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  • Eutelsat,
  • Ground Stations, Satellites, Software,
  • France
Eutelsat and OneWeb combining to take on LEO and compete with Starlink
Eutelsat OneWeb gateway in Svalbard, Norway.
  • Stock
  • GEO, LEO
  • Ground Stations, Satellites, Software
  • France
  • Yes

utelsat Group is the world’s first fully integrated GEO-LEO satellite operator, combining a massive geostationary fleet with a global low-Earth orbit constellation.

  • From a European POV, Eutelsat is the only local space stock that competes head-to-head with Starlink.

Eutelsat Group (formerly Eutelsat Communications) is a European heavyweight in the satellite industry and recently underwent a massive transformation. In September 2023, the French satellite giant completed its all-share merger with the UK-based OneWeb, this fusion created a unique “multi-orbit” SATCOMs player, operating a fleet of 37 Geostationary (GEO) satellites and a constellation of over 600 Low-Earth Orbit (LEO) satellites.

Going back decades, Eutelsat’s core revenue was Video and Broadcast (TV channels); a market in structural decline. To survive they smartly pivoted toward Connectivity, blending the high-throughput, high-density capacity of GEO with the low-latency, global ubiquity of OneWeb’s LEO network.

Eutelsat aims to provide seamless internet services for maritime, aviation, government, and corporate sectors. This approach is their USP against competitors like SpaceX’s Starlink and Amazon’s Project Kuiper.

The company is currently in a heavy investment phase, focusing on the deployment of OneWeb’s Gen-2 constellation. While this requires significant capital expenditure (Capex), Eutelsat has set an ambitious target of reaching approximately €2 billion in annual revenue by 2027.

A key plus for avid space investors, is that Eutelsat is the only European space stock that competes head-to-head with Starlink, adding to Space Fortress Europe.

E3B stock chart by TradingView