The strategic partnership is aimed at building and operatingstrategic earth observation capabilities within the UAE
Abu Dhabi, UAE, February 23, 2023 Bayanat, a leading provider of AI-powered geospatial solutions, has signed an MOU with Al Yah Satellite Communications Company PJSC (Yahsat), the UAE's flagship satellite solutions provider listed on the Abu Dhabi Securities Exchange (ADX; under the symbol: YAHSAT, ISIN: AEA007501017), to develop an in-country space program. The MOU brings together Bayanat's expertise in remote sensing capabilities and data analytics, and Yahsat's proven capabilities spanning satellite space technology.
The strategic partnership was announced today at IDEX 2023 and is aimed at establishing and operating strategic earth observation partnership within the UAE which includes Synthetic Aperture Radar (SAR) and optical imagery satellite capabilities. The global market potential is estimated to stand at US$ 4 billion for optical and SAR data combined. This partnership intends to consolidate the companies' synergies leading to in-country manufacturing and managed services.
Bayanat's long history in the geospatial industry has given it the opportunity to access, understand, and optimize a wide array of data generation, acquisition, visualization, and analysis systems. The company provides numerous applications for earth observation through its proprietary capabilities as well as through an extensive portfolio of industry-leading remote-sensing partners.
Yahsat has long-standing expertise in remote sensing technology and earth observation driven through space systems engineering, spacecraft conceptual design and development, ground segment engineering integration and satellite fleet mission control infrastructure alongside user-segment design. As a trusted partner for the UAE Government, Yahsat is committed to expanding services within the segment, driven by an increasing demand for advanced, sophisticated, and secure technology that can support growing needs for key government clients.
Speaking on the occasion, Hasan Al Hosani, CEO of Bayanat, said: Yahsat has been a long-standing partner for Bayanat. Our remote sensing capabilities perfectly complement Yahsat's space capabilities and will serve to create synergies in earth observation capabilities.
Ali Al Hashemi, Group CEO of Yahsat, added: We look forward to our partnership with Bayanat to further expand the scope and services available within the remote sensing and earth observation segment in the UAE. This agreement will further establish the nation as a global hub for space science and technology and is aligned with our strategy to prioritize segments with strong anticipated growth and development. We are confident that by leveraging our respective areas of expertise, we will be able to build a cutting-edge solution to further augment national capabilities.
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The strategic partnership is aimed at building and operatingstrategic earth observation capabilities within the UAE
