Low Earth orbit (LEO) satellite constellations provide real-time network services to people in remote and underdeveloped areas. As LEO satellite deployments increase globally, commercial aerospace companies are becoming significant players.
In China, Geespace, a commercial aerospace company under Geely, is building and operating the Geely Future Mobility Constellation. This constellation has completed the deployment of two orbital planes. The third plane is scheduled to launch in the second half of this year, initiating global application services. The fourth plane will include direct-to-cell satellite communication payloads, supporting many existing mobile phones. Geespace plans to complete the first phase of the constellation with 72 satellites within two years, offering global real-time data communication services.
Iridium reported $203.9 million in total revenue and $19.7 million in net income for the first quarter of 2024. Iridium's history highlights two main challenges in the LEO satellite industry: reducing construction costs and finding a successful business model.
Geespace addresses these challenges in three steps:
- Satellite Manufacturing: Geespace uses Geely's automated assembly technology and mass production management model to create an intelligent, flexible satellite production line. This reduces the assembly, integration, and test (AIT) cycle and lowers production costs by 45%, with an annual production capacity of 500 satellites.
- Satellite Application: In 2023, Geespace achieved large-scale applications of satellite communication and satellite-based high-precision positioning. Several Geely models, including Zeekr and Geely Galaxy, are equipped with Geespace's two-way satellite communication functions.
- Business Models: Providing global commercial services is becoming the mainstream trend among companies like SpaceX, Iridium, and Geespace.
In Southeast Asia, Geespace signed an agreement with Malaysian telecom operator Altel to advance smart port and smart agriculture solutions. In the Middle East, Geespace partnered with Omani satellite communication company Azyan Telecom to promote the deployment of Geely Future Mobility Constellation's services, including direct-to-cell, in the Middle East and Africa.
With successful examples like Iridium and SpaceX, Geespace's global expansion is strategic and expected to bring significant commercial value.
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