Shares of 4iG, a leading Hungarian ICT, rallied 9% on December 10 on speculation that the company could work together with Elon Musk's SpaceX.
President-elect Donald Trump hosted Prime Minister Viktor Orban and his Foreign Minister Peter Szijjarto at his Florida estate, Mar-a-Lago, on December 9. It marked the first meeting between the two leaders since the November elections. The talks were attended by Gellert Jaszai, head of Budapest-listed 4iG and incoming National Security Advisor Mike Waltz and and tycoon Elon Musk.
One of the topics discussed was the launch of 4iG’s HUSAT satellite programme, the first of its kind in the CEE region to develop satellite-based telecommunications and Earth observation capabilities, the Hungarian IT group 4iG said in a statement. This could open a whole new chapter in the field of innovation and cooperation between the US and Hungary, it added.
Under the HUSAT initiative, the 4iG Group plans to deploy and operate one geostationary satellite (HUGEO) and an additional eight (6+2) low-Earth orbit satellites (HULEO) by 2032.
The company will manufacture the low Earth orbit satellites in a 4,000 sqm space technology centre, near Budapest, slated to start operating by 2026. 4iG’s space and defence arm, grouping a dozen companies, focuses on space and satellite development, the manufacturing of drones and anti-drone systems, and defence sector digitalisation.
"The friendly discussions marked the beginning of efforts to foster the adoption of advanced technologies and bolster transatlantic economic ties," Jaszai was quoted as saying in the statement.
The meeting signals Hungary's ambition to position itself as a credible player in the global space industry. This move represents a notable shift from initial scepticism toward Hungary’s space ambitions, which even drew criticism from within Orban’s own political circles. Over time, however, increased investment and strategic focus from both the Hungarian government and 4iG have turned these efforts into a serious undertaking, Telex.hu writes.
At a joint press conference with his Georgian counterpart, Szijjarto said Hungarian-American political relations are set to enter a "golden age" with the election of Donald Trump.