# Space42 May Expand Its $1.7 Billion Plan for Satellite Growth

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/37003
Published: 2026-10-21T20:18:57.000Z
Updated: 2026-10-21T20:18:57.000Z
Section: Business

> A planned venture with U.S. company Viasat is allocated 33% of the 2026-2030 projection and aims to help mobile operators connect users beyond cellular coverage.

Space42 may increase its projected $1.7 billion in capital spending and investment through 2030 as the Abu Dhabi-listed satellite company looks to expand beyond the United Arab Emirates.

“If anything, we may make the plan more ambitious,” said Space42 Managing Director Karim Michel Sabbagh. The company has not announced a higher total.

The $1.7 billion is a projection for 2026 through 2030, not a sum already spent. The November 2025 plan allocates 35% to the Al Yah 4 and Al Yah 5 satellite program, which supports a UAE government contract, and 33% to Equatys, a planned venture with U.S. communications company Viasat.

Equatys is designed as shared satellite and ground infrastructure to help mobile operators connect phones and other devices where cellular coverage is limited or unavailable. Participating operators would retain their spectrum rights and customer relationships.

Space42 and Viasat signed a binding agreement to establish Equatys on Sept. 14. Its formation remains subject to regulatory approvals and other closing conditions. Each company expects to contribute $400 million in equity when the venture forms, while Space42 expects to add $200 million in a later funding round. The founders’ potential contributions total up to $1 billion.

Space42’s revenue mix was concentrated in the UAE and government customers: the UAE accounted for 91% of revenue, and government customers generated 81%. Its November 2025 goals call for the international share to reach 30% and the commercial share to reach 47% by 2030, shifting both geographic and customer mix over time.

Space42’s first-half revenue rose 15% year over year to $260 million; net profit was $18 million. It is also pursuing AI-based analysis of Earth observation data as part of its commercial expansion.

Equatys’ architecture could scale to 2,800 satellites; that is a design capacity, not a launch order. Viasat targets starting services in 2029, while the venture still awaits regulatory approvals and other closing steps.