Finnish Defense Forces to Acquire ICEYE Satellites
Intended to Significantly Enhance the Finnish ISR Capabilities
The Finnish Defense Forces have officially signed a contract for the procurement of SAR satellites built by ICEYE. This procurement decision follows the Letter of Intent signed with the Finnish Ministry of Defense in June and will significantly enhance the Finnish Defense Forces' intelligence and surveillance (ISR) capabilities from space.
"This agreement ... marks a pivotal moment, transitioning from intent to a tangible commitment that will equip Finland with a sovereign, space-based intelligence capability."
Pekka Laurila, ICEYE
The contract was signed in Tampere, Finland, by Brigadier General Engineering Juha-Matti Ylitalo, Deputy Director of the Finnish Defense Forces Logistics Command, and Seppo Aaltonen, VP Nordics & NATO at ICEYE.
The acquisition includes ICEYE's SAR satellites and the technical systems and equipment required to establish a sovereign, space-based surveillance capability for the Finnish Defense Forces. ICEYE's satellites are uniquely capable of providing high-resolution imagery and data in all weather and light conditions, a crucial advantage for maintaining situational awareness.
"This agreement is a testament to the trust and shared vision between ICEYE and the Finnish Defense Forces. It marks a pivotal moment, transitioning from intent to a tangible commitment that will equip Finland with a sovereign, space-based intelligence capability," said Pekka Laurila, Co-founder and CSO at ICEYE. "We are proud to provide the technology that will not only secure Finland's position as a leader in this critical domain but also form the foundation for a long-term partnership that will enhance the collective security of its allies."
The total value of the acquisition is approximately €158 million (≈$186 million). This figure includes the main procurement as well as options to extend the satellites' lifecycle and expand the system in the future.
This initiative strengthens ICEYE's offering to defence customers and advances its goal of becoming the primary provider of critical ISR infrastructure to allied nations. ICEYE owns and operates the world's largest SAR satellite constellation, providing unlimited global access and the highest revisit frequency on the market. ICEYE SAR satellites provide 25 cm ground resolution, enabling accurate object detection and situational awareness in all weather and light conditions. To date, ICEYE has launched 54 SAR satellites into orbit for ICEYE's and its customers' use.