Planet Secures $230 Million Contract for Pelican Satellites

The deal marks Planet's largest to date, advancing its entry into the satellite services market with a long-standing Asia-Pacific partner.

Planet's $230 million contract involves building, launching, and operating Pelican high-resolution Earth-observation satellites for an unnamed Asia-Pacific customer.
The customer, described as a long-standing commercial partner, will gain priority access to satellite data over its region of interest while Planet retains global data licensing rights.
The satellites, featuring advanced technology like Nvidia's Jetson AI platform, will provide imagery with a resolution of up to 40 centimeters per pixel.
Planet expects to recognize revenue from the deal over seven years, with financial benefits anticipated to strengthen its balance sheet starting in fiscal year 2026.
This contract signals Planet's strategic expansion into the satellite services market, complementing its established data business and enabling faster scaling of its Pelican satellite constellation.