Space42 (formerly Yahsat and BAYANAT) is an Abu Dhabi-based technology company operating in the satellite communications and AI-powered geospatial intelligence space. It secured a Dh18.7 billion contract with the UAE government for satellite services.

What does Space42 do?

Space42 provides satellite communications services, AI-powered Earth observation and geospatial intelligence. Its services include broadband connectivity, government communications, agricultural monitoring and national security applications.

Is Space42 listed on the stock exchange?

Space42 is listed on the Abu Dhabi Securities Exchange (ADX). The company's listing and the UAE government's Dh18.7 billion contract made it one of the most prominent UAE tech stocks and highlighted Abu Dhabi's space technology ambitions.

What is the UAE's space programme?

The UAE has an active space programme through the Mohammed Bin Rashid Space Centre, having successfully launched the Hope Probe to Mars in 2021 — making it the first Arab country to reach Mars orbit. The UAE also plans lunar missions.

How is Abu Dhabi investing in technology?

Abu Dhabi's tech investment is channelled through ADIA, Mubadala and G42 (AI conglomerate), Hub71 (startup accelerator), and government contracts like the Space42 deal. The emirate is positioning as a global AI and deep tech hub.

What is G42 and how does it relate to Space42?

G42 is Abu Dhabi's leading AI and technology company, backed by Mubadala. Space42 operates in an adjacent space with government backing. Both reflect Abu Dhabi's strategy to build world-class technology companies alongside its sovereign investment portfolio.

Abu Dhabi Space42: The UAE's $18.7 Billion Space & AI

Abu Dhabi-based AI-powered space technology company, Space42, has signed a landmark Dh18.7 billion ($5.1 billion) agreement with the UAE Government. This agreement provides secure satellite communication services until 2043. The 17-year contract, set to commence in 2026, highlights the UAE’s growing leadership in space technology. It also reinforces Space42’s financial strength.

Two men seated at a table on a stage, signing documents, with a backdrop displaying "yahsat" and "eSAT Global" logos. The man on the left wears traditional Middle Eastern attire, and the man on the right is in a suit. A small UAE flag and a sign reading "Thuraya" are on the table.

Long-Term Revenue and Advanced Services

The contract significantly strengthens Space42’s financial position. It forms a large part of its Dh26 billion backlog of contracted revenues. This backlog represents approximately 10 times its last-12-month revenues as of September 30, 2024. Thus, it ensures a clear, long-term cash flow outlook through 2043.

A satellite orbiting Earth, with the planet's curved horizon visible in the background against a dark space backdrop.

Under the new agreement, Space42 will continue providing secure satellite capacity and managed services via its Al Yah 1 and Al Yah 2 satellites already in orbit. These will be supplemented by two new cutting-edge satellites. Al Yah 4 and Al Yah 5 are expected to launch in 2027 and 2028, respectively.

A meeting of the Supreme Space Council in the UAE, with attendees seated at a large white table. The room features the UAE flag and official emblem, with men in traditional Middle Eastern attire engaging in discussions.

The deal consolidates Space42’s operations by replacing two existing agreements—the Capacity Services Agreement and Managed Services Mandate. Both are set to expire in late 2026. Additionally, the new contract integrates operations, maintenance, and advanced technology management for ground segment systems and terminals. These are currently covered under separate agreements.

A high-tech control room with multiple people at computer stations, each viewing numerous monitors displaying complex data and diagrams. A large screen at the front shows a network diagram and various statistics. The room is dimly lit, with a focus on the illuminated screens and displays.

Dh3.7 Billion Advanced Payments for New Satellites

A group of six men standing in front of a blue backdrop with

Ali Al Hashemi, CEO of Yahsat Space Services, Space42, emphasised the contract’s significance, stating:

“The Al Yah 4 and Al Yah 5 satellites will offer new capabilities to advance our technology and service offerings, enabling us to continue providing our innovative SpaceTech solutions that meet the UAE Government’s evolving requirements more efficiently, securely, and reliably.”

Cutting-Edge Technology and Launch Partners

Space42 has partnered with Airbus to construct the satellites, leveraging the Airbus Eurostar Neo platform. This platform is known for deploying flexible multiband payloads in orbit. To ensure a reliable launch, SpaceX has been selected to deliver the satellites into orbit using its trusted Falcon 9 rocket.

Row of satellite dishes at dusk with a purple and orange gradient sky.

The total cost for the development of Al Yah 4 and Al Yah 5, including the spacecraft, ground infrastructure, launch, and insurance, is estimated at Dh3.9 billion.

A group of people, most of whom are wearing traditional Middle Eastern attire, posing for a photo indoors in front of a "Space42" and "ADX" branded background. The setting appears to be a modern, well-lit conference or event space.

Strategic Communication Capabilities

Once operational, the new satellites will play a pivotal role in enhancing secure governmental communications and boosting the UAE’s regional and global connectivity. This project aligns with the country’s continued investment in space innovation. It cements its position as a leader in the evolving SpaceTech sector.

With this monumental contract, Space42 is poised to set new standards for secure communication technology. This will further advance the UAE’s ambitious space programme.