Space42
| Public | |
| Traded as | ADX: SPACE42 |
| ISIN | 🆔 |
| Industry | Satellite communications, Space technology, Geospatial analytics, Artificial intelligence |
| Predecessor | Al Yah Satellite Communications, Bayanat |
| Founded 📆 | October 2024 |
| Founder 👔 | |
Area served 🗺️ | Worldwide |
Key people | Karim Sabbagh (Managing Director) Ali Al Hashemi (CEO, Space Services) Hasan Al Hosani (CEO, Smart Solutions) |
| Members | |
Number of employees | |
| 🌐 Website | space42 |
| 📇 Address | |
| 📞 telephone | |
Space42 is a publicly listed space technology company based in Abu Dhabi, United Arab Emirates. The company was formed in 2024 through the merger of Al Yah Satellite Communications Company (Yahsat) and Bayanat, and operates in satellite communications, geospatial intelligence, and artificial intelligence.[1][2][3] It is traded on the Abu Dhabi Securities Exchange under the ticker symbol SPACE42.
History
The merger was announced and approved in April 2024 as part of a national effort to consolidate advanced space and AI capabilities in the UAE.[1][2] The transaction brought together Yahsat’s satellite infrastructure and Bayanat’s AI-powered geospatial solutions.
Space42 began public trading on 1 October 2024.[4]
Operations
The company’s portfolio spans satellite communications, earth observation, mobility solutions, and AI-driven data analytics. It serves both public and private sector clients across domains including defense, infrastructure, disaster response, and urban planning.
Subsidiaries under the Space42 umbrella include:
- Thuraya, a provider of mobile satellite communications.
- Mira Aerospace, focused on high-altitude platform systems (HAPS).
- YahClick, which delivers satellite broadband services.
In February 2024, the company’s Thuraya 4 satellite was launched aboard a SpaceX Falcon 9 rocket, expanding L-band capacity and enabling mobile and IoT connectivity.[5]
Strategic Projects
In partnership with the Abu Dhabi Investment Office (ADIO), Space42 announced in 2025 the development of the Middle East’s first commercial synthetic aperture radar (SAR) satellite manufacturing facility in Abu Dhabi.[6]
The company has established joint ventures and collaboration agreements with global satellite and aerospace firms, including:
- ICEYE, to co-develop SAR satellites within the UAE.[7]
- Viasat and Cobham Satcom, to enhance broadband satellite and 5G direct-to-device networks.[8]
Industry Recognition
Space42 has been profiled by global media as a key actor in the UAE’s AI and space innovation ecosystem. Reuters Breakingviews highlighted the company as part of the Gulf’s broader effort to build sovereign technological capacity through AI infrastructure and strategic mergers.[3]
Educational Initiatives
Space42 engages in workforce development through training programs in partnership with local academic and government institutions, including the UAE Space Agency, Ministry of Education, and Khalifa University.
Awards
In 2025, Space42 was awarded “Best Connectivity Solution” at the BroadcastPro Middle East Manufacturer Awards.[9]
Alignment with UAE Strategies
The company aligns its strategic initiatives with the UAE National Space Strategy 2030[10] and the UAE’s National Strategy for Artificial Intelligence 2031.[11]
See also
References
- ↑ 1.0 1.1 "Bayanat and Yahsat shareholders approve merger to create Space42". The National. 26 April 2024. Retrieved 17 August 2025.
- ↑ 2.0 2.1 "Yahsat and Bayanat forge AI-powered space technology champion". SpaceNews. 26 April 2024. Retrieved 17 August 2025.
- ↑ 3.0 3.1 "Gulf's AI strategy is built on more than sand". Reuters Breakingviews. 13 November 2024. Retrieved 17 August 2025.
- ↑ "ADX Trading Notice on Space42 Listing". Abu Dhabi Securities Exchange. Retrieved 17 August 2025.
- ↑ "SpaceX launches UAE's Thuraya 4 mobile connectivity satellite". SpaceNews. 4 February 2024. Retrieved 17 August 2025.
- ↑ "Space42 launches Middle East's first commercial SAR satellite manufacturing facility". Abu Dhabi Government Media Office. Retrieved 17 August 2025.
- ↑ "Space42 and ICEYE announce joint venture". ICEYE. Retrieved 17 August 2025.
- ↑ "Space42 and Viasat partner on 5G non-terrestrial networks". Satellite Today. Retrieved 17 August 2025.
- ↑ "Winners of SatellitePro ME Awards 2025". SatelliteProme. Retrieved 17 August 2025.
- ↑ "National Space Strategy 2030". UAE Government Portal. Retrieved 17 August 2025.
- ↑ "UAE AI Strategy 2031" (PDF). AI.gov.ae. Retrieved 17 August 2025.
External links
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