ORLANDO, Florida, Jan 29 (Reuters) - Satellite imagery
firm Planet Labs said on Wednesday it signed a $230
million agreement to build satellites for an unnamed customer in
the Asia-Pacific region, clinching its biggest contract yet as
the company expands beyond data services.
The deal, to be paid over seven years and with the
satellites poised for delivery in 2026, underscores Planet's
foray into the dedicated satellite services market after years
of primarily offering customers imagery and other data collected
by its own fleet of roughly 200 satellites.
Planet did not name the customer - only saying it is a
"long-standing, Asia-Pacific commercial partner" - or say how
many satellites were part of the deal.
The company's move to build customer satellites, Planet CEO
Will Marshall told Reuters, underscores growing demand from
foreign governments to have more control over and greater access
to satellite data that has played increasingly vital roles in
security and intelligence operations.
"We've resisted that a little bit because we wanted to build
up this data business," Marshall said of getting into the
business of selling satellites.
"We've seen these geopolitical changes, a lot of countries
are pushing more for dedicated capabilities," Marshall said.
"It's a strong market demand that we're seeing."
The satellites under the deal will be Planet's
high-resolution Pelicans, which will be operated by Planet, with
the customer having priority on when and where to point the
satellites as they orbit over the customer's area of interest in
Asia.
Planet will retain the ability to sell data collected by
those satellites to its other data customers, Marshall said.
(Reporting by Joey Roulette; Editing by Muralikumar
Anantharaman)