Hispasat wins lead role in EU's €15.6 billion IRIS2 satellite network

Hispasat, the satellite operator majority-owned by Spanish defense firm Indra, has secured a significant role as the prime contractor for key components of the European Union's new secure satellite network, IRIS2. The company will be responsible for antennas, control systems, and ground links, with a budget exceeding €1.6 billion ($1.74 billion) allocated for this part of the project.

Beyond its primary role, Hispasat will also spearhead the development of a Low Earth Orbit layer designed for direct-to-device communication and Internet of Things (IoT) connectivity. This segment of the project has a committed budget of up to €600 million, further solidifying Hispasat's integral position within the EU's ambitious space initiative.

The contract award follows extensive negotiations involving the European Commission, the European Space Agency, and SpaceRISE, a consortium comprising Eutelsat, SES, and Hispasat. The IRIS2 constellation is slated to become operational in 2030, with a total projected investment of €15.6 billion. Notably, €4 billion of this investment comes from the SpaceRISE consortium itself.

This significant contract for Hispasat is a boon for its parent company, Indra, amidst a surge in European military spending. EU defense outlays are projected to climb to €454 billion in 2026, an increase from €418 billion in the previous year, highlighting the growing strategic importance of such projects.