Synspective, a Japanese company focused on creating a constellation of radar imaging satellites, has finalized an agreement with Rocket Lab for an additional 10 Electron launches. This announcement was made on September 30, 2024, during the International Astronautical Congress held in Sydney, Australia. Each launch will carry a single StriX radar imaging satellite and will take place from Rocket Lab’s Launch Complex 1 in New Zealand.
This new contract follows a previous agreement signed in June 2024, where Synspective committed to another 10 Electron launches scheduled between 2025 and 2027. The earlier deal represented the largest single contract for Rocket Lab’s Electron rocket to date. Synspective now holds the position of Rocket Lab’s largest Electron customer, having completed six launches so far with a remaining backlog of 21 launches planned through the end of the decade.
Strategic Growth and Diversification
“Regular and reliable launch on a flexible schedule is essential to the buildout of Synspective’s constellation,” said Peter Beck, Chief Executive of Rocket Lab, in a statement. He emphasized the importance of the Electron rocket, which has been the exclusive launcher for all StriX satellites currently in orbit.
While Synspective continues to rely on Rocket Lab for its launches, the company is also broadening its launch partnerships. Earlier this year, it signed a contract with SpaceX to launch two satellites on rideshare missions. Additionally, in July 2024, Synspective established a deal with launch service provider Exolaunch for an upcoming series of ten satellites, with launches set to begin in 2027. Exolaunch specializes in organizing rideshare missions, including those under SpaceX’s Transporter series.
“We have to expand the satellite constellation immediately, but the problem in the launch services market is the shortage of launch opportunities,” stated Motoyuki Arai, Synspective’s Founder and Chief Executive, during the Exolaunch signing ceremony. “It’s very tough to find the appropriate opportunities.”
Financial Overview and Future Goals
Synspective aims to deploy a total of 30 synthetic aperture radar imaging satellites by 2030, driven by increasing demand for its radar imagery from both the Japanese government and commercial sectors. The company became publicly traded on the Tokyo Stock Exchange in December 2023.
In its latest financial report, Synspective disclosed revenue of 1.327 billion yen (approximately $9 million) for the first half of 2025, marking a 28% increase compared to the same period in 2024. However, the company also reported a net loss of 2.484 billion yen, nearly double the loss reported in the first half of 2024.
As Synspective continues to navigate the complexities of the satellite launch market, its strategic expansions and partnerships are set to play a critical role in fulfilling its ambitious goals and addressing current market challenges.
