Space42 has successfully deployed its second Foresight Earth observation satellite, Foresight-2, in partnership with ICEYE. Launched via SpaceX’s Transporter-12 mission, the satellite enhances Space42’s SAR constellation, providing high-resolution, 24/7 Earth imaging. This step strengthens the UAE’s Earth Observation capabilities and supports its geospatial insights and satellite program.
Space42, formed from Al Yah (YahSat) and Bayanat AI, launched its Thuraya 4 satellite to replace older units. The satellite supports a $799 million revenue backlog, with plans for Direct-to-Device services. The UAE government has committed $800 million over 15 years to support Space42’s ambitions in global non-terrestrial communications.
Space42, the UAE-based space tech company, reported a 17.5% increase in profit for the first nine months of 2024, totaling $118.8 million. The company’s performance was boosted by the merger with Bayanat and Yahsat. Despite a revenue decline, Space42 remains focused on profitable growth and innovation in tech solutions.
