Aireon is a company that provides global, space-based air traffic surveillance and data services for the aviation industry. It utilizes a network of ADS-B (Automatic Dependent Surveillance-Broadcast) receivers hosted on the Iridium satellite constellation to track aircraft worldwide. Aireon's primary customers include Air Navigation Service Providers (ANSPs) like NAV CANADA, NATS, ENAV, and airlines, offering improved safety, efficiency, and environmental benefits through optimized airspace management. Key partners include Iridium Communications, Airbus, Boeing and Cirium.
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Aireon expects to expand its data offerings with turbulence spotting, detection of GPS jamming or spoofing, and more robust flight safety and efficiency analytics.
Iridium Communications plans to acquire Aireon, which operates the world’s largest satellite-based aircraft surveillance network.
Iridium plans to use Aireon’s capabilities to offer space-based VHF communications for pilots and air traffic controllers in remote locations.
Aireon’s products available or launching in 2024 include turbulence detection, GPS jamming and spoofing detection, and safety and efficiency analytics.
PJT Partners served as financial adviser to Aireon, and Hogan Lovells served as its legal counsel.
Aireon’s system tracks an average of 190,000 flights per day.
Aireon’s system flies as a payload on the Iridium satellite constellation.
Aireon captures ADS-B data in real time with 100% global coverage, including oceans, polar regions, and remote areas where ground-based radar cannot reach.
Air navigation service providers covering more than 50% of global airspace rely on Aireon data.
The transaction will fold Aireon LLC into Iridium Communications Inc.
Iridium will assume Aireon’s outstanding debt, which is expected to be approximately $155 million at closing.
Iridium Communications Inc. will acquire the remaining 61% of Aireon LLC for approximately $366.7 million and take full ownership of the space-based air traffic surveillance system.
The combined Iridium-Aireon company will deliver global aircraft tracking, pilot-to-controller satellite communications, positioning, navigation and timing integrity services, and aviation data analytics on one platform.
Aireon’s total revenue has grown at a compound annual growth rate of 10% over the past three years.
Aireon’s system is certified by the European Union Aviation Safety Agency.
Iridium will pay the $366.7 million purchase price 50% in cash at closing and 50% one year later through an interest-free seller loan secured by a first-priority lien on Aireon’s equity.
Aireon operates a growing aviation data business that sells real-time and historical data to airlines, airports, manufacturers, governments, and aerospace operators.
Aireon currently provides ADS-B surveillance services using hosted payloads on Iridium Communications’ low Earth orbit constellation.
Aireon has spent more than 10 years developing, deploying, and operating the only global space-based ADS-B system.
Revenues under contract for hosted payloads on Iridium satellites represent less than 2% of Iridium’s sales for the fourth quarter of 2023 and include the aircraft-tracking Aireon service.