Planet Labs Secures $230M Contract for Pelican Satellites

Planet Labs: Strategic Growth Through Major Satellite Contracts

Planet Labs has recently announced a series of groundbreaking contracts and launches, marking a significant milestone in its mission to expand its satellite data offerings across various sectors. Here’s an overview of the latest developments and how they impact the company’s future.

A $230 Million Deal for Pelican Satellites

Planet Labs secured its largest contract to date, valued at $230 million, with a partner in the Asia-Pacific region. This long-term agreement will see the company build and deploy a new constellation of Pelican satellites, providing its partner with priority access to their bandwidth and operational support.

Pelican satellites represent a next-generation high-resolution technology that enhances imaging capabilities, spectral bands, and data delivery times. The Pelican-2, launched on January 14, 2025, is equipped with an NVIDIA GPU processor for real-time AI analysis, enabling Planet Labs to deliver critical data within minutes, significantly improving responsiveness.

According to CEO Will Marshall, this agreement is part of Planet’s broader strategy to expand into the defense, intelligence, civil administration, and commercial satellite service sectors. Planet is also involved in other strategic projects, such as the Tanager program, which provides hyperspectral data in collaboration with the Carbon Mapper Coalition, and the NASA CSP project, aimed at advancing satellite-to-satellite communications.

The $230 million contract will ensure steady revenue for Planet over the next seven years, boosting its financial position for FY’26 and FY’27. CFO Ashley Johnson emphasized that this deal enables the company to grow without the need for new capital or debt issuance.

Joining the Copernicus Contributing Missions

In another significant move, Planet Labs has entered a long-term agreement with the European Space Agency (ESA), becoming an official data supplier within the Copernicus Contributing Missions. This collaboration means Planet’s satellite data from the PlanetScope and SkySat constellations will complement the data provided by ESA’s Sentinel satellites, enhancing geoinformation analysis for global users.

Planet has been working with ESA for over a decade, contributing data for research on climate change, urbanization, and natural resource monitoring. Massimiliano Vitale, Senior VP at Planet, expressed his honor in being part of the Copernicus program, underscoring Europe’s leadership in Earth observation innovation.

Winning the $200 Million Luno B Contract

Planet Labs has also been selected as a data provider under the $200 million Luno B contract by the National Geospatial-Intelligence Agency (NGA). This deal will supply high-quality geospatial intelligence (GEOINT) data to support military, decision-makers, and mission partners in the United States.

The Luno B contract will help NGA accelerate the development of AI for GEOINT analysis, supporting critical decision-making processes. The satellite data provided under this contract will be used for monitoring economic, environmental, and geopolitical activities, as well as tracking illegal activities globally. This contract spans five years, with a potential total value of $200 million.

Successful Launch of Pelican-2 and SuperDove Satellites

On January 14, 2025, Planet Labs successfully launched Pelican-2 and 36 SuperDove satellites on a SpaceX Transporter-12 Rideshare mission from Vandenberg Space Force Base in California. These satellites join Planet’s largest commercial Earth observation fleet, enhancing environmental change analysis, resource management, and global trend monitoring.

Pelican-2 is part of a new generation of high-resolution satellites, providing 40cm imagery across six spectral bands, optimized for multispectral analysis. It features the NVIDIA Jetson platform, enabling on-orbit AI processing and real-time data delivery. This system supports object detection, vegetation classification, and disaster response.

In addition, Pelican-2 is equipped with C-band and Ka-band radios, enabling the first satellite-to-satellite communication tests under NASA’s Communications Services Project (NASA CSP), marking a significant step towards faster, more efficient data transfer between satellites.

The 36 new SuperDove satellites, which are part of the PlanetScope fleet, will continue to monitor climate change, urbanization, and natural resource management. They provide daily 8-band data to commercial, scientific, and governmental users.

Planet Labs’ Market Performance

As a result of these major contracts and advancements, Planet Labs’ stock has surged, rising 40% in the past month and 147% over the past year. This positive market performance reflects growing investor optimism about Planet’s future in the space-based geospatial intelligence sector.

These strategic moves demonstrate Planet Labs’ commitment to expanding its capabilities in Earth observation and satellite communications, solidifying its position as a leading provider of geospatial data solutions. With robust contracts in place and innovative satellite technology, Planet is well-positioned for sustained growth in the coming years.