Inmarsat, a leading provider of global mobile satellite communications services, agreed to a contract with The Boeing Co. for the delivery of three state-of-the-art 702HP Ka-band satellites.
The Inmarsat-5 constellation will enable Inmarsat to provide a global high-speed mobile broadband service offering.
With operations expected to start in 2014, Inmarsat-5 will support a next-generation global service, Global Xpress, which will target a $1.4 billion incremental market opportunity in VSAT services.
Global Xpress will address the established, growing markets for VSAT services in the maritime, energy and government sectors, with further growth potential in developing markets, such as the aeronautical sector.
Inmarsat estimates that the total cost of Inmarsat-5 and Global Xpress will be $1.2 billion over nearly five years.
"This is a new investment for new growth. With the Global Xpress network, we will be the first operator to offer global mobile broadband coverage, offering unparalleled speeds and bandwidth to customers in remote locations around the world," Inmarsat chairman and CEO Andrew Sukawaty said in a statement.