BAE Systems PLC (LSE:BA.) has snapped up satellite innovator In-Space Missions for an undisclosed fee as the FTSE 100 aerospace group sees a major opportunity for the UK to be a “global player” in the space technology sector.
In-Space Missions, which has been based in Hampshire since it was founded in 2015, designs, builds and operates satellites and satellite systems using an innovative approach to combining satellites into a payload rideshare, allowing multiple payloads to be launched and operated together as one satellite in space.
Known as its Faraday service, this approach “not only reduces cost and time to launch, but also contributes to space sustainability by reducing the number of separate satellites”, BAE said.
In-Space’s speciality is offering space services for activities covering earth observation, satellite communications, navigation, and space science and exploration.
The first Faraday service launch of a combined satellite was achieved in June, carrying In-Space’s own Babel payload and six payloads for paying customers, including Airbus, Lacuna, SatixFy and Aeternum.
The Faraday service also allows for digital payloads to be uploaded to its Babel proprietary ultra-wideband radio frequency platform, which In-Space said should reduce the time to orbit for customers from many years to a few months.
With BAE Systems already providing space products in waveforms, electronics, antenna and digital signal processing and analytics, the addition of In-Space Missions adds the capability to create, launch and operate complete satellites, it said.
“The UK has an opportunity to be a global player in the growing low earth orbit space market, as well as servicing its own sovereign defence and commercial needs,” said Ben Hudson, BAE’s chief technology officer.
“This acquisition will allow us to combine a range of space capabilities that help deliver information advantage, multi-domain operations and networking for our customers. We look forward to welcoming the In-Space Missions team to BAE Systems.”
BAE chief executive Charles Woodburn also told Reuters the wider space market “will be a big opportunity for us”, while Hudson added that the company is already working on other plans to expand its space business.