Space42: A rising star at the intersection of space and AI
Space42 is an Abu Dhabi-based, ADX-listed space technology company that specialises in offering geospatial analytics and satellite communications powered by artificial intelligence (AI). With a global footprint and backing from major shareholders such as G42, Mubadala and International Holding Company (IHC), Space42 aims to deliver sustainable growth and long-term value for investors.
The company was formed in 2024 with the merger of Bayanat AI and Al Yah Satellite Communications Company PJSC (Yahsat). The transaction, announced in 2023 and approved by shareholders in April 2024, was executed through a share swap, with Bayanat remaining as the legal entity, and Yahsat delisted from the exchange. The shareholders of Bayanat and Yahsat own 54% and 46% of the merged entity, respectively.
Space42 comprises two business units: Yahsat Space Services and Bayanat Smart Solutions. The Yahsat Space Services unit focuses on upstream satellite operations for both fixed and mobility satellite solutions. The Bayanat Smart Solutions unit integrates geospatial data acquisition and processing with AI to inform decision-making, enhance situational awareness and improve operational efficiency. The company operates across more than 150 countries, reaching over 80% of the world's population.
Click here to download infographic
The new merged entity has already had several early wins that have bolstered its future growth prospects.
In December 2024, Space42 announced an AED18.7 billion (U.S.$5.1 billion) contract with the UAE government to provide secure governmental communications across the Middle East, Africa, Europe and Asia until 2043. The contract underpins Space42's strong financial profile, making up a significant majority of its AED26 billion (U.S.$7.1 billion) backlog of contracted revenues.
In January 2025, the company launched its Thuraya 4 telecommunications satellite into orbit.Considered a next-generation mobile telecommunications system, Thuraya 4 expands Space42's capabilities and advances the company's plans to launch more than 15 new products to cater to the rapid growth in use cases across various sectors, including defence, government and enterprise.
Strategic growth drivers
In March, Space42 signed a memorandum of understanding with Nasdaq-listed Viasat Inc., a global mobile satellite services (MSS) operator in L- and S-band spectrum, to explore ecosystem partnership options for developing a 5G Non-Terrestrial Network (NTN) initiative. The collaboration would enable both companies to address the growing opportunities in direct-to-device (D2D) satellite communications to smartphones, narrowband Internet of Things (NB-IoT), and existing and next-generation MSS services. The D2D market is set to reach U.S.$50 billion by 2032.
Investment
Space42 ended its first quarter with U.S.$895 million in cash and short-term deposits and contracted future revenues of nearly U.S.$7 billion. It also made progress on capturing the next wave of opportunity in spacetech, including government and defence solutions, smart mobility and autonomous systems, direct-to-device connectivity, and AI-powered geospatial and satellite communication services to emerging markets in Africa and Asia, offering solutions for agriculture monitoring and disaster management.
Growth through organic and bolt-on acquisitions
The company offers strong liquidity, low leverage, a cut-cost-and-grow-stronger approach, and predictable future cash flow underpinned by a financial framework focused on organic investments, bolt-on acquisitions and generating attractive returns.
Space42 believes it is positioned to leverage capabilities across three sectors – satellite communications, AI analytics and geospatial services – to unlock value for customers, partners and shareholders and position itself as global leader. Its overarching position as a dual-use player brings further unique opportunities and ability to scale.
The company also aims to tap the global high-altitude platform station (HAPS) market, offering the full suite of HAPS products and solutions. To boost its presence in the market, Mira Aersopace, a subsidiary of Space42, created the MENA region's first HAPS manufacturing centre in Abu Dhabi. The new facility will significantly enhance Mira Aerospace's production capabilities, drive advanced R&D, support the commercialisation of HAPS technology and lay the foundation for long-term, sustainable growth.
ESG leadership
Standard & Poor's (S&P) recognised Space42 as one of the Top 3 Sustainability Companies in the UAE. Yahsat, the predecessor of the Yahsat Space Services unit of Space42, achieved notable recognition as one of the top 10 most sustainable companies in the Middle East, securing the sixth and third positions in the region and UAE rankings respectively, as per the S&P Global ESG Scores.
The company plans to enhance its sustainability governance by establishing an ESG Committee as part of a Sustainability Strategy and Roadmap update in 2025, and implement the sustainability agenda across Space42.
Space and AI market outlook
Space42 is positioning itself as a strategic enabler of the UAE's long-term ambitions, aligning its operations with the National Space Strategy 2030 and the AI Strategy 2031. The company stands to benefit from a rapidly expanding global space economy, projected to nearly triple to U.S.$1.8 trillion by 2035 from U.S.$630 billion in 2023. At the same time, the global AI market is expected to surge to U.S.$1.8 trillion by 2030, up from U.S.$279 billion in 2024. With capabilities spanning both sectors, Space42 sits at the intersection of two transformative growth trends.
Looking ahead
Space42 has major ambitions to be a leader in several growth areas, including geospatial intelligence and AI platform services, non-terrestrial connectivity (NTN) and secure connectivity.
To find out more, visit the company's page on adx.ae.
To invest, contact one of the ADX brokers now.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
43 minutes ago
- Zawya
Octa's oil outlook: Middle East tensions threaten global supply
KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 21 June 2025 - Crude oil, which is arguably the world's most important commodity, is on everybody's mind right now. The flared up conflict in the Middle East is increasing risks of a major oil supply shock, potentially pushing the price of 'black gold' into the stratosphere and completely derailing the global economy. In this article, Octa, a global retail broker, shares its expert opinion on the unfolding situation and outlines possible scenarios for the global oil market. As it often happens, the market started to price in the possibility of a new conflict in the Middle East well in advance. On 11 June, oil prices rose more than 4% after reports surfaced that the U.S. was preparing to evacuate its Iraqi embassy due to heightened security concerns in the region. Two days later, Israel and Iran exchanged airstrikes, pushing both Brent and West Texas Intermediate (WTI), the world's two major oil benchmarks, to five-month highs as investors anticipated potential supply disruptions from an open conflict. To this day, the conflict continues without resolution and oil prices remain elevated even as there are some telltale signs that the parties may be willing to negotiate. 'This burgeoning unrest introduces an unprecedented degree of volatility, significantly amplifying the specter of a catastrophic oil supply shock', argues Kar Yong Ang, a financial market analyst at Octa broker, adding that the conflict between Israel and Iran 'carries ominous potential to propel crude prices to unprecedented levels, thereby unleashing a cascade of detrimental effects that could, in the most dire of scenarios, cause a major global economic crisis'. Indeed, the Middle East in general and Iran in particular play a pivotal role in global energy markets. A substantial portion of the world's crude oil and liquified natural gas (LNG) is produced and exported in this region. Iran itself, despite the existing sanctions on exports, remains an important supplier of oil—notably, for China. Furthermore, a vast number of ships carrying crude oil and LNG transit through the Strait of Hormuz, a narrow yet vital chokepoint that Iran has repeatedly threatened to close. Should Iran act on this threat and block the strait, the repercussions would be quite severe, likely pushing global crude oil prices well above $100 per barrel, or even higher, due to the significant disruption of supply. Technically, if we look at a broader, long-term picture, WTI crude oil seems to be moving sideways with a minor bearish tilt. On a daily chart (see below), the price still has not escaped from the bearish parallel channel. However, due to the latest geopolitical news, the price has managed to rise above the 200-day moving average (MA) and seems poised to break above the critically important 77.60-78.00 area. 'Breaching the $80 handle should not be difficult if the current situation deteriorates sharply', says Kar Yong Ang. 'Continuing destruction of oil infrastructure in Iran, potential U.S. involvement in the war, countries' unwillingness to negotiate and, above all else, Iran's attempts to block the Strait of Hormuz, all of this will have a bullish impact on prices'. Indeed, a break above 80 level, would open the way towards 83.40, 85.20, 87.30, and 90.00 area. Alternatively, in case the hostilities moderate somewhat, other countries—particularly the U.S.—refrain from directly participating in the conflict, and both Israel and Iran express willingness to negotiate, bearish sentiment will immediately kick in. 'I think WTI oil may lose as much as 5 dollars per barrel in the blink of an eye should we see some progress in nuclear negotiations between Europeans and Iranians, which are due to commence in Geneva this Friday', concludes Kar Yong Ang. In this scenario, a break below 71.50 level would allow bears to target 67.80, 64.80 and 61.70. Overall, WTI crude price is now stuck in a broad range between $70 and $80. The move above and below these two levels will essentially indicate if the situation in the region is getting worse or is getting better. The chart below shows potential bullish and bearish targets, marked in green and red, respectively. NYMEX light sweet crude oil (WTI) daily chart ___ Disclaimer: This press release does not contain or constitute investment advice or recommendations and does not consider your investment objectives, financial situation, or needs. Any actions taken based on this content are at your sole discretion and risk—Octa does not accept any liability for any resulting losses or consequences. Hashtag: #Octa The issuer is solely responsible for the content of this announcement. Octa Octa is an international CFD broker that has been providing online trading services worldwide since 2011. It offers commission-free access to financial markets and various services used by clients from 180 countries who have opened more than 52 million trading accounts. To help its clients reach their investment goals, Octa offers free educational webinars, articles, and analytical tools. The company is involved in a comprehensive network of charitable and humanitarian initiatives, including improving educational infrastructure and funding short-notice relief projects to support local communities. In Southeast Asia, Octa received the 'Best Trading Platform Malaysia 2024' and the 'Most Reliable Broker Asia 2023' awards from Brands and Business Magazine and International Global Forex Awards, respectively. Octa
UAE Moments
3 hours ago
- UAE Moments
Two Dubai Restaurants Make it to World's 50 Best Restaurants
Two Dubai-based restaurants made it to the 2025 World's 50 Best Restaurants, and they are Tresind Studio and Orfali Bros. The annual list was revealed in Turin, Italy. Tresind Studio ranked 27th in the list, while Orfali Bros ranked 37th. Both restaurants had made it to the list last year, with Tresind ranking 13th and Orfali ranking 64th. Both restaurants are the only restaurants from the Middle East to make it to the list this year. This ranking follows Tresind Studio earning its third Michelin star in May this year. Tresind is an Indian-fusion restaurant run by head chef Himanshu Saini, which is located on the Palm Jumeirah.
UAE Moments
3 hours ago
- UAE Moments
US Airlines Cut Gulf Routes Amid Regional Tensions
American Airlines and United Airlines have suspended their Gulf routes due to escalating tensions in the Middle East. The move marks the first time major U.S. carriers have paused services to key transit hubs like Doha and Dubai, raising concerns among travelers and industry insiders. American Airlines Suspends Philadelphia–Doha Route American Airlines has suspended its daily flight from Philadelphia to Doha, Qatar. The last flight departed from Doha early Thursday, and service is paused until at least June 22. The decision follows a security advisory from the U.S. Embassy in Qatar, which urged American citizens to remain vigilant, avoid demonstrations and large gatherings, and keep a low profile. In a statement, American Airlines said: 'We will continue to monitor the situation with safety and security top of mind and will adjust our operation further as needed.' United Airlines Halts Newark–Dubai Service United Airlines also announced it has paused its daily Newark–Dubai flights. The airline stated it would resume the service only 'when it's safe.' This follows earlier suspensions of Tel Aviv routes by both United and Delta, after Israel launched airstrikes against Iran earlier this month. Major Hubs Affected for the First Time This is the first time the aviation disruption caused by the Israel–Iran conflict has affected regional transit giants like Dubai and Doha. These hubs are vital for long-haul flights connecting the U.S., Europe, and Asia. Air France-KLM and Air Canada have also canceled multiple flights to Gulf destinations this week, including Dubai and Riyadh, signaling a wider trend of caution among global carriers. Airspace Disruptions Continue Airspace closures reached a peak on Friday. Israel halted all overflights, and Iran temporarily shut down operations at Tehran's main airport. Other countries in the region, like Iraq, Syria, Jordan, and Lebanon, have been alternating between opening and closing their airspace as tensions evolve. Meanwhile, the U.S. Embassy in Qatar reported temporary restrictions on access to Al Udeid Air Base, a key U.S. and allied military facility in the region. What This Means for Travelers If you're traveling to or through the Middle East in the coming weeks, be sure to double-check your flight status and monitor embassy advisories. Airlines are expected to resume services only when the regional situation stabilizes.
