Ukraine war sparked race for countries to build spy satellites, space-tech CEO says

Countries are racing to expand their spy satellite fleets, as the war in Ukraine forces them to reconsider the intelligence they would rely on in a conflict, the CEO of a space-tech firm told CNBC. Russia's full-scale invasion of Ukraine in 2022 marked a "pivotal moment" for the space industry, ICEYE co-founder and CEO Rafal Modrzewski told CNBC on Tuesday. Europe, as well as Japan, India and Brazil, are now looking to substantially expand their satellite fleets, he said.The market has "suddenly tenfolded in size," Modrzewski said, adding that countries increasingly view the technology as critical to securing their sovereignty.Space, he added, is shifting from a capability that merely supports military operations to "a primary asset that will determine who is going to win or lose."Governments build out satellite fleetsEuropean nations' spending on space rose 12% to 13.5 billion euros in 2025, "mainly due to increased national defence spending," led by Germany, according to a European Space Agency report published last month.ICEYE makes radar-imaging satellites that governments can use for surveillance, reconnaissance and intelligence gathering, using a technology called synthetic a...