On Sept. 21, 2026, Belgian satellite manufacturer Aerospacelab confirmed it achieved financial profitability in early 2026, prior to securing a €2.4 billion ($2.75 billion) prime contract to construct 264 satellites for the European Union’s Infrastructure for Resilience, Interconnectivity and Security by Satellite (IRIS²) Low Earth Orbit (LEO) constellation.
Financial Performance and Revenue Structure
The transition to profitability marks an operational pivot following fiscal 2025, during which the manufacturer reported a €17.75 million net loss on revenue of €14.6 million ($17.2 million). Speaking on the firm’s financial trajectory, Chief Executive Officer Benoit Deper attributed the early 2026 earnings turnaround to expanding subsystem component contracts and low-volume complete spacecraft deliveries for commercial and government clients.
Reaching positive cash flow prior to the IRIS² award provides the company with independent balance sheet stability as it scales industrial operations to fulfill multi-year sovereign constellation manifests.
Megafactory Infrastructure and Manufacturing Capacity
Aerospacelab’s operational scaling relies on its 20,000-square-meter satellite manufacturing facility in Belgium, which initiated pilot production runs in early 2026.
- Facility Footprint: 20,000 square meters of integration and testing space
- Full Construction Deadline: 2027 completion date
- Annual Output Capacity: Sized to manufacture up to 500 satellites per year
- Supported Spacecraft Mass Range: 15 kilograms to 1,000 kilograms
- Baseline Commercial Products: Subsystem components, standardized smallsat buses, and custom satellite platforms
The facility utilizes automated assembly workflows designed to mirror automotive serialized manufacturing, allowing the plant to produce both small microsatellites and larger 1-ton platforms on parallel integration lines.
IRIS² Production Schedule and Delivery Timeline
With early 2026 profitability established and megafactory commissioning underway, Aerospacelab will focus capital allocations on scaling supply chains for the 264-satellite IRIS² LEO layer. Tooling and line ramp-ups will continue through full factory completion in 2027 to meet delivery milestones for the sovereign European communications network.