On December 17th, Jinshi Data reported that the European Space Agency announced on its official website on the 16th that the European Union will develop the IRIS2 communication satellite system to enhance the EU's autonomy and security in the communication network. The IRIS2 system is the third flagship satellite program of the EU, following the Earth observation system 'Copernicus Program' and the Galileo satellite navigation system. The European Commission has signed a 12-year franchise contract worth 10.6 billion euros with SpaceRISE, the designer and operator of the system. The European Commission will contribute 6 billion euros, the European Space Agency will contribute 550 million euros, and the private sector will contribute more than 4 billion euros. It is reported that the IRIS2 system consists of 290 satellites, including 272 in low Earth orbit and 18 in medium Earth orbit, with related ground facilities, forming an autonomous and multi-tasking satellite constellation, which is expected to start providing services in early 2030.