Europe Signs €10.6 Billion IRIS² Satellite Deal for 300 Satellites on December 16, 2024

Dec 16, 2024, 11:03 AM

On December 16, 2024, Europe officially launched its ambitious IRIS² satellite program by signing a €10.6 billion contract aimed at establishing a new satellite network to compete with Elon Musk's Starlink. The IRIS² initiative will consist of approximately 300 satellites designed to provide secure, resilient, and high-speed communications for European governments and companies. The signing ceremony, which took place at 11:00 CET, was streamed live by the European Space Agency (ESA) and involved a public-private partnership with the consortium SpaceRise and the European Commission. This marks Europe's most significant space program in a decade, reflecting a strategic move to enhance its capabilities in satellite communications.