Planet Labs Secures Record $230 Million Satellite Deal in Asia-Pacific

Planet Labs, a satellite imagery firm, signed a $230 million agreement to build satellites for an unnamed customer in the Asia-Pacific region. This marks their largest contract and a shift towards dedicated satellite services. The satellites are set for delivery in 2026, offering high-resolution imaging capabilities.

In a significant strategic move, satellite imagery firm Planet Labs has announced a landmark $230 million contract to construct satellites for an undisclosed client in the Asia-Pacific region, marking the company's largest agreement in its history.

Set to be delivered by 2026, this venture signifies Planet Labs' expansion into the dedicated satellite services sector, having primarily focused on supplying imagery and data via its own extensive fleet of approximately 200 satellites. CEO Will Marshall highlighted the increasing interest from foreign governments seeking enhanced control over satellite data for security and intelligence purposes as a critical driving factor behind this shift.

The contract involves the development of high-resolution Pelican satellites, which Planet Labs will operate. However, their customer will have priority usage rights, enabling direct satellite tasking over areas of interest in Asia. Planet Labs retains the option to sell collected data to other clients, broadening their market reach.

(With inputs from agencies.)