ICEYE and IHI sign agreement to build an Earth observation satellite constellation

Helsinki, Finland – October 16th, 2025 – ICEYE, the global leader in Synthetic Aperture Radar (SAR) satellite operations for Earth observation, and IHI Corporation (“IHI”), the Japanese leader in aerospace and defense industries, 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.

The agreement marks a significant step in the partnership between ICEYE and IHI. ICEYE’s satellites use radar to produce detailed images regardless of clouds or darkness, ensuring uninterrupted monitoring for defense, disaster response, and environmental management.

Rafal Modrzewski, Co-founder and CEO of ICEYE, said: “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. 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.”

Hiroshi Ide, President and CEO of IHI, commented: “At IHI, we are committed to contributing to the realization of a safe and secure society in a rapidly changing world. This initiative represents an investment in IHI's future. 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. 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 under way 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.

The contract follows the memorandum of understanding signed between ICEYE and IHI in May 2025 to jointly develop the constellation and establish domestic production facilities in Japan. This cooperation builds on the companies’ shared vision to combine ICEYE’s SAR technology and rapid satellite deployment capabilities with IHI’s engineering heritage to advance Japan’s manufacturing and space capabilities.

Photo: Rafal Modrzewski, Co-founder and Chief Executive Officer, ICEYE, and Hiroshi Ide, President and Chief Executive Officer, IHI Corporation.