Bayanat, Yahsat, ICEYE launch space ecosystem programme
Plans to develop constellation of five satellites, with the first launch likely in 2024
Bayanat, a leading provider of AI-powered geospatial solutions, and Al Yah Satellite Communications Company PJSC (Yahsat), a satellite solutions provider, announced a comprehensive space programme on Wednesday.
The project is aimed at building national satellite remote sensing and earth observation (EO) capabilities within the UAE to commercially address business opportunities in the local and global EO market.
The programme forms part of the two companies’ partnership with ICEYE, an SAR satellite manufacturer based in Finland.
SAR (synthetic-aperture radar) is an active sensing system that illuminates the Earth’s surface and measures the reflected signal to generate high-resolution images. Unlike traditional optical imaging satellites, SAR can capture images day and night, regardless of weather conditions or solar illumination.
Bayanat’s programme aims to develop a constellation of at least five SAR low Earth orbit (LEO) satellites to provide a consistent data stream for end-to-end solutions for SAR applications. It will cover the entire value chain by leveraging the available synergies in Yahsat’s upstream and midstream capabilities, including its leading satellite infrastructure as well as the wide spectrum of its rapidly growing satellite-enabled innovative solutions, and Bayanat’s downstream capabilities such as advanced AI and data analytics and will significantly enhance Bayanat’s commercial offerings by providing valuable geospatial insights to various industries in a timely and accurate manner.
Hasan AlHosani, CEO of Bayanat, said: “The launch of the first LEO satellite scheduled for Q1 2024 will significantly enhance Bayanat’s existing offerings to provide more comprehensive and high-quality services to clients both locally and internationally. The partnership between Bayanat and ICEYE, in collaboration with Yahsat, will drive the development of a sovereign EO ecosystem which will enable us to provide cutting-edge solutions, whilst contributing to skill development, scientific advancements, and sustained economic growth."
Ali Al Hashemi, Group CEO of Yahsat, said: “Yahsat is committed to join forces with various commercial and government-related entities to strengthen the UAE’s leadership in the space sector in MENA region, supported by Yahsat’s world-class infrastructure and suite of innovative solutions. We are also advancing new segments such as earth observation, in-country manufacturing and building the national capacities in the space sector.”
Yahsat Q1 revenue up
Abu Dhabi: Al Yah Satellite Communications Company (Yahsat), the UAE’s flagship satellite solutions provider listed on the Abu Dhabi Securities Exchange, reported revenue of Dh369 million in the first quarter of 2023, a 2 per cent growth compared to the year-ago period.
Normalised net income for the period stood at Dh108 million, up 46 per cent year-on-year.
The revenue growth was driven by strong performance of the Managed Solutions segment, which saw revenue increase by 29 per cent to Dh72 million. Infrastructure, the group’s largest business segment, reported revenue of Dh220 million, up 1 per cent.
Normalised EBITDA was reported at Dh231 million, up 8 per cent year-on-year.