Eutelsat Joins European Union IRIS² Satellite Network
The company invests €3.39 billion into the EU-led network to secure long-term bandwidth as legacy video revenues decline.
Updated on Oct. 29, 2026 in Telecommunications
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Eutelsat has secured a lead role in the development of the European Union's IRIS² satellite network, a project aiming to deploy 330 satellites. The company will invest €3.39 billion into the infrastructure to secure expanded bandwidth access as it pivots away from its legacy video broadcasting business.
Why it matters
The European Union is developing IRIS² to reduce its dependency on U.S.-based satellite providers, while Eutelsat is leveraging the contract to offset declining revenues in its traditional video services.
Eutelsat reported a total revenue backlog of €12.1 billion, with the IRIS² contract accounting for €8.9 billion of that total. In exchange for a €3.39 billion infrastructure investment, the company will gain access to bandwidth exceeding double the capacity of its current 600-plus satellite OneWeb LEO network.
The players
Eutelsat
A Paris-based satellite operator that manages a hybrid fleet of geostationary and OneWeb low Earth orbit satellites.
European Union
A political and economic union of member states that is funding IRIS² to establish an independent sovereign satellite infrastructure.
The details
The IRIS² network uses a Low Earth Orbit (LEO) architecture — a constellation of satellites positioned closer to the planet than traditional geostationary satellites to reduce latency. Eutelsat plans to integrate this into its existing infrastructure by sharing commercial capacity, effectively diversifying its satellite internet capabilities to replace lost video broadcasting revenue. The hardware and network management software must be built to meet EU sovereignty requirements, necessitating a departure from existing US-sourced network components.
Timeline
Revenue fell 2.1 percent to €278.3 million in the three months ending September 2026.
The IRIS² revenue recognition period spans from 2027 to 2031.
The first IRIS² satellites are scheduled for launch in 2029.
Initial IRIS² network services are expected to start in 2030.
Expected commercial services revenue from IRIS² is projected between 2032 and 2040.
The Tech Race
The IRIS² project functions as the European response to private-sector satellite constellations dominated by U.S. technology providers. By securing a lead role, Eutelsat positions itself to maintain a foothold in the global LEO market despite a current decline in its legacy video revenue streams.
The project intends to provide sovereign internet services to European users starting in 2030. While commercial availability remains years away, the partnership signals a transition toward regional satellite infrastructure that could eventually offer competitive alternatives to existing global internet constellations.
The takeaway
Eutelsat is attempting to bridge its financial gap by betting heavily on European state-backed infrastructure. Watch for the 2029 satellite launch date as the critical indicator for whether the network can deliver commercial services by 2030.
Further reading
For broader trends in satellite infrastructure, visit Telecommunications.
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