Eutelsat expects over €10 billion in revenue from services of a European Starlink alternative in 2032–2040
Satellite operator Eutelsat forecasts over €10 billion in revenue from commercial services within the European IRIS2 network in 2032–2040.
This is stated in Eutelsat’s official report.
The first satellites are planned to be launched in 2029, with initial services set to begin in 2030.
Who will build the European IRIS2 network
IRIS2 is being developed by the SpaceRISE consortium, which includes Eutelsat, SES and Hispasat. In December 2024 the European Commission signed a 12-year contract with it to create, deploy and operate the system.
Work on the satellites has already begun. In September 2026 Airbus announced an initial contract with Eutelsat that allowed it and Thales Alenia Space to start development of the first layer of the constellation. Eutelsat is responsible for the low-Earth orbit segment of the network.
According to the European Union Agency for the Space Programme, IRIS2 envisages 348 satellites — 330 in low Earth orbit and 18 in medium Earth orbit. The network is to provide both secure government communications and commercial services.
What Eutelsat’s development means for Ukraine
For Ukraine, European satellite networks are important primarily as a way to reduce dependence on a single communications supplier. However, the current OneWeb and the future IRIS2 are different systems: deploying the new network does not mean an immediate replacement for Starlink for Ukrainian forces.
As AIN previously wrote, Ukraine is already testing OneWeb as a backup communications channel, including on maritime drones. At the same time, wider use is held back by more expensive and bulkier terminals, higher service costs and greater signal latency compared with Starlink.
The head of the Lapka Dzygy charity foundation, Iryna Zhluktenko, told AIN that OneWeb was tested after the crisis with Elon Musk in 2025. In her assessment, the system is suitable for headquarters but less convenient for pilots due to the size of the equipment and higher tariffs.
Read also: Europe wants to reduce dependence on Starlink: what capacity it has to do so
How IRIS2 will affect Eutelsat’s revenues
Eutelsat has included €8.9 billion of future revenue from designing and building IRIS2 in its order backlog. The company plans to recognise these revenues mainly during 2027–2031.
That is more than seven times Eutelsat’s entire revenue for last year, which amounted to €1.24 billion.
The operator’s total order backlog increased from €3.4 billion at the end of June to €12.1 billion.
Separately, Eutelsat forecasts over €10 billion in revenue from commercial services in 2032–2040. The development of satellite internet should help the company offset a decline in its television broadcasting business, writes Reuters.
How much Eutelsat will invest in the satellite network
In 2027–2034 the operator plans to invest €3.39 billion in the shared and commercial infrastructure of IRIS2. In return it will gain access to capacity that is more than twice the current capabilities of its OneWeb network.
OneWeb already counts more than 600 satellites. As part of a separate €1 billion expansion, another 229 satellites are planned to be added.
According to Reuters, Eutelsat’s role is growing against the backdrop of Europe’s efforts to reduce dependence on American technologies.
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https://en.ain.ua/2026/10/30/eutelsat-expects-over-eur10-billion-in-revenue-from-services-of-a-european-starlink-alternative-in-2032-2040/