Planet Labs Secures $230 Million Deal for Satellites in Asia-Pacific

Satellite imagery firm Planet Labs announced a $230 million agreement to construct satellites for an undisclosed Asia-Pacific customer, marking its largest contract to date as it ventures into dedicated satellite services. The deal, spanning seven years with satellite delivery expected in 2026, highlights Planet’s shift from primarily offering data services to building customer satellites. The company did not disclose the customer’s identity, only stating it is a long-standing commercial partner in the Asia-Pacific region, nor did it specify the number of satellites involved.

Planet CEO Will Marshall explained that the decision to enter the satellite manufacturing business reflects a growing demand from foreign governments for more control over and access to satellite data, crucial for security and intelligence operations. “We’ve seen these geopolitical changes, a lot of countries are pushing more for dedicated capabilities,” Marshall noted, emphasizing the strong market demand for such services.

The satellites under this agreement will be Planet’s high-resolution Pelicans, operated by Planet with the customer having priority access to direct the satellites over areas of interest in Asia. Despite this, Planet will retain the right to sell data from these satellites to its other data customers, ensuring a diversified revenue stream.