BlackSky vs iQPS: Earth observation compared

November 2026 edition · assessment by Frontier Tech Intelligence

BlackSky ranks 34 on the Space 100 with a score of 78; iQPS ranks 47 with 75. BlackSky is ahead on commercials, progress and technology. iQPS is ahead on deployment and leverage. Level on production, positioning and firepower. BlackSky is based in Herndon, United States, iQPS in Fukuoka, Japan. BlackSky: Established. iQPS: Public. BlackSky is named in 30 signals and iQPS in 32.

BlackSky →

Herndon, Virginia, United States · Space · Satellites & spacecraft / Earth observation · Established · blacksky.com

BlackSky provides real-time satellite-derived intelligence for tactical surveillance, tracking and ISR customers including the U.S. Space Force and international defense users.

Space 100 · rank 34 · score 78AI Core · watchlist · score 61

Scores, Space (of 10)

Deployment8
Production6
Commercials8
Progress10
Technology8
Positioning8
Firepower8
Leverage6

Darker bar: ahead of the other company on that measure.

Positioning

BlackSky is a US Earth-observation operator (NYSE:BKSY) deploying its Gen-3 constellation (35cm imagery, sub-hourly revisit), with FY25 record revenue of $107M, Q2-26 revenue of $33M (+50%), and FY26 guidance of $130-150M at positive adjusted EBITDA (a second consecutive positive-EBITDA year). Backlog reached ~$380M by Q1-26 (including a $99M sole-source AFRL IDIQ ceiling), with more than 80% of funded backlog in multi-year international subscription contracts and international growth now outpacing the US. It is converting bespoke missions into recurring subscriptions while spending up to $60M capex to scale Gen-3.

Latest signals

  • BlackSky extended its HEO agreement with a seven-figure annual non-Earth imaging contract.Satellite Evolution
  • BlackSky CEO Brian O'Toole identifies sovereign market as the top opportunity at Space Defense and Security SummitVia Satellite
  • Sovereign Earth Observation satellite market executives assess changing dynamics at Space Defense and Security summitVia Satellite

30 signals name BlackSky.

Facts, with sources

  • Exclusive provider of a very high-resolution electro-optical constellation for a new space-based AI infrastructure initiativewww.stocktitan.net — 2026-09-09
  • Seven-figure, multi-year international contract for combined Assured and On-Demand subscriptionsLeoStella
  • International customer revenues grew year-over-year in Q2 2026SpaceNews

38 facts on file.

iQPS →

Fukuoka, Fukuoka, Japan · Space · Satellites & spacecraft / Earth observation · Public · i-qps.net

iQPS operates the QPS-SAR constellation of small radar satellites, providing day-and-night Earth observation imagery with little sensitivity to cloud cover.

Space 100 · rank 47 · score 75

Scores, Space (of 10)

Deployment9
Production6
Commercials4
Progress9
Technology6
Positioning8
Firepower8
Leverage8

Darker bar: ahead of the other company on that measure.

Positioning

iQPS is a Japanese SAR operator (TSE-listed) running the QPS-SAR constellation (8+ satellites under JSAT operations contracts, QPS-SAR-15 first-light images in January 2026), which raised a JPY 15.2B PIPE in March 2026 (SKY Perfect JSAT, Mitsui Sumitomo taking 18.23%) for mass production and launches. It is a member of the winning Japanese MoD Satellite Constellation Project consortium (December 2025), the sovereign-SAR national team, carrying the same MoD-dependency flag as Synspective. Revenue is estimated at 10-100m class.

Latest signals

  • MaiaSpace and iQPS signed a multi-launch agreement beginning in 2029.Payload
  • iQPS and MaiaSpace signed a basic agreement for QPS-SAR launches from 2029 onward.sorae
  • iQPS expanded its QPS-SAR constellation plan beyond 36 satellites.sorae

32 signals name iQPS.

Facts, with sources

  • 26SpaceNews
  • 24Via Satellite
  • MaiaSpace and iQPS signed a multi-launch agreement beginning in 2029Payload

39 facts on file.

More comparisons

Questions this page answers

BlackSky or iQPS: which is ahead in space?

BlackSky ranks 34 on the Space 100 with a score of 78; iQPS ranks 47 with 75. BlackSky is ahead on commercials, progress and technology. iQPS is ahead on deployment and leverage. Level on production, positioning and firepower. BlackSky is based in Herndon, United States, iQPS in Fukuoka, Japan. BlackSky: Established. iQPS: Public. BlackSky is named in 30 signals and iQPS in 32.

How do BlackSky and iQPS compare?

BlackSky ranks 34 on the Space 100 with a score of 78; iQPS ranks 47 with 75. BlackSky is ahead on commercials, progress and technology. iQPS is ahead on deployment and leverage. Level on production, positioning and firepower. BlackSky is based in Herndon, United States, iQPS in Fukuoka, Japan. BlackSky: Established. iQPS: Public. BlackSky is named in 30 signals and iQPS in 32. Both company files carry the scores on eight measures, the facts with sources and the latest signals.

Every comparison here comes from the same files members use every day.

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