ADX-listed Space42 has committed approximately USD 1.7 billion to new projects as part of its international expansion strategy, with the company targeting annual revenue of USD 600 million by 2030.
According to an interview published by Fortune on October 21, 2026, Space42 Managing Director Karim Sabbagh outlined plans to expand the company’s international presence, diversify its customer base and strengthen its position in satellite communications, Earth observation and artificial intelligence.
Currently, approximately 90% of Space42’s revenue comes from the UAE, while international markets contribute the remaining 10%.
Government customers account for approximately 80% of revenue, with commercial customers representing the remaining 20%.
Over the next five years, Space42 aims to shift both revenue distributions towards a 70%–30% split, increasing the contribution from international markets and commercial customers.
The company generated USD 260 million in revenue during the first half of 2026, representing a 15% increase compared with the corresponding period of 2025, while reporting net profit of approximately USD 18 million.
Space42’s planned USD 1.7 billion capital commitment forms part of its broader strategy to expand operations and develop new revenue opportunities across international markets.
Sabbagh indicated that the company could increase its planned investment commitments, with any potential changes expected to be announced at Space42’s annual investor day in November 2026.
Beyond organic expansion, Space42 is also considering potential acquisitions that could strengthen its technological capabilities, particularly in geospatial intelligence.
Potential acquisition opportunities could include businesses specialising in advanced analytical models and applications serving industries such as agriculture and critical infrastructure.
A central component of Space42’s international strategy is Equatys, a satellite connectivity platform being established through a partnership with US-based communications company Viasat.
Under the agreement announced in September 2026, Space42 has committed USD 600 million in equity to the venture, while Viasat will contribute USD 400 million, bringing the combined equity commitments to USD 1 billion.
Equatys is designed to provide direct-to-device satellite connectivity, enabling smartphones and other compatible devices to connect to satellite networks without relying on traditional specialised satellite equipment.
The platform is expected to launch by 2029, initially operating with fewer than 200 satellites before potentially expanding to a constellation of 2,800 satellites.
According to Sabbagh, the venture could benefit from approximately 400 existing relationships with mobile network operators worldwide.
The platform aims to establish shared satellite infrastructure that can support national and regional connectivity networks, potentially reducing the need for individual operators to develop separate satellite systems.
Space42 believes the technology could significantly expand access to satellite-based communications, although the company expects commercial adoption and subscriber development to take between one and three years.
Alongside satellite connectivity, Space42 is expanding its capabilities in artificial intelligence-powered geospatial intelligence and Earth observation.
The company is particularly focused on synthetic aperture radar technology, which enables satellite imaging during darkness and through cloud cover, supporting applications in infrastructure monitoring, environmental analysis and situational awareness.
Artificial intelligence is expected to play an increasingly important role in processing satellite imagery, identifying changes and converting large volumes of observational data into actionable information.
Space42 is backed by Abu Dhabi-based Mubadala Investment Company and International Holding Company, supporting its ambitions to develop an internationally diversified space technology business.
The company’s expansion strategy reflects its objective to reduce dependence on UAE government contracts while developing new commercial revenue streams through satellite connectivity, geospatial intelligence and strategic partnerships.
However, the USD 600 million revenue objective, international revenue diversification targets and planned satellite deployment remain forward-looking goals, subject to investment execution, commercial adoption and market conditions.
Source: Fortune
Disclaimer: This article is for informational purposes only and should not be construed as investment, financial, or legal advice.
