The modern space race is no longer confined to traditional superpowers but has expanded to include emerging nations with ambitious goals and innovative strategies. The UAE has emerged as a significant player, leveraging its vision for scientific advancement and economic diversification. From the historic launch of the Hope Probe to Mars to the Mohammed bin Rashid Space Centre’s establishment, the UAE’s space exploration investments underscore its commitment to fostering knowledge, innovation, and global collaboration.

Space42, a UAE-based AI-powered space technology firm, recently secured a $5.1 billion contract with the UAE government to ensure secure and stable satellite capacity and managed services for the Al Yah 1 and Al Yah 2 satellites currently in orbit.

This new agreement consolidates and replaces two existing contracts, the Capacity Services Agreement and the Managed Services Mandate, which are set to expire in November and December 2026, respectively. Additionally, two cutting-edge satellites, Al Yah 4 and Al Yah 5, are slated to join the fleet in 2027 and 2028.

The Al Yah 1 and Al Yah 2 satellites operate on the Airbus Eurostar Neo platform, designed to deploy flexible multi-band payloads. Under the new agreement, Space42 will receive an advance of $1.07 billion to kickstart the construction of the Al Yah 4 and Al Yah 5 satellites. These satellites will be equipped to enhance secure government communications across the MENA region, Europe, and Asia.

This contract underscores the strong financial position of Space42, accounting for most of its $7.07 billion backlog in contracted revenues. Ali Al Hashemi, CEO of Yahsat Space Services, Space42, said: “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 UAE Government’s evolving requirements more efficiently, securely and reliably.”

Space42’s $7.07 billion revenue backlog ensures long-term cash flow visibility through 2043, supporting sustained innovation in space technology within the UAE and the broader region.