Eutelsat Secures Lead Role in EU Satellite Network
The telecommunications company will help build a 330-satellite constellation to provide secure European internet.
Updated on Oct. 29, 2026 in Telecommunications
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Eutelsat has joined the European Union's IRIS² satellite network project, anchoring its future growth in a massive new public-private infrastructure deal. This partnership is expected to drive €8.9 billion in contract backlog for the company as it shifts focus toward satellite internet.
Why it matters
The European Union is developing this sovereign network to reduce dependence on non-European satellite technology. For Eutelsat, the project helps offset ongoing revenue declines in its traditional video broadcasting business.
The IRIS² network will deploy 330 satellites, with Eutelsat committing a €3.39 billion investment toward shared and commercial infrastructure between 2027 and 2034. In exchange, the company secures access to over double its current OneWeb bandwidth.
The players
Eutelsat
A Paris-based satellite operator that provides global telecommunications services and operates the OneWeb low-earth orbit constellation.
European Union
A political and economic union of 27 member states that is the primary architect and sponsor of the IRIS² satellite project.
The details
Eutelsat is leveraging its expertise from the OneWeb LEO satellite network, which currently operates more than 600 satellites, to support the new EU initiative. The company reported a 2.1 percent like-for-like revenue decline in the first quarter to €278.3 million, highlighting the urgency of this pivot.
Timeline
Total revenue backlog reached €3.4 billion as of the end of June 2026.
Revenue fell 2.1 percent to €278.3 million for the three months ending September 2026.
The IRIS² revenue recognition period is scheduled to occur from 2027 through 2031.
The first IRIS² satellites are scheduled for launch in 2029.
Commercial services revenue is projected to exceed €10 billion between 2032 and 2040.
The Tech Race
The Eutelsat deal marks a critical expansion for the European Union's IRIS² satellite project, which aims to establish a sovereign European connectivity infrastructure. This shifts the competitive landscape by reducing reliance on U.S.-based satellite technology and strengthening regional digital autonomy.
The investment ensures that enterprise and government clients will eventually gain access to more robust, localized satellite internet services. While current retail pricing is not affected, the infrastructure buildup aims to enhance long-term network security and bandwidth capacity for users.
The takeaway
Eutelsat is betting its long-term financial health on the growth of low-earth orbit satellite services to replace fading video broadcasting revenue. Investors and industry observers should watch for the 2029 satellite launch milestones to gauge the project's operational success.
Further reading
For broader insights into how industry trends are shaping connectivity, visit Telecommunications.
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