The European Union has taken a significant step forward in its plans to establish a constellation of internet satellites, signing a €10.6 billion ($11.1B) deal to launch nearly 300 satellites into low- and medium-Earth orbits by 2030. This ambitious project, known as Iris² (Infrastructure for Resilience, Interconnectivity and Security by Satellite), aims to boost the EU's digital sovereignty by providing secure communications to governments.

First announced in 2022, Iris² is a public-private partnership that has undergone a fraught negotiation process, resulting in a 76% increase in its initial cost estimate of €6 billion. The program will be 61%-funded by the public sector, with the remaining amount covered by an industry consortium called SpaceRise, which was selected in October. This consortium includes French satellite giant Eutelsat, which merged with European rival OneWeb in 2022.

The EU's initiative is seen as a direct response to Elon Musk's Starlink, which has already launched over 6,000 satellites into orbit and boasts over 4 million subscribers. Starlink has also secured major deals with companies like Royal Caribbean and United Airlines, and is gearing up to launch a direct-to-phone service with T-Mobile. The EU's move is likely an attempt to reduce its reliance on private companies like Starlink and ensure secure, independent communication networks for its governments.

The implications of this project are far-reaching, with the potential to significantly enhance the EU's digital infrastructure and provide a secure, reliable means of communication for governments and other organizations. However, the project's massive cost and complex implementation process will likely pose significant challenges in the years to come.

Industry experts are also watching the development of Iris² closely, as it could have significant implications for the global satellite internet market. With the EU's project set to launch nearly 300 satellites, it could potentially disrupt the dominance of private companies like Starlink and create new opportunities for European companies in the space tech sector.

As the EU moves forward with its ambitious plans, it remains to be seen how Iris² will ultimately shape the global satellite internet landscape. One thing is clear, however: the EU is committed to establishing a secure, independent communication network, and is willing to invest heavily to make it a reality.

In the coming years, the development of Iris² will be closely watched by industry observers, policymakers, and the general public alike. As the project takes shape, it will be important to monitor its progress, assess its impact, and consider the broader implications for the future of satellite internet and digital sovereignty.