Partnership demonstrates collaboration between two leading national champions that will support the national space sector for both government and commercial customers
MoU will enable Yahsat to commercialize earth observation imagery from the Mohammed Bin Rashid Space Centre and potential for R&D collaboration
The agreement will further expand Yahsat's solutions-based offerings to include remote sensing data and imagery to key clients in-line with targeted areas of growth
Abu Dhabi, UAE, 15 February 2023 Al Yah Satellite Communications Company PJSC ( Yahsat or the Group ), the UAE's flagship satellite solutions provider listed on the Abu Dhabi Securities Exchange ( ADX ; under the symbol: YAHSAT, ISIN: AEA007501017), today announces a Memorandum of Understanding (MoU) with the Mohammed Bin Rashid Space Centre ( MBRSC ), the advanced scientific and technological hub responsible for making the UAE a world leader in space services and exploration, to collaborate on the commercialization of remote sensing data and earth observation images for Yahsat's commercial and government customers, as well as the potential to collaborate in R&D and in-country manufacturing.
Under the partnership, MBRSC's fleet of satellites will provide Yahsat with earth observation imagery and remote sensing data, which will then be available to key clients as a part of Yahsat's expanded solutions portfolio through its dedicated government arm, Yahsat Government Solutions (YGS).
The partnership between MBRSC and Yahsat signifies the first point of collaboration between the two national champions and is an important step forward in the creation of a sovereign local economy within the space sector as part of an effort to establish the UAE as a global hub for space science and technology.
Remote sensing technology and earth observation are utilized across many sectors, helping to detect and monitor natural phenomenon and human activities from a distance through the use of various types of sensors including optical, radar and radio frequency. Remote sensing technologies are considered integral to national capabilities, playing a vital role in many areas including environmental mapping, urban development, and public safety.
Demand for remote sensing data is expected to reach more than US$ 100 million in the UAE and more than US$ 400 million in the MENA region by 2027. The global market potential is estimated to be more than US$ 4 billion for optical and synthetic-aperture radar (SAR) data combined. The partnership represents an opportunity for Yahsat to expand its offering within this rapidly evolving sector, in-line with a strategy of prioritizing product and service expansions across core growth industries.
H.E. Salem Humaid AlMarri, Director General of MBRSC, said The application of space technology to tackle challenges and drive growth across various sectors in the UAE is advancing as access to the necessary capabilities and expertise becomes available. Partnering with Yahsat will supplement our ongoing efforts to cultivate an open environment for the growth of the space sector in the UAE and the region. At MBRSC, we have always strived to reinforce the UAEs leading status in the regional and global space industry. Our strategy aligns with this goal, and we are committed to seeking out new opportunities in the evolving space economy to further accelerate this process. .
Ali Al Hashemi, Group Chief Executive Officer at Yahsat, added: As a home-grown company with global reach, we are proud to be collaborating with the Mohammed Bin Rashid Space Centre, a true industry pioneer, to help bring their cutting-edge remote sensing and earth observation capabilities to our commercial and government customers. The agreement is a testament to our shared goal of establishing the UAE as a global hub for space science and technology while helping to create a sovereign economy around the space sector. The expansion of services linked to earth observation and remote sensing is an area of focus for Yahsat, in-line with our strategy of prioritizing sectors with anticipated outsized growth.
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Partnership demonstrates collaboration between two leading national champions that will support the national space sector for both government and commercial customers
