Abu Dhabi-based Space42 is planning a major global expansion as it seeks to grow its satellite and space technology business.
The company aims to double its revenue to about $600 million by 2030. It plans to reach this goal by entering new markets, building partnerships and expanding its satellite services.
Space42 was formed in 2024 through the merger of Yahsat and Bayanat. The company is listed on the Abu Dhabi Securities Exchange and now operates across satellite services, geospatial data and artificial intelligence.
Its business has a strong base in the UAE. Government contracts have also played a key role in its revenue. But Space42 wants to build a wider customer base at home and abroad.
The move comes as demand grows for secure communications, satellite data and Earth observation services. These services can help governments and businesses manage risks and stay connected during major events.
Space42 Managing Director Karim Michel Sabbagh has said the company wants to become a global leader in space technology.
The firm is working to grow beyond its current core markets. It sees new opportunities in areas where businesses need satellite links, data and real-time information.
The company is also building partnerships with firms in other countries. These deals can help Space42 enter markets faster while reducing the need to build every part of its network alone.
One major project is Equatys, a planned joint venture with US satellite company Viasat. The project aims to provide direct-to-device satellite services.
Equatys is designed to let standard smartphones and Internet of Things devices connect through satellite networks. Space42 and Viasat are targeting commercial services within about three years.
The project could help Space42 reach customers in many markets. It also supports the company’s plan to build a larger global role in non-terrestrial networks.
Space42 has reported solid financial results in 2026.
In the first quarter, the company recorded revenue of $116 million. Space Services revenue rose 15 percent from a year earlier.
The company also reported $52 million in EBITDA and $5 million in net profit for the quarter. It had $1.024 billion in cash and short-term deposits at the end of March.
Space42 also had $6.4 billion in contracted future revenue. Much of this comes from long-term government and satellite service agreements.
The figures give the company a strong base as it invests in new projects. They also give Space42 more room to grow its international business.
Space42 plans to invest heavily in new programs and partnerships. It is also looking at acquisitions that could give it access to new markets.
The company has already built links with businesses outside the UAE. Its partnership work includes projects tied to satellite connectivity and autonomous driving technology.
In 2025, Space42 and Viasat announced plans for Equatys. The platform is designed as shared satellite infrastructure for mobile operators and other users. It could support direct connections between satellites and standard devices.
Space42 has also explored partnerships in markets such as Indonesia. In December 2025, it signed a memorandum with PT Telkom Satelit Indonesia to study cooperation on direct-to-device services.
These efforts show how the company is seeking growth beyond its UAE base.
Space42’s $600 million revenue goal reflects its wider growth plan.
The company wants to reduce its reliance on a small group of large customers. It also wants more international business across satellite communications, Earth observation, geospatial data and AI.
Its strategy will depend on new partnerships, strong project delivery and continued demand for space-based services.
For Space42, the next few years will be important. The company now has a strong UAE base, large future contracts and plans for global expansion.
If its new projects gain traction, Space42 could build a much larger international business by 2030.
