Boeing to Revive Commercial Satellite Business

Boeing is looking to revive its commercial satellite business, in part by introducing a smaller, more flexible line of spacecraft, the Wall Street Journal reported on Friday.

The new satellite model, a modified version of its 702 family, is expected to be completed this year, the paper said, citing Howard Chambers, head of Boeing's Space & Intelligence Systems unit.

Even before the new design is formally offered to corporate and military customers, slated for 2008, Boeing plans to step up its presence in the commercial market, the paper said, citing Chambers.

In January, Boeing announced its biggest satellite order in nine years, to build the backbone of a new hybrid satellite-cellular communications network. Depending on options, the contract could be worth between $500 million and $1 billion.