- Space42 secured a USD 5.1 billion contract with the UAE government to extend critical communication services for 17 years beyond 2026.
- The company will enhance services through the launch of two new satellites, Al Yah 4 and Al Yah 5, in 2027 and 2028, supported by AED 3.7 billion in advanced payments.
- Formed in 2024 through the merger of Bayanat and Yahsat, Space42 aims to strengthen its role in space technology and secure communications, with a backlog of contracted revenues totaling AED 26 billion.
AI-driven space technology company, Space42, has secured a USD 5.1 billion (AED 18.7 billion) contract with the UAE government. The main goal to extend its provision of critical and secure communication services for an additional 17 years beyond 2026.
The company, listed on the Abu Dhabi Securities Exchange, will deliver related managed services using its existing Al Yah 1 and Al Yah 2 satellites. These services will be also enhanced by two new advanced satellites, Al Yah 4 and Al Yah 5, expected to be launched in 2027 and 2028.
Funding and Regional Communication Expansion
Under the agreement, Space42 will receive AED 3.7 billion in advanced payments to build these new satellites. The satellites will also provide secure government communications across the Middle East, Africa, Europe, and Asia. The development cost for the Al Yah 4 and Al Yah 5 program is projected at AED 3.9 billion.
Space Technology’s Vital Role
Furthermore, space technology is crucial for communication, navigation, and environmental monitoring. It supports global connectivity through satellite internet, tracks natural disasters, and improves GPS systems for transportation and defense.
Space42 was formed in October 2024, following the merger of Bayanat and Al Yah Satellite Communications Company (Yahsat). The company aims to strengthen its position in space technology and secure communications for government purposes.
The company boasts a backlog of contracted revenues totaling AED 26 billion, equivalent to 10 times its revenue for the last 12 months as of September 30, 2024.
Merging Expertise for a Stronger Future
AI-driven space technology company emerges from the collaboration of Bayanat, known for geospatial intelligence, and Yahsat. The later is a satellite operator offering multi-mission satellite services. This merger positions Space42 as a critical player in the UAE’s space ambitions.
Additionally, Space tech drives innovation in industries like robotics and AI, and fosters international collaboration. It plays a key role in national security and scientific exploration, offering new opportunities for resource management and sustainable development.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.