Space42 is a UAE-based, AI-powered SpaceTech company established in 2024, integrating satellite communications, geospatial analytics, and artificial intelligence. It has two business units: Yahsat Space Services and Bayanat Smart Solutions. Space42 focuses on satellite operations, geospatial data processing, and AI-driven solutions, with major shareholders including G42, Mubadala, and IHC.
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Space42 was awarded in the Smart City - Transportation and AI-Satellite categories at the 2025 Middle East Technology Excellence Awards.
Space42 was recognized for its TXAI autonomous mobility platform and Thuraya-4 communications satellite.
His Excellency Lieutenant General Ibrahim Nasser Al Alawi visited Space42 headquarters to highlight its role in the UAE National Space Strategy 2030.
Karim Sabbagh, Managing Director of Space42, discussed the Map Africa project with Microsoft and Esri for creating high-precision base maps for Africa.
Abu Dhabi-based Space42 signed a Memorandum of Understanding with Angola’s Military Intelligence and Security Service to extend its satellite services to Angola.
The MoU between Space42 and Angola was formalized during UAE President Sheikh Mohamed bin Zayed Al Nahyan's state visit to Angola.
The partnership between Space42 and Angola aims to enhance Angola's sovereign space capabilities.
Space42's strategy is based on leveraging its geospatial mapping capabilities to support agriculture, urban planning, and natural resource management.
UAE’s Space42 is advancing plans to expand across Africa to scale its Earth-observation and connectivity services.
Space42 aims to position itself as a challenger to incumbents like Starlink in the provision of data and communications in Africa.
Space42's expansion into Africa marks its most significant step beyond MENA to date.
Representatives from the Middle East at WSBW 2025 include Ali Hashem Al Hashemi, CEO of Space Services at Space42, and Salem Humaid Al Marri, Director General of Mohammed Bin Rashid Space Centre.
Space42 secured a USD 700 million Export Credit Agency-backed financing facility.
Space42 closed H1 2025 with USD 816 million in cash and short-term deposits.
Space42 announced a normalized net profit of USD 53 million for the first half of 2025.
Space42's primary focus is to manufacture and deploy the Foresight system, which includes seven latest-generation Earth observation SAR-based satellites.
Space42 maintained margins and demonstrated strong operational optimization during H1 2025.
Space42 has secured new funding for the development of Al Yah 4 and Al Yah 5 satellites.
Space42 signed a $696 million Export Credit Agency-backed financing facility.
In May 2024, the Abu Dhabi Investment Office and Space42 launched the region's first satellite manufacturing facility to build local remote sensing capabilities.