Against a backdrop of growing interest and take up in Low Earth Orbit (LEO) and hybrid multi-orbit satcom solutions, the French government plans to more than double its stake in Paris-headquartered Eutelsat to nearly 30%, anchoring a wider contemplated capital increase of €1.35 billion that involves Bharti Space Limited and other reference shareholders.
Under the commitments announced on 18 June, the French state via the Agence des Participations de l’Etat would hold a stake of 29.99% of the capital and voting rights, whilst Bharti Space, shipping experts CMA CGM and French investment vehicle Le Fonds Stratégique de Participations (FSP) would respectively hold 18.7%, 7.81% and 5.22% of the share capital and voting rights…” says Eutelsat in a statement. The capital increase has been unanimously approved by Eutelsat board members.
A broadband LEO satellite operator, and presently the only GEO-LEO satellite operator, Eutelsat has an important role to play in the verticals it serves.
In aviation, Eutelsat has long supported inflight connectivity with its geostationary (GEO) satellites via distribution partners, and continues to do so. Early this year, its Eutelsat OneWeb Ku-band LEO service started powering both LEO-focused and multi-orbit LEO/GEO IFC in business aviation and commercial aviation, respectively. Alaska Airlines, Air Canada, American Airlines, Delta Air Lines, and Germany’s Discover Airlines are just a handful of the carriers that will use Eutelsat OneWeb LEO service to help power multi-orbit IFC on a portion of their fleets.
In defense, Eutelsat recently inked a landmark 10-year, €1 billion framework agreement with France’s Ministry of the Armed Forces that will strengthen the integration of civilian and military assets.
The satellite operator is also playing a key role in the European Union’s IRIS² program, the public-private partnership which aims to build a multi-orbit constellation to deliver secure communication services to the EU and its member states.
Highlighting the importance of LEO, Eutelsat says in a statement that: “While the global satellite connectivity market is expected to increase by 12% per annum between 2025 and 2029, the global LEO B2B connectivity market, valued at over $2.1 billion in 2025, is expected to grow at a 28% CAGR through 2029 and multiply its current size fivefold over the next eight years, offering significant short to long-term growth potential.
“The LEO revolution, both technological and industrial, has brought satellite communications into a new era, delivering affordable and ubiquitous connectivity at scale, with unprecedented customer experience for satcoms. This unlocks a huge market potential, from bridging the digital divide across all customer segments on a global basis, to unlocking numerous new use cases, such as mobility over land, sea and air.”
Jean-François Fallacher, CEO of Eutelsat Group, adds: “Eutelsat enters a new chapter, centered on the deployment of LEO, a major innovative and technological revolution for the Satellite industry. Thanks to its differentiated GEO-LEO positioning and global coverage, Eutelsat is ready to become a central player in the development of the European sovereign space of tomorrow.
“I welcome the contemplated capital increase which will give Eutelsat the requisite financing to implement its strategic roadmap. I am grateful for the support of the French state and the ongoing commitment of our other anchor shareholders – Bharti, CMA CGM and FSP and thank them for their confidence.”
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Featured image credited to istock.com/Eoneren Note: All the world map textures are originally from NASA.
