ICEYE, a Finnish Synthetic Aperture Radar (SAR) satellite operator, has signed a procurement contract with IHI (TYO:7013) to build an Earth observation satellite constellation for security, civilian, and commercial use, according to a Thursday statement.

IHI placed an initial order for four satellites and an image acquisition system, with an option for 20 more. The first satellites are expected to begin phased commissioning and data delivery around April 2026. Two of the four will be assembled and tested in Japan, with IHI targeting a 24-satellite network by fiscal 2029.

The contract follows a May memorandum of understanding between the two firms to co-develop the constellation and establish satellite production in Japan.