30th May 2019 09:08
LONDON (Alliance News) - Inmarsat PLC said Thursday it has selected Airbus SE to design and build three next-generation Global Xpress satellites.
The cost of the satellites has not been disclosed, although Inmarsat did say the level of capital expenditure for the new satellite programme aligns with long-term planning so it has not changed its overall capital expenditure guidance.
The three GX satellites, GX7, GX8, and GX9, will be designed, manufactured, and built buy Airbus and will be the first of Inmarsat's next generation satellites. GX7 is set to launch in the first half of 2023.
The Ka-band satellites - meaning satellites that use a higher range of the electromagnetic spectrum - are intended to enhance Inmarsat's "global mobile broadband coverage with a transformation in network capacity and service capability".
The new satellites will have on-board processing and active antennas and will be able adjust coverage, capacity, and frequency. The satellites can also adapt to Inmarsat's requirements and provide high throughput broadband connectivity. The new technology is compatible with existing terminals.
Inmarsat said it is on track for annual GX revenue at a run rate of USD500 million by the end of 2020.
Inmarsat Chief Executive Rupert Pearce said: "We are delighted to be partnering with Airbus who have more than risen to the significant strategic and technological challenges we set them. This announcement signals the start of a new long-term strategic partnership."
"GX has rapidly become a very significant and sustained revenue growth contributor for Inmarsat. More importantly, it embodies our strategic, long-term approach to network augmentation as we continue to meet and exceed customer requirements."
Shares in Inmarsat were up marginally at 547.80 pence on Thursday morning.