September 18, 2021

The World Stock Markets Tips & Targets, News, Views & Updates

The World Stock Markets Tips & Targets, News, Views & Updates

OneWeb launches 34 more satellites, expands in-orbit LEO constellation to 322

OneWeb, a Low Earth Orbit (LEO) satellite communications operator, co-owned by Bharti group and the UK government, launched another batch of 34 satellites by Arianespace from the Baikonur cosmodrome in Kazakhstan.

The latest launch takes OneWeb’s total in-orbit constellation to 322 satellites, nearly half of OneWeb’s entire 648 LEO satellite fleet that will deliver high-speed, low-latency global connectivity.

The company’s CEO Neil Masterson, in an official statement on Wednesday, said “OneWeb continues to see a huge and growing demand for its services from global customers,” adding that LEO satellite operator is excited about introducing commercial service and scaling its global network.

OneWeb said the latest launch builds on strategic distribution partnerships inked across a wide array of providers and businesses, including several earlier this month, including with AT&T, Hughes Network Systems, and Peraton. These agreements, along with others struck earlier with partners including Alaska Communications, BT, and Northwestel, are aimed at bringing improved digital communication services to some of the hardest to reach regions in the world.

OneWeb has raised $2.7 billion since November 2020, with no debt issuance. The company recently received an equity investment of $300 million from South Korea’s Hanwha Systems for an 8.8% stake. Bharti Group-backed OneWeb is readying to take on Elon Musk’s Starlink and Amazon’s Project Kuiper venture in the relatively nascent fast broadband-from-space segment. It will launch satellite broadband services in India by May 2022.

Bharti Enterprises chairman Sunil Mittal recently said OneWeb will sign up at least one telco in each of the 135-odd markets across the world in the run up to its targeted global satellite broadband coverage by mid-2022.

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