eutelsat generated €1.24 billion in revenue.
