European companies form space jam to secure comms sovereignty with satellites
Anticipated costs of delivering this project are estimated to be at least €6 billion , with the EU contributing the agreed €2.4 billion, and the remainder expected to be covered by private sector investment.
Implementation of IRIS² is likely to follow an incremental approach, with the European Commission saying it hoped the first satellites would be in place to deliver initial services in 2024, with full operational capability by 2027.as a historic event, saying:"IRIS² establishes space as a vector of our European autonomy, a vector of connectivity and a vector of resilience."
However, he also said that while building IRIS² would rely on the"know-how of the major European space industries," it was expected that 30 percent of the work would be carried out by startups, a goal that may be thwarted with the consortium made up of so many large companies. Telecoms industry analyst Paolo Pescatore at PP Foresight told us that it"makes far more strategic and commercial sense to work together rather than have individual small groups."
This, he added, would be good news for consumers as well as businesses to ensure they are able to receive connectivity in hard-to-reach areas.The European Commission declined to comment on the consortium and its bid. ®
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