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Iceye and IHI Corporation have signed a procurement contract to build a constellation of Earth observation satellites for civil, commercial, and security use.
This cooperation aims to combine Iceye's SAR technology and rapid satellite development capabilities with IHI's engineering tradition to enhance Japan's space and manufacturing capabilities.
The partnership combines ICEYE's rapid SAR deployment model with IHI's aerospace engineering heritage.
ICEYE's SAR satellites can capture high-resolution imagery in all weather conditions and during both day and night.
The contract follows a memorandum of understanding (MoU) signed by Iceye and IHI in May 2025 to jointly develop the constellation and establish domestic production facilities in Japan.
Iceye has doubled in value over the last year due to a series of major commercial successes.
Seraphim Space Investment Trust was involved in major funding rounds for companies such as Iceye, D-Orbit, Xona Space Systems, Skylo, Pixxel, and AST SpaceMobile over the 12 months to the end of June.
Iceye and HawkEye 360 are delivering consistent quarter-on-quarter profits, reflecting operational maturity and strategic relevance.
Seraphim Space Investment Trust has changed the valuation methodology of Iceye and HawkEye 360 to a comparable multiples approach using EV/revenue multiples.
Iceye is building a satellite for Portugal's component of the Atlantic Constellation.
IHI Corporation has signed a procurement contract with Iceye to build four satellites and up to 20 additional satellites in a synthetic aperture radar (SAR) constellation.
Iceye and Space42 assembled three SAR satellites in the United Arab Emirates under a similar agreement earlier this year.
These satellites are the first integrated in the UAE under a deal that Yahsat and Bayanat reached with Iceye in 2023.
The Finnish Defence Force made a recent purchase from Iceye, exemplifying countries procuring their own defense assets.
Space42 has shipped three synthetic aperture radar (SAR) satellites, which are its first satellites to go through assembly, integration, and testing (AIT) within the United Arab Emirates under a partnership with Iceye.
Iceye previously built two satellites for Space42 that are already in orbit.
Iceye sold over 15 satellites to eight different countries in the past six months.
Iceye operates a constellation of 44 satellites and has partnerships aimed at establishing local manufacturing and production facilities.
ICEYE has introduced the ISR Cell, an end-to-end containerized unit for defense forces to access space-based tactical Intelligence, Surveillance, and Reconnaissance.
The ICEYE ISR Cells are already in production.