Synspective Expands Satellite Launches with 10 New Rocket Lab Deals

Synspective, a Japanese company focused on building a constellation of radar imaging satellites, has secured a deal with Rocket Lab for an additional 10 Electron launches. Announced on September 30, 2024, during the International Astronautical Congress in Sydney, this agreement will see each launch carry one StriX radar imaging satellite.

The launches are scheduled to take place from Rocket Lab’s Launch Complex 1 in New Zealand. This new contract follows a separate agreement signed in June 2024, which included 10 Electron launches set for 2025 through 2027. The earlier contract marked the largest single purchase for Rocket Lab’s Electron to date.

Strong Partnership and Future Plans

With this latest arrangement, Synspective solidifies its position as Rocket Lab’s largest Electron customer. To date, six launches have been completed, and Synspective has a backlog of 21 future launches through the end of the decade. Peter Beck, Rocket Lab’s chief executive, emphasized the importance of regular and reliable launch options for Synspective’s constellation. “Electron has been integral to this from the start as the sole launcher of all StriX satellites in space today,” he stated.

While Synspective has exclusively relied on Rocket Lab for its launches thus far, it is diversifying its launch strategies. Earlier this year, the company signed a contract with SpaceX for the launch of two satellites on rideshare missions. Additionally, in July 2024, Synspective reached an agreement with launch service provider Exolaunch for 10 satellites beginning in 2027. Exolaunch primarily facilitates rideshare missions, including those from SpaceX’s Transporter series.

Challenges and Market Demand

During the Exolaunch signing ceremony, Motoyuki Arai, founder and chief executive of Synspective, highlighted the challenges in the launch services market. “We have to expand the satellite constellation immediately, but the problem is the shortage of launch opportunities,” he explained. “It’s very tough to find the appropriate opportunities.”

Synspective aims to deploy 30 synthetic aperture radar imaging satellites into orbit by 2030. The company is experiencing strong demand for its radar imagery, particularly from the Japanese government and commercial clients. In December 2023, Synspective went public on the Tokyo Stock Exchange, marking a significant milestone in its growth.

As of August 2024, Synspective reported a revenue of 1.327 billion yen (approximately $9 million) for the first half of 2024, reflecting a 28% increase compared to the same timeframe in 2023. However, the company also reported a net loss of 2.484 billion yen for the first half of 2024, nearly double the loss from the previous year.

With these developments, Synspective continues to make significant strides in the satellite launch industry, navigating challenges while positioning itself for future growth.