Space42, the recently formed UAE-based SpaceTech company following the merger of Yahsat and Bayanat, said it has signed an AED 18.7 billion ($5.1 billion) contract with the UAE Government to provide critical and secure communication services for a further 17 years beyond 2026 until 2043.
The contract makes up a significant majority of Space42’s AED 26 billion ($7.1 billion) backlog of contracted revenues.
Space42 will provide secure and reliable satellite capacity and related managed services with the existing Al Yah 1 and Al Yah 2 satellites in orbit.
It will also launch two new advanced satellites, Al Yah 4 and Al Yah 5, in 2027 and 2028, respectively. Space42 will receive AED 3.7 billion ($1 billion) in advanced payments to construct the satellites which will provide secure governmental communications across the Middle East, Africa, Europe, and Asia.
The new contract replaces two current agreements, the Capacity Services Agreement and the Managed Services Mandate, which end in November and December 2026, respectively. It combines related operations, maintenance, and technology management services of ground segment satellite systems and terminals currently provided under a separate agreement.
Ali Al Hashemi, CEO of Yahsat Space Services, Space42, commented: “We are delighted to sign this contract with the UAE Government, which underscores the ongoing trust in Space42’s solutions.
“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 government’s evolving requirements more efficiently, securely and reliably.”
Since receiving the mandate last year, Space42 recently contracted Airbus to construct the satellites and has selected SpaceX to launch them into orbit using the reliable Falcon 9 rocket launch vehicle. The satellites are based on the Airbus Eurostar Neo platform, which can deploy flexible multiband payloads in orbit.
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