Aug 7 (Reuters) - Spanish defence company Indra said on Friday its majority-owned satellite operator Hispasat was named prime contractor for antennas, control systems and ground links in the European Union's IRIS2 secure satellite network, with a budget of over €1.6 billion ($1.74 billion).
The operator, 89.68% owned by Indra, will also lead a Low Earth Orbit layer for direct-to-device and Internet of Things connectivity, with up to €600 million committed.
KEY DETAILS
• The award comes after talks between the European Commission, European Space Agency and SpaceRISE, a consortium formed of Eutelsat, SES, and Hispasat.
• The IRIS2 constellation is set to enter service in 2030, with total investment at €15.6 billion, including €4 billion from SpaceRISE.
• Hispasat's role in the IRIS2 network adds to Indra's gain from surging European military spending in Europe, with EU outlays projected to rise to €454 billion in 2026 from €418 billion last year.
(Reporting by Mireia Merino, Editing by Victoria Waldersee)
