NEWTOWN, Conn. - Skybox Imaging is part of a wave of new remote sensing satellite operators that hope to utilize new technologies and business models to break into the Earth imagery business. SkySat satellites have a launch mass of between 100 and 120 kg, which are actually larger than some other companies, like Planet Labs, which is building 6 kg satellites. However, SkySats are still much smaller than other satellites such as DigitalGlobe's WorldView-2 that had a launch mass of 2,800 kg.
Rather than relying on just a few large expensive spacecraft, Skybox is building a satellite network that will eventually feature 24 satellites about the size of a mini-fridge. The network will be able to provide global coverage and update images of one spot up to five times per day. Skybox has not revealed prices for its satellites, but they will cost much less than the larger, more complex satellites that are currently in favor for commercial remote sensing operators.
Large fleets of satellites are enabled by modern computer technology, which allows miniaturization of components. Only a few years ago, small satellites made up only a handful of all satellite launches. However, in recent years, their popularity has grown. Over 90 were launched in 2013 alone. Their small size reduces manufacturing and launch costs and improves network resiliency, since the loss of one satellite would not be catastrophic. In the past, most small satellites were built for research institutions and universities to test scientific theories and develop technology. However, companies like Skybox Imaging and Planet Labs hope to commercialize the new technology.
The biggest boost for Skybox Imaging came in __ when Google agreed to acquire the company for $500 million. Being part of Google will give Skybox enough cash to fund its capital expenditures and keep its satellite fleet up to date. It will also give the company a ready application, since its satellite imagery will be used to keep Google Maps and Google Earth current. The company will also benefit from Google's marketing abilities and global reach to sell its services to other companies around the world.
While companies like Planet Labs and Skybox Imaging offer an innovative approach to remote sensing, their business models are unproven. So far, successful remote sensing satellite operators have relied on large satellites. Furthermore, sales have been large dominated by government buyers. It remains to be seen if these new companies will be able to sign up enough customers to cover the costs of building a satellite network. Even small satellites can be expensive once launch and insurance costs are included. That said, Skybox Imaging's focus on providing usable and current data to customers, along with Google's deep pockets, will drive production of satellites for the foreseeable future. While Forecast International is not projecting a prime contractor for SkySat follow-on satellites, incumbent SSL is considered the front-runner for the contract.
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