Earth observation data provider and satellite manufacturer ICEYE has secured a €158 million contract from the Finnish Defence Forces to supply an undisclosed number of Synthetic Aperture Radar (SAR) satellites.
In June, ICEYE and the Finnish Ministry of Defence signed a Letter of Intent to enable the country’s Defence Forces to acquire ICEYE SAR satellites. On 8 September, the company announced that the agreement had advanced to a firm purchase covering the satellites, as well as the systems and equipment needed for the Finnish Defence Forces to establish its own space-based surveillance capability.
“This authorisation will set in motion the building of an independent space surveillance capability for Finland’s defence,” said Minister of Defence Antti Häkkänen. “It is a historic first step for the development of our defence capability, and it also has wider importance for industry and technology.”
The total value of the acquisition is approximately €158 million. According to an 8 September ICEYE press release, the figure also includes options to extend the life of the satellites and to expand the system in the future. While the number of satellites to be procured by the Finnish Defence Forces has not been disclosed, a similar agreement signed with the Polish Armed Forces in May 2025 carried a total value of approximately €200 million for the acquisition of three ICEYE SAR satellites, with an option for three more within 12 months.
While neither the ICEYE nor the Finnish Ministry of Defence announcements include a proposed timeline, the latter did reveal that an initial capability would be deployed “swiftly” before the country moved to develop it further “later on.”
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