Satellite operators revealed that their businesses are performing well in this pandemic period while other industries are recording losses. Nevertheless, they added that there might be an onset of unpredictable long-term problems cropping up in this season.
The leaders and stakeholders in the space industry noted that they have been witnessing high demand for their services by various entities, including aviation and maritime support. The companies articulated this in their Euroconsult World World Satellite Business Week Virtual Edition meeting.
Rupert Pearce, the CEO of Inmarsat, explained that his company has been operating on the highs even with the demise of some space companies that were thought would excel. Inmarsat opted for a buyout by another company to retain its capital base and operate at an advantage, winning it several contracts for launch missions. This private acquisition strategy allowed the company to rise to supersede its counterparts that decided to remain public with some recording incidences of bankruptcy.
Inmarsat’s treatment as a private company grants it the opportunity to hide its capital base and flourish from the commercial customer deals in the private sector. The company’s chief executive added that they had not witnessed the financial challenges they anticipated because they made some erratic but informed decisions.
An excellent example of the situation that Inmarsat would be experiencing is its aviation operations, which have taken a recess. The company is under immense pressure to ensure that the aircrafts it develops can meet customers’ standards to avoid soiling their reputation. Pearce hinted that their profit levels have taken an upturn and expect the trend to proceed over the coming years.
Steve Collar, the head of SES, also gave similar optimistic results saying that business has been booming. In this period, when businesses would be recording losses, they are doubling their profits.
The CEO of Eutelsat, Rodolphe Belmer, uttered that the pandemic has opened up opportunities for satellite communications to gain popularity. The CEO believes that this trend will set the ecosystem’s pace to become a global community, not forget remote areas.
Furthermore, the chief of Intelsat, Steve Spengler, stated that they have also received a boost in their profits in this pandemic period. The bankruptcy charges they filed for did not come to pass, with the company enjoy the standard cushions of this status.
Finally, Spengler added that they are preparing to takeover Gogo commercial businesses to supplement their growing communications spectrum. Nevertheless, other space operators and scientists complained of the growing number of satellites in the low-Earth orbit, saying that it would open channels to introduce debris into space.