Abu Dhabi, 08 June, 2023 : Yahsat Asia Week' showcased innovative solutions of its mobility arm, Thuraya, and explored opportunities for forging new partnerships in the Asia Pacific region Abu Dhabi, UAE, 8 June 2023: Al Yah Satellite Communications Company (Yahsat), the UAE's flagship satellite solutions provider, (ADX trading Symbol: YAHSAT), is organizing Yahsat Asia Week', a series of industry focused activities in Singapore from 5 to 9 June 2023, as part of its ongoing efforts to strengthen its presence in global markets, especially in the Asia-Pacific region.
Yahsat Asia Week' consists of Yahsat's first-ever Asia Partner Conference bringing together service partners from 8 countries in the region under the theme Partner Pioneers' as well as participation in CommunicAsia 2023 and Asia Satellite Business Week. During the Asia Week, Thuraya Telecommunications Company, the Group's mobility arm, is showcasing its latest and best-selling solutions and services, as it is targeting growth across Asia-Pacific markets with new commercial opportunities.
The Asia-Pacific satellite communications market is expected to grow at an 8.5% CAGR between 2022 and 2032. As such Thuraya recognizes a surging demand for satellite services in the region. At the Asia Partner Conference on 5 June, regional service and technology partners learned about Yahsat's regional growth strategy as well as being given exclusive previews of Thuraya's next-generation broadband solutions.
The conference was attended by more than 25 entities from the region, representing key markets including Vietnam, Philippines, Malaysia, Singapore, South Korea, China, Indonesia, and Australia. It focused on areas of higher growth and profitability across various industry verticals, such as Enterprise, Consumers, Maritime, and Government. Developed in collaboration with the industry leader, Cobham SATCOM, Thuraya's next-generation broadband solutions are poised to address strategically important and diversified market segments within Internet of Things (IoT) and Maritime.
Ali Al Hashemi, Group Chief Executive Officer of Yahsat, said: Yahsat and Thuraya have a longstanding presence in Asia through our extensive satellite network, wide-ranging solutions, and enduring partnerships. These strong fundamentals have allowed us to build a solid footing in the satellite communications sector both regionally and globally. Encapsulating three influential events, Yahsat Asia Week' reinforces our commitment to this rapidly growing region. With our unique blend of advanced and affordable products, we have a time-tested reputation for feature-packed devices, which make a real difference to the way people live and work in Asia.
The conference concluded with an exciting race-style sailing event, which demonstrated the strengths of Thuraya's maritime portfolio, while serving to forge stronger relationships among partners.
At CommunicAsia 2023, Thuraya is showcasing its award-winning solutions including Thuraya MarineStar and Thuraya Push-To-Talk (PTT) that are immensely popular due to their versatility, flexibility, and affordability. MarineStar has become the leading maritime solution in its class across Asia and other regional markets, solidifying Thurayas position as a technology and solution-driven brand. Through previews of its next-generation broadband product line, Thuraya is also keen to provide CommunicAsia visitors with first-hand experience of the advanced satcom capabilities that Yahsat is envisioning for its mobility business. Thuraya is also participating in a panel at Asia Satellite Business Week, entitled Mobile Satellite Connectivity Services: Next Steps for IoT & Direct to Device.'
In 2022, Thuraya, the mobility arm of Yahsat, contributed 19% of the Group's total revenue, registering revenue increases in Voice (+4%), Maritime (+6%), and Data Services (+16%). Even more exciting opportunities lie ahead as Yahsats sixth satellite, Thuraya 4-NGS, set for launch in H1 2024, becomes operational in 2025. Thurayas new product line is strategically designed to leverage Thuraya 4-NGSs advanced capabilities.
Prior to the partner conference and CommunicAsia, Thurayas senior executives were in Jakarta to attend the APSAT (Asia Pacific Satellite) International Conference, further underscoring Yahsat's commitment to the Asia-Pacific region. Yahsat has been steadily strengthening its ties across the region by developing affordable solution-driven advanced satellite technology that provides underserved communities across Asia with critical communication capabilities. The technology not only empowers further economic and business development in these areas, but is also instrumental in saving lives as in the case of the seven Filipino fishermen, who were rescued at sea in 2022 after making an emergency call for help on their Thuraya XT-LITE satellite phone.
For further information, visit Thuraya booth 5E1-7 at CommunicAsia.
