Beyond the UAE: Space42’s $1.7 billion bid to conquer new markets

In a bid to expand its operations beyond the UAE, Space42, a leading Abu Dhabi-based space technology and AI company, has pledged $1.7 billion to new projects over the next five years. The company, which currently generates 90% of its revenue in the UAE, aims to shift this ratio to 70/30, with commercial customers contributing the majority by 2030. This ambitious expansion plan, if realized, would see Space42's revenue grow to $600 million by 2030, from $260 million in the first half of 2026.

Space42 is also exploring potential acquisitions to enhance its capabilities, particularly in geospatial intelligence. The company is open to partnerships that could add specialized analytical models and customer bases in sectors such as agriculture and critical infrastructure.

One notable development in Space42's recent endeavors is the collaboration with U.S. communications company Viasat to establish Equatys, a shared platform aimed at connecting smartphones and other devices directly to satellites. Viasat is investing $400 million in equity, while Space42 is contributing $600 million. The platform, expected to launch by 2029, will initially consist of less than 200 satellites, with plans to expand to 2,800.

This shared infrastructure model could democratize space-based voice and data services, potentially reaching billions of users by leveraging the capacity of existing satellite networks.