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Inmarsat agreed a contract with Airbus to manufacture three 'next-generation' Global Xpress network satellites, with the first scheduled to launch in the first half of 2023.
'A clear advantage of the Airbus production line approach is the accelerated satellite deployment capability,' Immarsat said.
'This capability, together with Inmarsat's well-established GX customer base, will ensure that new capacity can be quickly and accurately matched to demand, leading to a better outcome for customers and a lower risk infrastructure investment programme.'
The partnership would 'support the next generation of GX mobile broadband services with extraordinary ability to mobilise new capabilities for customers,' it added.
This new satellite programme will transform Inmarsat's global network, providing unprecedented agility in space segment deployment, as well as an enhanced ability to adopt and integrate future technology innovation and disruption to the GX product line.
Following the announcement, Inmarsat reaffirmed its confidence to sustain GX revenues at a run rate of $500m, which it said it was on track to achieve by the end of 2020.
At 8:29am: (LON:ISAT) Inmarsat PLC share price was +0.7p at 548.3p