IHI Corporation (“IHI”) and ICEYE, the global leader in Synthetic Aperture Radar (SAR) satellites, have signed a procurement contract to build an Earth observation satellite constellation for security, civilian and commercial use.

The contract between IHI and ICEYE follows a memorandum of understanding (MOU) the two companies signed in May 2025 to jointly develop the SAR satellite constellation and to establish production facility in Japan.

The contract is the most important step yet towards the fulfilment of IHI’s plan for a satellite constellation system that will combine multiple different sensors to provide images and information about maritime and other movements on the Earth’s surface.

ICEYE’s SAR satellites use radar to produce high-resolution images, regardless of clouds or other atmospheric interference. Under the terms of the contract, IHI has placed an initial order for four satellites and the associated image acquisition system, with the option to procure a further 20 satellites at a later stage. The first satellites are expected to begin delivering data from fiscal year 2026.

The first satellites from ICEYE will be used to explore and develop demand for high-resolution SAR satellite data and to develop use cases in Japan and overseas. While Japan will have priority access to the imaging produced, IHI intends to make its data available to support the defense needs of allies and like-minded countries such as the UK and Australia.

Satellites will be assembled and tested in Japan when ready and preparations with ICEYE are already under way. Subject to successful results, IHI plans to exercise options for the remaining 20 satellites, targeting completion of the 24-satellite constellation by fiscal year 2029.

Guided by its management philosophy, “Contributing to the development of society through technology”, IHI will leverage its engineering capabilities, and specifically its manufacturing technology, to lead the development of this constellation. The completed system is expected to include five other types of sensors – Optical, VHF Data Exchange System (VDES, the next generation of AIS (Automatic Identification System) for maritime vessels), radio frequency (RF), infrared (IR) and Hyperspectral imaging. This will provide the target detection and tracking capabilities required for defense operations on land or at sea.

More broadly, IHI Group will collect and analyze information across multiple domains, including land, sea, air and space, to help realize a safer, more secure society.

Hiroshi Ide, President & CEO of IHI, commented: “At IHI, we are committed to contributing to the realization of a safe and secure society in a rapidly changing world. This initiative represents an investment in IHI's future. In collaboration with ICEYE, we are taking on the challenge of creating new value through cutting-edge satellite technology. Through the development of an Earth observation satellite constellation, we aim to address not only national and economic security but also a wide range of societal challenges. By harnessing the full strength of the IHI Group's manufacturing capabilities, we will lead the construction of essential infrastructure that will be indispensable for the society of the future. ”

Rafal Modrzewski, Co-founder & CEO of ICEYE, said: “ICEYE has built a trusted partnership with Japan since 2018, grounded in shared values and innovation. This agreement with IHI marks a new milestone in strengthening our partnership and enhancing shared security and resilience. By combining IHI’s engineering excellence with ICEYE’s SAR technology, we’re enabling sovereign access to critical Earth observation data and advancing Japan’s leadership in space-based intelligence.”

About IHI
IHI Corporation traces its origins to Japan’s first modern shipbuilding facility, established in 1853, and has since grown into one of the country’s leading manufacturers. It has expanded its business ever since, in recent years providing wide-ranging solutions in the four main areas of Resource, Energy and Environment; Social Infrastructure; Industrial Systems and General-purpose Machinery; and Aero Engine, Space and Defense. In the field of satellites, IHI AEROSPACE CO., LTD. provides propulsion systems and devices, while Meisei Electric provides sensors for space companies and organizations such as JAXA. IHI has also worked recently to solve its customers’ problems by engaging in business using satellite information and data.

About ICEYE
ICEYE delivers unparalleled persistent monitoring capabilities to detect and respond to changes in any location on Earth, faster and more accurately than ever before.
Owning the world's largest synthetic aperture radar (SAR) satellite constellation, ICEYE provides objective, near real-time insights, ensuring that customers have unmatched access to actionable data, day or night, even in challenging environmental conditions. As a trusted partner to governments and commercial industries, ICEYE delivers intelligence in sectors such as defense and intelligence, insurance, natural catastrophe response and recovery, security, maritime monitoring, and finance, enabling decision-making that contributes to community resilience and sustainable development.
ICEYE operates internationally with offices in Finland, Poland, Spain, the UK, Australia, Japan, UAE, Greece, and the US. We have more than 900 employees, inspired by the shared vision of improving life on Earth by becoming the global source of truth in Earth Observation.

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