ICEYE, IHI sign agreement to build Earth observation satellites
IHI has placed an initial order for four satellites and associated image acquisition system, with the option to procure a further 20 satellites at a later stage. The first satellites are expected to begin phased commissioning and data delivery from around April 2026.
Finnish satellite company ICEYE and Japan’s IHI Corporation have signed a procurement contract to build an Earth observation satellite constellation for security, civilian and commercial use.
Under the terms of the contract, IHI has placed an initial order for four satellites and associated image acquisition system, with the option to procure a further 20 satellites at a later stage. The first satellites are expected to begin phased commissioning and data delivery from around April 2026, according to a media release.
ICEYE’s satellites use radar to produce detailed images regardless of clouds or darkness, ensuring uninterrupted monitoring for defense, disaster response and environmental management.
“ICEYE has built a trusted partnership with Japan since 2018, grounded in shared values and innovation. This agreement with IHI marks a new milestone in strengthening our partnership and enhancing shared security and resilience,” said Rafal Modrzewski, co-founder and CEO of ICEYE. “By combining IHI’s engineering excellence with ICEYE’s SAR technology, we’re enabling sovereign access to critical Earth observation data and advancing Japan’s leadership in space-based intelligence.”
“In collaboration with ICEYE, we are taking on the challenge of creating new value through cutting-edge satellite technology. Through the development of an Earth observation satellite constellation, we aim to address not only national and economic security but also a wide range of societal challenges,” said Hiroshi Ide, President and CEO of IHI. “By harnessing the full strength of the IHI Group’s manufacturing capabilities, we will lead the construction of essential infrastructure that will be indispensable for the society of the future.”
Two of the initial four satellites are planned to be assembled and tested in Japan, with preparations already underway between IHI and ICEYE. Subject to successful demonstration results, IHI plans to exercise options for the remaining 20 satellites in phases from fiscal year 2026, targeting completion of the 24-satellite constellation by fiscal year 2029.
