It has been confirmed that Max Polyakov, a wealthy businessman from Ukraine, has acquired Dragonfly Aerospace, the satellite manufacturer from South Africa. The CEO and founder of EOS Data Analytics, which has been in the market for quite some time providing advanced analysis and satellite image processing solutions, recently announced this news.
According to Max Polyakov, the deal has been signed for an undisclosed amount. He also added that it would give them control for the mass production and cost of the components, which means everything will be bought in-house. The space enthusiast also mentioned that he intends to see Dragonfly devices launched on Firefly’s Alpha rocket. Firefly is another one of the companies owned by Max Polyakov and specializes in developing small and medium launch vehicles for commercial orbital launches.
What Is the Future for this Acquisition?
In recent reports, it has been indicated that the market for satellite-based EO (earth observation) is booming now, more than ever. With the help of major technological advancements in terms of data storage and collection, the boom should remain the same for many years to come. Additionally, the market’s growth is also encouraged by the international recognition of such an activity as a critical tool to address many types of challenges in the 21st century. These include disaster mitigation, resource management, and climate change.
The businessman from Ukraine will manufacture and launch the small satellites constellation into the Low Earth orbit. With this, he hopes to place himself at the top of the growing and competitive market. He aims to manufacture 48 satellites each year, with 16 in parallel. With the addition of new a new specialist company, the Ukrainian businessman may very well be able to do so. Additionally, he also has other projects in his portfolio like the EOSDA (EOS Data Analytics), SETS (space electric thruster systems), etc. Dragonfly Aerospace is also pushing towards building a facility for microsatellite constellation production. Technological advancements have allowed scientists to reduce the size of satellites while increasing their capacities ranging from communication and security to climate studies.