Radar sat operators Capella, Iceye, Synspective, Umbra: Consolidation’s coming. Big commercial market? Unsure

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PARIS — Four startup radar satellite imagery companies that have raised significant private capital — Capella Space, Iceye, Synspective and Umbra Labs — agreed that radar imagery remains a government-dominated market with little demonstrated price elasticity.

Commercial demand is growing, they said, but government customers pay so well that none of the providers is ready to cut prices in the belief that a vast new market will emerge.

“The government does not work like that,” said Capella Space Chief Executive Payam Banazadeh. “As . . .

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