Satellite and Space Projects Newsletter December 2024

Key topics included how to define a "constellation",  how to manage altitude separation, the best approach to collision avoidance; liability allocation and risk management in cases of insolvency. Along with other industry representatives, Fieldfisher contributed to these discussions, aiming to achieve an effective balance between appropriate regulation, protection of the space environment and creating a framework for innovative space business. Many across the sector will be closely following the UKSA new regulatory proposals.

SpaceRISE awarded IRIS² satellite constellation contract: The European Commission has awarded a contract to build and operate the IRIS² Satellite Constellation to the SpaceRISE consortium. IRIS² (Infrastructure for Resilience, Interconnectivity and Security by Satellite) is the EU's secure connectivity satellite system that will consist of 290 Medium Earth Orbit and Low Earth Orbit satellites. The system will provide government and commercial services and provide Europe with a "secure and competitive communications backbone".

The SpaceRISE Consortium is made up of three European satellite network operators: SES, Eutelsat, and Hispasat together with a team of subcontractors including Thales Alenia Space, OHB, Airbus Defence and Space, Telespazio, Deutsche Telekom, Orange, Hisdesat and Thales SIX.

Apple invests $1.5 billion in Globalstar for new constellation:  Apple will commit up to $1.5 billion to satellite operator Globalstar, with up to $1.1 billion funding a new constellation for expanded satellite services. The investment is a prepayment for expanded satellite services on the new network. This commitment will support the development and launch of a new mobile satellite services constellation; and expand the Globalstar ground infrastructure.  Globalstar will then allocate 85% of its network capacity for Apple services.

Airbus considers Defence and Space division consolidation: Airbus chief executive, Guillaume Faury, has confirmed that Airbus is considering options for a merger of its space business affecting specific lines of business in the Airbus Defence and Space division rather than the entirety of the space unit. Airbus has suffered a decline in commercial GEO communications satellite orders and as a result, took a charge of €900 million in June of this year on its Space Systems business. It also announced that, by mid-2026, it would cut up to 2,500 jobs in its Defence and Space division.

New UK defence satellite order for SSTL: Surrey Satellite Technology Ltd (SSTL) have signed a contract with the UK Ministry of Defence worth £40 million to build the Juno satellite. Juno will be designed and built in the UK and is expected to launch in 2027. The satellite will support military operations and strengthen the UK's intelligence, surveillance, and reconnaissance (ISR) capabilities by capturing daytime images of the Earth's surface.

Firefly raises $175 million: Firefly Aerospace has announced that it has raised $175 million in new capital in an oversubscribed Series D funding round, led by new investor RPM Venture. Existing investors also participated and new backers included GiantLeap Capital and Human Element. Firefly is now valued at more than $2 billion, up from the reported $1.5 billion after their Series C round closed in November 2023. The funding will help boost production of Firefly's multi-mission orbital vehicle and its small lift rocket, and accelerate the hardware qualification of its medium launch vehicle.

Ariane 6 launch delayed again: The launch of the Ariane 6 vehicle has been further delayed. Initially planned for December 2024, the launch is now expected to take place in mid-February 2025. This marks another setback for the rocket, which was originally scheduled to debut in 2020. Despite these delays, Arianespace remains optimistic about conducting six launches in 2025. The Ariane 6 is designed to halve launch costs and increase annual capacity to eleven missions.

Spire Global sells commercial maritime business for $241 million: Spire Global has sold its commercial maritime business to Kpler, a Belgian analytics provider, for $241 million. This deal includes maritime customer contracts and exclusive rights to sell ship-tracking data from Spire's satellites. Spire will retain its satellites and technology, using the proceeds to pay off $100 million in debt and invest in other data markets and hosted payload services. The transaction, expected to complete early in 2025, will also see Spire continuing to serve its current maritime customers in the U.S. government.